The December 31,2019 trial balance of Aboitiz Equity Ventures, Inc., includes the following accounts: Cash on hand P 500,000 Petty cash fund 20,000 Security bank current account 1,000,000 Metrobank current account #1 400,000 Metrobank current account #2 ( 50,000) BSP treasury bill – 60 days 3,000,000 BPI time deposit - 30 days 2,000,000 • The cash on hand includes a customer postdated check of P100,000 and postal money order of P40,000. • The petty cash fund includes unreplenished petty cash vouchers for P2,000 and an employee check for P3,000 dated January 31,2020. • A check for P200,000 was drawn against Security bank account, dated January 15,2020, delivered to the payee and recorded December 31,2019. The correct amount of “cash” to be reported in the statement of financial position on December 31,2019 is?
The December 31,2019
accounts:
Cash on hand P 500,000
Petty cash fund 20,000
Security bank current account 1,000,000
Metrobank current account #1 400,000
Metrobank current account #2 ( 50,000)
BSP treasury bill – 60 days 3,000,000
BPI time deposit - 30 days 2,000,000
• The cash on hand includes a customer postdated check of P100,000 and postal money
order of P40,000.
• The petty cash fund includes unreplenished petty cash vouchers for P2,000 and an
employee check for P3,000 dated January 31,2020.
• A check for P200,000 was drawn against Security bank account, dated January 15,2020,
delivered to the payee and recorded December 31,2019.
The correct amount of “cash” to be reported in the
December 31,2019 is?
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