The cash account of Ria on December 31, 2018 has a balance of P151,000 and it consists of the following:

Bills and coins on handP52,780Traveler's check22,400Credit memo from supplier for purchase returns 6,500Postage stamps120Petty cash including paid cash vouchers of P1,6502,000Balance in Savings Account with a bank closed by the BSP36,000Customer's check dated January 15, 20168,000Money order800IOU of an employee400Checking Account Balance in Bank of Philippine Island22,000 Total P151,000



The correct cash and cash equivalents balance on December 31, 2018 is?

Answer rating: 100% (QA)

To determine the correct cash and cash equivalents balance on December 31 2018 we need to identify t... View the full answer