KORSTOCKS Company provided the following information on December 31, 2021. Cash on Hand 200,000 Philippine Bank Current Account 5,000,000 Manila bank current account 4,000,000 City Bank current account (bank overdraft) (100,000) Asia Bank savings account for equipment acquisition 250,000 Asia Bank Time Deposit, 90 days 2,000,000 Included among the checks drawn by KORSTOCKS against Philippine Bank current account and recorded in December 2021 are: a. check written and dated December 23, 2021 and delivered to payee on January 3, 2022, P 100,000 b. check written December 26, 2021, dated January 30, 2022, delivered to payee on December 28, 2021, P 150,000 what amount should be reported as cash and cash equivalents on December 31, 2021? a. 11,200,000 b. 11,450,000 c. 10,950,000 d. 11,700,000
KORSTOCKS Company provided the following information on December 31, 2021.
Cash on Hand 200,000
Philippine Bank Current Account 5,000,000
Manila bank current account 4,000,000
City Bank current account (bank overdraft) (100,000)
Asia Bank savings account for equipment acquisition 250,000
Asia Bank Time Deposit, 90 days 2,000,000
Included among the checks drawn by KORSTOCKS against Philippine Bank current account and recorded in December 2021 are:
a. check written and dated December 23, 2021 and delivered to payee on January 3, 2022, P 100,000
b. check written December 26, 2021, dated January 30, 2022, delivered to payee on December 28, 2021, P 150,000
what amount should be reported as cash and cash equivalents on December 31, 2021?
a. 11,200,000
b. 11,450,000
c. 10,950,000
d. 11,700,000
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