Reference no: EM132624868
Question - Blue Company had the following cash balances at December 31, 2017:
Undeposited currency and coins P 35,000
Unrestricted demand deposits 1,450,000
Company checks written (and deducted from the
Demand deposits amount) but not scheduled
to be delivered until January 6, 2018 180,000
Time deposits restricted for use (expected use in 2018) 3,000,000
In exchange for a guaranteed line of credit, Blue has agreed to maintain a minimum balance of P150,000 in its unrestricted demand deposit account. How much should Blue report as cash on its December 31, 2017 balance?
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