Reference no: EM132636017
The following cash items are presented by Bahamas Company:
Credit line (PNB) P500,000
Bounced check from customers 10,000
Undeposited coins and currencies 20,000
Time Deposit - restricted for current use 500,000
Money market funds 750,000
BPI Checking Account No. 54321 400,000
Amount segregated to pay creditors 300,000
Amount earmarked for construction of building 2,000,000
Problem 1: How much should Bahamas Company report as "Cash" in its December 31, 2019 statement of financial position?
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