Hatch Company shows the following account balances in its financial records as of December 31, 2020: Cashier's check P 46,000 65,000 IOU from the president's sister Bank draftA Traveler's check Undeposited checks (includes a P100,000 check not accepted by the bank due to lack of countersignature) Money order Petty cash fund (bills and coins of P4,000) 40,000 S. 40,000 220,000 50,000 12,000 Checking account - Unibank 450,000 (85,000) 325,000 6,500 What is the cash balance to be reported on the statement of financial position? Checking account - Tribank Savings account - Unibank Postage stamps
Hatch Company shows the following account balances in its financial records as of December 31, 2020: Cashier's check P 46,000 65,000 IOU from the president's sister Bank draftA Traveler's check Undeposited checks (includes a P100,000 check not accepted by the bank due to lack of countersignature) Money order Petty cash fund (bills and coins of P4,000) 40,000 S. 40,000 220,000 50,000 12,000 Checking account - Unibank 450,000 (85,000) 325,000 6,500 What is the cash balance to be reported on the statement of financial position? Checking account - Tribank Savings account - Unibank Postage stamps
Financial Accounting
14th Edition
ISBN:9781305088436
Author:Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:Carl Warren, Jim Reeve, Jonathan Duchac
Chapter8: Sarbanes-oxley, Internal Control, And Cash
Section: Chapter Questions
Problem 18E
Related questions
Question
Kindly answer in good accounting form. Preferably in table :)
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Financial Accounting
Accounting
ISBN:
9781305088436
Author:
Carl Warren, Jim Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:
9781337280570
Author:
Scott, Cathy J.
Publisher:
South-Western College Pub
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning