On December 20, 2019, ABC Co. received a P100,000 check dated January 10, 2020, for the sale

Fantastic news! We've Found the answer you've been seeking!

Question:

On December 20, 2019, ABC Co. received a P100,000 check dated January 10, 2020, for the sale of merchandise. In ABC Co.’s December 31, 2019 balance sheet, can the check to be considered cash? (Yes or No)

Related Book For answer-question

Business Law and the Legal Environment

ISBN: 978-1111530600

6th Edition

Authors: Jeffrey F. Beatty, Susan S. Samuelson, Dean A. Bredeson

See More Books

Posted Date: Aug 01, 2021 07:25 AM

See More Questions

Hudson Dealership Inc s December 31 2016 balance sheet Prepare a properly classified balance sheet for Lloyd s Hudson Dealership as of December 31 2016 List the additional parenthetical or note...
Was the agreement one for the sale of goods, requiring a writing, or for services, enforceable with no writing? During the Jewish holidays, Fallsview Glatt Kosher Caterers organized programs at...
When a contract provides for the sale of goods subject to the buyers approval, the transaction is a sale on approval. What are the benefits to the buyer of this type of sales transaction?
The number of males per 100 females, age 70 or over, in the United States for some recent years is shown in the following table. (a) Plot the data, letting t be the years since 1970. (b) Would a...
The risk of an investment is measured in terms of the variance in the return that could be observed. Random samples of 10 yearly returns were obtained from two different portfolios. The data are...
How could McNeil have predicted the negative impact of the Motrin ad?
A muon (a charged particle with a mass between that of an electron and a proton that is found in cosmic rays) follows a circular orbit in earth's $50 \mu \mathrm{T}$ field at a frequency of \(6.8...
Sudss Bottling Company does bottling Labeling, and distribution work for several local microbreweries. The demand rate for Wortmans beer is 600 cases [24 bottles each) per week. Sudss bottling...
OnlineEduc has an EPS of 5, with 12 million shares outstanding. The shares are trading at 13 each. It is thinking of acquiring ClassRoom that has an EPS of 1, with 10 million shares outstanding which...
Machine Builders Inc. adopted a standard cost system several years ago that it uses in conjunction with its process cost system. The per-unit standard costs for direct materials and direct labor for...
Continuing Problem (Questions 1 through 10) textbook pages 456 2019 Town of Cary, NC CAFR is used for these questions Does the Town of Cary, NC maintain any permanent funds? Yes or No...
Chlorination is the usual method for disinfecting water. a. Name the two parameters that control the extent of disinfection. b. Why is it necessary to guard against an overdose of chlorine? c. Assume...
Suppose a firm has the following information: Cash = $500,000; shortterm investments = $2.5 million; accounts receivable = $1.2 million; inventories = $1 million; and net plant and equipment = $7.8...
Suppose a firm has the following information: Sales = $10 million; costs of goods sold (excluding depreciation) = $5 million; depreciation = $1.4 million; other operating expenses = $2 million;...
Determine the headwater depth for a culvert that conveys a flow of 0. 5 m 3 /s under inlet control conditions. The culvert is circular and has a square edge inlet which is mitered with a headwall and...
Suppose a firm has the following information: Operating current assets = $2.7 million; operating current liabilities= $1.5 million; long-term bonds = $3 million; net plant and equipment = $7.8...
Pearson Sign In C brightspace.algonquincollege.com/d2l/lms/quizzing/user/attempt/quiz_start_frame_auto.d2l?ou=466725&isprv=&drc=0&qi=5317... Quiz 3 Modules 11 -12 plus review Time Limit: 2:00:00...
Flicker, Inc., a closely held corporation, acquired a passive activity this year. Gross income from operations of the activity was $160,000. Operating expenses, not including depreciation, were...
Has Network violated Systemss trademark by purchasing it as a Google keyword? Network Automation and Advanced Systems Concepts both sold job scheduling and management software, and both advertised on...
Dutch, Bill, and Heidi were equal partners in a lawn care business. Bill and Heidi wanted to borrow money from the bank to buy more trucks and expand the business. Dutch was dead set against the...
The Aviation Security Improvement Act (ASIA) states that the FAA can refuse to divulge information about airport security. The FAA interprets this to mean that it can withhold data in spite of the...
The plaintiff [Christine Parent] leased an automobile from Amity Autoworld, Ltd. (hereafter Amity) [in Amityville, New York] in January 2002. Amity sold all its Toyota automobile franchise assets * *...
In 1994, [Alvin Gebhart] began working at Mutual of New York (MONY) in San Diego, where he sold annuities and mutual funds. While at MONY, Gebhart met Jack Archer, a fellow MONY salesperson. In 1995,...
Iberia Surgical [LLC] was formed, in August 1998, by a group of physicians practicing in Iberia Parish [Louisiana] for the purpose of establishing an ambulatory, outpatient surgery center. * * * Dr....

On December 20, 2019, ABC Co. received a P100,000 check dated January 10, 2020, for the sale

Question:

Expert Answer:

It was not considered ... View the full answer

Business Law and the Legal Environment

Students also viewed these accounting questions