The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the following: Bills and coins on hand P52,780 Traveler’s check 22,400 Credit memo from supplier’s for purchase returns 6,500 Postage stamps 120 Petty cash including paid cash vouchers of P1,650 2,000 Balance in Savings Account with a bank closed by the BSP 36,000 Customer’s check dated January 15,2022 8,000 Money Order 800 IOU of an employee 400 CA Balance in BPI 22,000 Total P151,000 The correct cash and cash equivalents balance on December 31,2022 is P98,900 P98,790 P97,530 P98,330
The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the following: Bills and coins on hand P52,780 Traveler’s check 22,400 Credit memo from supplier’s for purchase returns 6,500 Postage stamps 120 Petty cash including paid cash vouchers of P1,650 2,000 Balance in Savings Account with a bank closed by the BSP 36,000 Customer’s check dated January 15,2022 8,000 Money Order 800 IOU of an employee 400 CA Balance in BPI 22,000 Total P151,000 The correct cash and cash equivalents balance on December 31,2022 is P98,900 P98,790 P97,530 P98,330
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 2SEQ
Related questions
Question
The cash account of Ria on December 31,2021 has an balance of P151,000 and it consists of the following:
Bills and coins on hand P52,780
Traveler’s check 22,400
Credit memo from supplier’s for purchase returns 6,500
Postage stamps 120
Petty cash including paid cash vouchers of P1,650 2,000
Balance in Savings Account with a bank closed by the BSP 36,000
Customer’s check dated January 15,2022 8,000
Money Order 800
IOU of an employee 400
CA Balance in BPI 22,000
Total P151,000
The correct cash and cash equivalents balance on December 31,2022 is
Bills and coins on hand P52,780
Traveler’s check 22,400
Credit memo from supplier’s for purchase returns 6,500
Postage stamps 120
Petty cash including paid cash vouchers of P1,650 2,000
Balance in Savings Account with a bank closed by the BSP 36,000
Customer’s check dated January 15,2022 8,000
Money Order 800
IOU of an employee 400
CA Balance in BPI 22,000
Total P151,000
The correct cash and cash equivalents balance on December 31,2022 is
P98,900
P98,790
P97,530
P98,330
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub