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Check drawn on san miguels account payable to

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Check drawn on San Miguel’s account, payable to supplier, datedand recorded on December 31, 2015 but not mailed untiluntilJanuary2016………………………………………………………500,000Cash in sinking fund……………………………………………………………..2,000,000On December 31, 2015, what amount of cash should be reported as cashunder current assets?a.P 4,500,000b.P 5,500,000c.P 3,500,000d.P 6,500,000
19.On December 31, 2015, DALTA Inc. reported cash accounts with thefollowing details:p.The cash amount shown in the balance sheet must be the balanceq.Outstanding checks will cause the cash balance per ledger to be greaterthan the balance reported by the bank, all other things being equalcc.A three-year treasury note maturing on May 30 of the current yearpurchased by the entity on April 15 of the current yeardd.A three-year treasury note maturing on May 30 of the current yearpurchased by the entity on January 15 of the current yearee.A 90-day T-bill
FINANCIAL ACCOUNTING 1
50.As of December 31 of the current year, an entity had various checksand papers in its safe. Which item should not be in its cash account in thecurrent year-end balance sheet?
51.Which item should be excluded from cash and cash equivalent on thecurrent year-end balance sheet of an entity?
52.Which item should be excluded from cash and cash equivalent on thecurrent year-end balance sheet of an entity?
53.At December 31 of the current year, an entity had cash accounts atthree different banks. One account balance is segregated solely for paymentinto a bond sinking fund. A second account, used for branch operations, isoverdrawn. The third account, used for regular corporate operations, has apositive balance. How should these accounts be reported in the December31 classified balance sheet?

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Term
One
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Tags
Balance Sheet, Generally Accepted Accounting Principles, San Miguel Corporation

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