Question
Wimbledon Company provided the following information regarding the composition of its cash account on December 31, 2020: Checking account- BPI Savings account- BPI P1,200,000
Wimbledon Company provided the following information regarding the composition of its cash account on December 31, 2020: Checking account- BPI Savings account- BPI P1,200,000 1,500,000 Cash on hand 10,000 Travel advances of employee to be paid through salary deduction Separate cash fund, restricted for the retirement of long-term assets 120,000 1,000,000 Savings account includes P200,000 holdout against short-term borrowing arrangements. In the current assets section of Wimbledon Co. 's December 31, 2019 statement of financial position, how much should be reported as cash?
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Intermediate Accounting
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
1st edition
978-0133251579, 133251578, 013216230X, 978-0134102313, 134102312, 978-0132162302
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