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Compute how much should be reported as cash on december

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Reference no: EM132746192

Company A had the following account balances on December 31, 2019:

Cash in bank A - rank and file payroll account 200,000

Cash in bank B - savings account 123,456

Cash in bank C - checking account2 2,500,555

Cash in bank D - savings account 2,000

Cash in bank E - checking account1 676,777

Cash in bank F - managerial payroll account 711,711

  1. Set aside for plant expansion planned to start on January 15, 2020
  2. Used on February 14, 2020 to buy land

Problem 1: How much should be reported as cash on December 31, 2019?

Reference no: EM132746192

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