The balance sheet at December 31,2019 of Delta Corporation showed a cash balance of P183,500. An examination of the books disclosed the following:


Cash sales of P24,000 from January 1 to 5, 2020 were pre dated as of December 28 to 31, 2019 and charged to the cash account. Customers' checks totaling P9,000 deposited with and returned by the bank "NSF" on December 27, 2019 were not recorded in the books. Checks of P11,200 in payment of liabilities were prepared before December 31,2019 and recorded in the books, but withheld by the treasurer. Post-dated checks totaling P6,800 are being held by the cashier as part of cash. The company's experiences shows that post-dated checks are eventually realized. The cash account includes P40,000 being reserved for the purchase of an IPAD which will be delivered soon. The cash balance that should be shown on December 31, 2019 balance sheet is?

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Lets calculate the adjusted cash balance Cash balance at December 31 2019 P183500 Deduc... View the full answer