Grain Company's general ledger showed a balance of P2,205,600 in its Cash account on December 31,...
Fantastic news! We've Found the answer you've been seeking!
Question:
![](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2023/03/64086e5d75071_1678274140150.png)
Transcribed Image Text:
Grain Company's general ledger showed a balance of P2,205,600 in its "Cash" account on December 31, 2013. Included in this balance are the following items: DAIF checks returned by bank Saving account IOUS Postage stamps Bank draft Cash on Hand Cash in sinking fund Customers' checks dated January, 2014 Travel advances Traveler's Check P 20,000 750,000 1,200 600 10,000 30, 000 500,000 5,400 4,000 8,000 REQUIRED: Determine total that should be included in cash balance at December 31, 2013. Grain Company's general ledger showed a balance of P2,205,600 in its "Cash" account on December 31, 2013. Included in this balance are the following items: DAIF checks returned by bank Saving account IOUS Postage stamps Bank draft Cash on Hand Cash in sinking fund Customers' checks dated January, 2014 Travel advances Traveler's Check P 20,000 750,000 1,200 600 10,000 30, 000 500,000 5,400 4,000 8,000 REQUIRED: Determine total that should be included in cash balance at December 31, 2013.
Expert Answer:
Answer rating: 100% (QA)
TRIAL BALANCE FOR GRAIN COMPANY AS AT 31st DEC 2013 Details Dr Cr Open... View the full answer
Related Book For
Financial and Managerial Accounting
ISBN: 978-1119392132
3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
Students also viewed these accounting questions
-
The accounting records of Osgood Carpets showed a balance of $3,000 in Estimated Warranty Payable at December 31, 2013. In the past, Osgoods warranty expense has been 5% of sales. During 2014, Osgood...
-
The accounting records of Atkinson Books showed a balance of $2,000 in Estimated Warranty Payable at December 31, 2013. In the past, Atkinson's warranty expense has been 6% of sales. During 2014,...
-
The accounting records of Thompson Carpets showed a balance of $2,000 in Estimated Warranty Payable at December 31, 2015. In the past, Thompson Carpets' warranty expense has been 3 percent of sales....
-
. What impacts of influences adult human behavior? Perspective Support: You must critically evaluate the issue and address the question: " What influences or impacts personality development?" by...
-
Determine Vo for the network of Fig. 8.81 if yos = 20 μS. +16 V 1.1k lass = 8 mA 10
-
How effective is virtuous leadership in healthcare organizations?
-
6. One of the most common deferred-tax liabilities occurs because of accelerated depreciation. When is the difference between reported taxes and cash taxes likely to be greatest? When will it be...
-
Bane Industries has a capital structure consisting of 60 percent common stock and 40 percent debt. The firms investment banker has advised the firm that debt issued with a $1,000 par value, 8 percent...
-
Milano Pizza is a small neighborhood pizzeria that has a small area for in-store dining as well as offering take-out and free home delivery services. The pizzeria's owner has determined that the shop...
-
What was the Prime Cost Percent for Mandy's BBQ Pit for August? Select one: a. 46.5% b. 73.9% c. 63.4% d. 85%
-
Solve the problem Using the information in the table on home sale prices in the city of Summerhill for the month of June find the class boundaries for class 80 0 110 9 Home Sale Prices in Summerhill...
-
Identify whether the following statements are true or false: a. U.S. GAAP is universally accepted in all countries in the world. b. U.S. GAAP is established by the IASB. c. Once established, U.S....
-
Determine the missing amount in each of the following cases: Assets Liabilities $190,000 $62,000 ? $53,000 $115,000 ? Stockholders' Equity ? $31,000 $61,000
-
For the following four unrelated situations, A through D, calculate the unknown amounts appearing in each column: A B C Beginning Assets. $45,000 $32,000 $53,000 ? Liabilities.. 32,000 15,000 49,000...
-
On December 31, Greg Jones completed his first year as a financial planner. The following data are available from his accounting records: a. Compute Greg's net income for the year just ended using...
-
The Benson Company has collected the following production cost data: {Required:} What would be the incremental production costs for an additional 10 units after the Benson Company has produced 8...
-
example: b) Find the admissible heuristic for the following 8 puzzle problem. 5 10 9 3 8 11 2 12 6 13 1 14 7 4 4 15 1 N 3 4 5 6 7 8 9 10 11 12 13 14 15 Admissible heuristics Q: find the heuristic for...
-
Rowland Textile Inc. manufactures two products: sweatshirts and T-shirts. The manufacturing process involves two activities: cutting and sewing. Expected overhead costs and cost drivers are as...
-
Moreno Company publishes a monthly sports magazine, Fishing Preview. Subscriptions to the magazine cost $20 per year. During November 2020, Moreno sells 15,000 subscriptions beginning with the...
-
Happy Camper Park, Inc. was organized on April 1, 2019, by Barbara Evans. Barbara is a good manager but a poor accountant. From the trial balance prepared by a part-time bookkeeper, Barbara prepared...
-
At May 31, 2020, the accounts of Lopez Company show the following. 1. May 1 inventoriesfinished goods $12,600, work in process $14,700, and raw materials $8,200. 2. May 31 inventoriesfinished goods...
-
What does a statement of stockholders' equity show? AppendixLO1
-
Where is accumulated depreciation reported on the balance sheet? AppendixLO1
-
What was Tootsie Roll's largest current asset at December 31, 2001? The answer to this question is provided on page101. AppendixLO1
![Mobile App Logo](https://dsd5zvtm8ll6.cloudfront.net/includes/images/mobile/finalLogo.png)
Study smarter with the SolutionInn App