Solution-What amount should be reported as cash

What amount should be reported as cash

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Question - Princess Co.'s checkbook balance on December 31,20x3 was P5,000. In addition, Princess held the following items in its safe of that date:

Check payable to Princess, dated January 2.20x4, in payment of sale made in December 20x3, not included in December 31 checkbook balance - P2 000

Check payable to Princess, deposited December 15 and included in December 31 checkbook balance, but returned by bank on December 30 stamp NSF. The check was redeposited on January 2,20x4 and cleared on January 9 - P500

Check drawn on Princess's account, payable to a vendor, dated and recorded in Princess's book on December 31 but not mailed until January 10,20x4 - P300

What amount should be reported as cash?

Reference no: EM132480162

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What amount should be reported as cash

Reference no: EM132480162

Reference no: EM132480162

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