On December 31,20x1, Alberto Co. has the following cash balances: Cash in Banks Petty Cash Funds...
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On December 31,20x1, Alberto Co. has the following cash balances: Cash in Banks Petty Cash Funds (all funds were reimbursed On 12/31/x1) 1,800,000 50,000 Cash in banks include P600,000 of compensating balances against short-term borrowing arrangements at December 31, 20x1. The compensating balances are not legally restricted as to withdrawal by Alberto. What total amount should be reported as cash? On December 31,20x1, Alberto Co. has the following cash balances: Cash in Banks Petty Cash Funds (all funds were reimbursed On 12/31/x1) 1,800,000 50,000 Cash in banks include P600,000 of compensating balances against short-term borrowing arrangements at December 31, 20x1. The compensating balances are not legally restricted as to withdrawal by Alberto. What total amount should be reported as cash?
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The total amount reported as cash should include cash in banks and petty ca... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
Posted Date:
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