Solution-What amount should mursi report as cash and cash

What amount should mursi report as cash and cash equivalents

Assignment Help Financial Accounting

Reference no: EM133009812

At December 31, 2015, Mursi Co. had the following balances in the accounts it maintains at First State Bank:

Checking account #101 - P175,000;

Checking account #201 - (10,000);

Money market account - 25,000;

90-day certificate of deposit, due 2/28/16 - 50,000;

180-day certificate of deposit, due 3/15/16 - 80,000.

Problem 1: In its December 31, 2015 statement of financial position, what amount should Mursi report as cash and cash equivalents?

a. P240,000
b. P320,000
c. P190,000
d. P200,000

Reference no: EM133009812

Questions Cloud

Recruiting people at megaburger : MegaBurger is a chain of fast food restaurants. Its slogan is "Best Service. Big Smiles and Great Food." The company has 800 hamburger restaurants around the UK

Compute the rate ofreturn on the investment : Compute the rate ofreturn on the investment by taking 4.5% annual cost of interest and 0.6% brokerage fees of transaction value for each way of the transaction?

What are the eight steps to inclusion : Consider the eight steps to inclusion highlighted in this week's readings and videos. Then answer the following two questions:

Calculate the tax to be paid by tom on dividend income : Calculate the tax to be paid by Tom on dividend income. Tom owns 1,400 shares in BBPG Ltd. BBPG declares a $0.3 fully franked dividend per share

What amount should mursi report as cash and cash equivalents : At December 31, 2015, In its December 31, 2015 statement of financial position, what amount should Mursi report as cash and cash equivalents?

Describe the culture of the organization you work for : Can you describe the culture of the organization you work for? Before this week, had you ever thought about the culture of your organization? If you work for a

What is the adjusted cash in bank on april : What is the adjusted cash in bank on April 30? Check deposited by Letty during April was not collectible and has been marked "NSF" by the bank.

Stages of google recruitment process : Describe what might be the different stages of Google's recruitment process.

Knowledge of volunteerism : A knowledge of volunteerism and why you believe volunteerism is important to society and yourself.

User Account

All Pages

What amount should mursi report as cash and cash equivalents

Reference no: EM133009812

Reference no: EM133009812

Questions Cloud

Reviews

Write a Review

Financial Accounting Questions & Answers

Financial statement analysis and preparation

Shareholder of a company

Financial and accounting principles

Prepare a statement of cash flow using the direct method

Financial accounting assignment

Prepare general journal entries for goela

Principles of financial accounting

Prepare general journal entries to record the transactions

Global reporting initiative

Explain the iasb conceptual frameworks

Determine the company''s financial statements

Computation of free cash flow

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT