6 PROBLEM 6. Presented below pertains to Amsterdam Corporation on December 31, 2020:Treasury warrantsTreasury bills, due on 1/31/2021 (purchased on 1/31/2020)Treasury bills, due on 3/31/2021 (purchased on 12/31/2020)Postage stampsCM from Tokyo Corporation, a vendor, for a purchase returnBPI Checking accountMetrobank Checking accountPostal Money Order300,000300,000200,0001,00020,000(100,000)2,000,00030,00050,0004,000Traveler's checkPostdated check of Donald Tramp, an employeeThis is your personal copy. Do not upload/share to any unauthorized sites/groups without yourteacher's permission. Thank you.Restricted foreign bank account (equivalent to pesosIOU from eldest brother of Jonathan Fabian, the company controllerListed stocks held as temporary investmentsPayroll accountPetty Cash fund (net of expense receipts pf P 6,000)1,000,00010,00015,000500,0004,000Additional information:1. Check of P 200,000 in payment of accounts payable was recorded December 31, 2020 but mailedto suppliers on January 5, 2021.2. Check of P 100,000 dated January 5, 2021 in payment of accounts payable was recorded and mailedon December 31, 2020.3. Check of P 50,000 dated January 15, 2020 in payment of accounts payable was recorded and mailedon January 15, 2020. As of the reporting period, the same has not been encashed by the payee andstill outstanding.16. How much cash and cash equivalents should Amsterdam Corporation report on the December 31,2020 statement of financial position?

Cash & Cash Equivalent - Cash equivalents are investment instruments with good credit quality…

Treasury warrants Treasury bills, due on 1/31/2021 (purchased on 1/31/2020) Treasury bills, due on 3/31/2021 (purchased on 12/31/2020) Postage stamps CM from Tokyo Corporation, a vendor, for a purchase return BPI Checking account Metrobank Checking account Postal Money Order Traveler's check Postdated check of Donald Tramp, an employee 300,000 300,000 200,000 1,000 20,000 (100,000) 2,000,000 30,000 50,000 4,000 This is your personal copy. Do not upload/share to any unauthorized sites/groups witho teacher's permission. Thank you.

Treasury warrants Treasury bills, due on 1/31/2021 (purchased on 1/31/2020) Treasury bills, due on 3/31/2021 (purchased on 12/31/2020) Postage stamps CM from Tokyo Corporation, a vendor, for a purchase return BPI Checking account Metrobank Checking account Postal Money Order Traveler's check Postdated check of Donald Tramp, an employee 300,000 300,000 200,000 1,000 20,000 (100,000) 2,000,000 30,000 50,000 4,000 This is your personal copy. Do not upload/share to any unauthorized sites/groups witho teacher's permission. Thank you.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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