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What amount should be reported as cash

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Question - David Company prepared the following bank reconciliation on December 31,201A:

Balance per bank statement P 2,800,000

Add: Deposit in Transit P 195,000

Checkbook printing charge 5,000

Error made by David in recording Check No.14

(Issued in December) 35,000

NSF Check 110,000 345,000

P 3,145,000

Less: Outstanding checks 100,000

Note collected (includes P15,000 interest) 215,000 315,000

Balance per books P 2,830,000

The entity had P200,000 cash on hand on December 31,201A. What amount should be reported as cash in the statement of financial position on December 31,201A?

Reference no: EM132854926

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