The statement of financial position of Pineapple Company shows cash of P237,390. The following items were found
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Question:
What is the correct amount of cash and cash equivalents in Pineapple Company's statement of financial position?
2. The following information is available for the Dragon Fruit Company on March 31 of the current year: Bank statement balance, March 31 - P146,570; Note collected by bank, including interest of P2,500, not yet taken up on the books - P62,500; NSF check returned with the bank statement - P21,260; Outstanding checks as of March 31 - P68,470; Bank service charges for March - P1,285; Credit memo for interest credited by bank for the month of March - P105.
What is the correct cash balance at March 31?
Related Book For
Fundamental Accounting Principles
ISBN: 978-1259536359
23rd edition
Authors: John Wild, Ken Shaw, Barbara Chiappett
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