Islander Company provided the following information with the respect to the cash and cash equivalentson December 31,
Fantastic news! We've Found the answer you've been seeking!
Question:
Checking account at XYZ Bank
(200,000)
Checking account at ABC Bank
3,500,000
Treasury bonds
1,000,000
Payroll account
500,000
Value added tax account
400,000
Foreign bank account - unrestricted (in equivalent pesos)
2,000,000
Postage stamps
50,000
Employee's postdated check
300,000
IOU from president
750,000
Traveler's check
300,000
NSF customer check
150,000
Petty cash fund - comprising P20,000 in currency and expenses
receipts for P30,000
50,000
Money order
180,000
What amount should be reported as unrestricted cash on December 31, 2019?
Related Book For
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson
Posted Date: