Reference no: EM132668657
Uno Company showed the following unadjusted cash balances at December 31, 2019:
Undeposited coin and currency - cash on hand 500,000
Cash in bank - current account 6,000,000
Company checks written and deducted from the current account
but not scheduled to be mailed until January 2, 2020 1,000,000
Time deposits restricted for use (expected use in 2020) 2,000,000
Uno Company's bank statement for the month of December included the following information:
Bank Service charge for December 20,000
Check deposited by Uno during December was not collectible
and has been marked "NSF" by the bank and returned 100,000
In comparing the bank statement to its own cash records, Uno found:
Deposits made but not yet recorded by the bank 2,500,000
Checks written and mailed but not yet recorded by the bank 1,300,000
All the deposits in transit and outstanding checks have been properly recorded in Uno's books. Uno also found a check for P200,000, payable to Uno, that had not yet been deposited and had not been recorded in Uno's books. Uno agreed to maintain a minimum balance of P50,000 in its unrestricted current account in exchange for a guaranteed line of credit.
Problem 1: How much should Uno report as "cash and cash equivalents" at its December 31, 2019 balance sheet?
Group of answer choices
a. P7,530,000
b. P7,580,000
c. P9,580,000
d. P7,380,000
|
Draw and design lap winding for a 3 phase
: Draw and design lap winding for a 3 phase, 4 pole armature having 12 slots. Each slot can accommodate 4 coil sides - coil sides per slot is to be wound
|
|
Summarize all of the activity of the federal government
: In this unit, you will see information about laws that have been passed several years ago, but you may not see all of the updates and changes that the.
|
|
Organizational ethical analysis
: What is the organization and how would you describe it? Based on your assessment and research, is the organization ethical?
|
|
What amount of income before tax should be reported
: Ronald Company, which began operations on January 1, 2X15, What amount of income before tax should be reported in the 2X16 income statement?
|
|
How much should uno report as cash and cash equivalents
: All the deposits in transit and outstanding checks, How much should Uno report as "cash and cash equivalents" at its December 31, 2019 balance sheet?
|
|
Evaluate recurring risks and explain in detail the plan
: As the HU Investment Firm cybercrime expert, you are required to create a Cybercrime Mitigation Plan. The overall cybercrime mitigation plan should be written.
|
|
Concerned about the possible bribery
: Do you have any reason to be concerned about the possible bribery if you purchase the venture in three years? Why or why not?
|
|
What amount of uncollectible account expense was recorded
: What amount of uncollectible account expense was recorded for December? On July 1, 2018 the company sold equipment to Virgin Company for P10,000,000.
|
|
Resistance to Change of Managing Organizational Change
: Identify the risks associated with the need for change in Strickland Corporation.
|