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What the proper amount to be reported on finley statement

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Reference no: EM132569947

Finley, Inc.'s checkbook balance on December 31, 2016 was P21,200. In addition, Finley held the following items in its safe on December 31.

(1) A check for P450 from Peters, Inc. received December 30, 2016, which was not included in the checkbook balance.

(2) An NSF check from Garner Company in the amount of P900 that had been deposited at the bank, but was returned for lack of sufficient funds on December 29. The check was to be redeposited on January 3, 2017. The original deposit has been included in the December 31 checkbook balance.

(3) Coin and currency on hand amounted to P1,450.

Question 1: The proper amount to be reported on Finley's statement of financial position for cash at December 31, 2016 is

Select one:

a. P22,200.

b. P21,300.

c. P20,400.

d. P21,750.

Reference no: EM132569947

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