What is the correct cash balance to be reported

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Reference no: EM132844416

Question - Checking Account at Morgan bank (20,000) Checking Account at Land bank 500,000

Payroll at national bank 100,000

Foreign bank accounts restricted. 750,000

Postage stamps 22,000

Employees post dated checks 30,000

I.O.U. from president's brother 75,000

Travelers check 50,000

No sufficient funds check 18,000

Petty cash fund ( P16,000 in currency & expenses receipt for 84,000) 100,000

Cashier check 36,000

What is the correct cash balance to be reported in the statement of financial position or Surigao Company on December 31, 2020?

Reference no: EM132844416

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