Problem 1-10 (IAA)
Yasmin Company provided the following on December 31, 2024:
Petty cash fund 50,000
Current account - First Bank 4,000,000
Current account-Second Bank (overdraft) ( 250,000)
Money market placement-Third Bank 1,000,000
Time deposit-Fourth Bank 2,000,000
• A check for P100,000 was drawn against First Bank current account dated and
recorded December 29, 2024 but delivered to payee on January 15, 2025.
• The Fourth Bank time deposit is set aside for land acquisition in early January
2025.
What total amount should be reported as cash and cash equivalents on December 31,
2024?
a. 5,050,000
b. 5,150,000
c. 4,900,000
d.4,150,000
This study source was downloaded by 100000899194722 from CourseHero.com on 05-30-2025 14:58:42 GMT -05:00
https://www.coursehero.com/file/249172471/Problem-1-10-INTACC-1pdf/
Yasmin Company provided the following on December 31, 2024:
Petty cash fund 50,000
Current account - First Bank 4,000,000
Current account-Second Bank (overdraft) ( 250,000)
Money market placement-Third Bank 1,000,000
Time deposit-Fourth Bank 2,000,000
• A check for P100,000 was drawn against First Bank current account dated and
recorded December 29, 2024 but delivered to payee on January 15, 2025.
• The Fourth Bank time deposit is set aside for land acquisition in early January
2025.
What total amount should be reported as cash and cash equivalents on December 31,
2024?
a. 5,050,000
b. 5,150,000
c. 4,900,000
d.4,150,000
This study source was downloaded by 100000899194722 from CourseHero.com on 05-30-2025 14:58:42 GMT -05:00
https://www.coursehero.com/file/249172471/Problem-1-10-INTACC-1pdf/
