Paciano Company had the following balances at December 31, 2023: Cash in checking account Cash in money market account - 60 days Treasury bill, purchased Dec. 1, 2023 maturing Feb 28, 2024 Treasury note, purchased Mar. 1, 2023 maturing Feb. 28, 2024 P500,000 200,000 500,000 700,000 What amount should Paciano Company report as cash and cash equivalents in its December 31, 2023 statement of financial position?

Paciano Company had the following balances at December 31, 2023: Cash in checking account Cash in money market account - 60 days Treasury bill, purchased Dec. 1, 2023 maturing Feb 28, 2024 Treasury note, purchased Mar. 1, 2023 maturing Feb. 28, 2024 P500,000 200,000 500,000 700,000 What amount should Paciano Company report as cash and cash equivalents in its December 31, 2023 statement of financial position?

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 22MC: A company collects an honored note with a maturity date of 24 months from establishment, a 10%...

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Johnson Company had the following balances on December 31, 2019: Cash in checking account 250,000 Cash in money market account 500,000 Treasury bill, purchased November 1, 2019 maturing January 31, 2020 4,500,000 Time deposit purchased December 1, 2019 maturing March, 31, 2020 3,000,000 What amount should be reported as “cash and cash equivalents” on Dec. 31, 2019?
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