BDO Company provided the following data: Savings Account - P10,000,000 Treasury Bills (3 months before maturity) - P1,000,000 3-month Time Deposit - P5,000,000 Current Account - P15,000,000 The cash...

BDO Company provided the following data:<br>Savings Account - P10,000,000<br>Treasury Bills (3 months before maturity) - P1,000,000<br>3-month Time Deposit - P5,000,000<br>Current Account - P15,000,000<br>The cash in bank included P1,000,000 of compensating balance against short term borrowing arrangement<br>on December 31, 2017. The compensating balance is not legally restricted as to withdrawal. A check of<br>P3,000,000 dated January 31, 2018 in payment of accounts payable was recorded and mailed on<br>December 31, 2017.<br>What amount should be reported as Cash on December 31, 2017?<br>

Extracted text: BDO Company provided the following data: Savings Account - P10,000,000 Treasury Bills (3 months before maturity) - P1,000,000 3-month Time Deposit - P5,000,000 Current Account - P15,000,000 The cash in bank included P1,000,000 of compensating balance against short term borrowing arrangement on December 31, 2017. The compensating balance is not legally restricted as to withdrawal. A check of P3,000,000 dated January 31, 2018 in payment of accounts payable was recorded and mailed on December 31, 2017. What amount should be reported as Cash on December 31, 2017?

Jun 11, 2022

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BDO Company provided the following data: Savings Account - P10,000,000 Treasury Bills (3 months before maturity) - P1,000,000 3-month Time Deposit - P5,000,000 Current Account - P15,000,000 The cash...

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