Presented below pertains to Amsterdam Corporation on December 31, 2020: Treasury warrants Treasury bills, due on...

  

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Presented below pertains to Amsterdam Corporation on December 31, 2020: Treasury warrants Treasury bills, due on 1/31/2021 (purchased on 1/31/2020) Treasury bills, due on 3/31/2021 (purchased on 12/31/2020) Postage stamps CM from Tokyo Corporation, a vendor, for a purchase return BPI Checking account Metrobank Checking account Postal Money Order Traveler's check Postdated check of Donald Tramp, an employee 300,000 300,000 200,000 1,000 20,000 (100,000) 2,000,000 30,000 50,000 4,000 Restricted foreign bank account (equivalent to pesos_ IOU from eldest brother of Jonathan Fabian, the company controller Listed stocks held as temporary investments Payroll account Petty Cash fund (net of expense receipts pf P 6,000) 1,000,000 10,000 15,000 500,000 4,000 Additional information: 1. Check of P 200,000 in payment of accounts payable was recorded December 31, 2020 but mailed to suppliers on January 5, 2021. 2. Check of P 100,000 dated January 5, 2021 in payment of accounts payable was recorded and mailed on December 31, 2020. 3. Check of P 50,000 dated January 15, 2020 in payment of accounts payable was recorded and mailed on January 15, 2020. As of the reporting period, the same has not been encashed by the payee and still outstanding. 16. How much cash and cash equivalents should Amsterdam Corporation report on the December 31, 2020 statement of financial position? Presented below pertains to Amsterdam Corporation on December 31, 2020: Treasury warrants Treasury bills, due on 1/31/2021 (purchased on 1/31/2020) Treasury bills, due on 3/31/2021 (purchased on 12/31/2020) Postage stamps CM from Tokyo Corporation, a vendor, for a purchase return BPI Checking account Metrobank Checking account Postal Money Order Traveler's check Postdated check of Donald Tramp, an employee 300,000 300,000 200,000 1,000 20,000 (100,000) 2,000,000 30,000 50,000 4,000 Restricted foreign bank account (equivalent to pesos_ IOU from eldest brother of Jonathan Fabian, the company controller Listed stocks held as temporary investments Payroll account Petty Cash fund (net of expense receipts pf P 6,000) 1,000,000 10,000 15,000 500,000 4,000 Additional information: 1. Check of P 200,000 in payment of accounts payable was recorded December 31, 2020 but mailed to suppliers on January 5, 2021. 2. Check of P 100,000 dated January 5, 2021 in payment of accounts payable was recorded and mailed on December 31, 2020. 3. Check of P 50,000 dated January 15, 2020 in payment of accounts payable was recorded and mailed on January 15, 2020. As of the reporting period, the same has not been encashed by the payee and still outstanding. 16. How much cash and cash equivalents should Amsterdam Corporation report on the December 31, 2020 statement of financial position?

Answer rating: 100% (QA)

Calculate the cash equivalents to be shown in balance sheet of Amsterdam Corporation of D... View the full answer