ndie Company had the following account balances at December 31, 2021: Cash in Metrobank (includes P300,000 of compensating balance against short term borrowing arrangements. The compensating balance is not legally restricted as to withdrawal by Indie Company) - P1,875,000 Cash in BPI - P180,000 Cash on hand (includes a customers check for P15,000 dated January 5, 2022) - P125,000 Cash restricted for acquisition of machinery (expected to be disbursed in 2022) - P1,600,000 How much is the total cash reported in the current asset section of Indie Company's December 31, 2021 statement of financial position?
ndie Company had the following account balances at December 31, 2021: Cash in Metrobank (includes P300,000 of compensating balance against short term borrowing arrangements. The compensating balance is not legally restricted as to withdrawal by Indie Company) - P1,875,000 Cash in BPI - P180,000 Cash on hand (includes a customers check for P15,000 dated January 5, 2022) - P125,000 Cash restricted for acquisition of machinery (expected to be disbursed in 2022) - P1,600,000 How much is the total cash reported in the current asset section of Indie Company's December 31, 2021 statement of financial position?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 12E: Inferring Accounts Receivable Amounts At the end of 2019, Karras Inc. had a debit balance of 141,120...
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Indie Company had the following account balances at December 31, 2021:
Cash in Metrobank (includes P300,000 of compensating balance against short term borrowing arrangements. The compensating balance is not legally restricted as to withdrawal by Indie Company) - P1,875,000
Cash in BPI - P180,000
Cash on hand (includes a customers check for P15,000 dated January 5, 2022) - P125,000
Cash restricted for acquisition of machinery (expected to be disbursed in 2022) - P1,600,000
How much is the total cash reported in the current asset section of Indie Company's December 31, 2021 statement of financial position?
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