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Ex-2-1 | |
Grimme's Statement of Financial Position | |
Amount to be reported as "cash" | |
As at Dec 31, 2020 | |
Currencies & coins awaiting deposit | 45000 |
Checking account balance | 185000 |
Undeposited receipts(160000-35000) | 125000 |
Savings account balance | 250000 |
Total to be reported as cash | 605000 |
Note: | |
NSF check-- 40000& post-dated check --35000 are not considered as cash & IOUs--15000 are considered as other investments | |
Ex.2-2 | |
Hatch Company | |
Amount to be reported as "cash" | |
As at Dec 31, 2020 | |
Cashier's check | 46000 |
Bank draft | 40000 |
Traveler's check | 40000 |
Undeposited checks(220000-100000) | 120000 |
Money order | 50000 |
Petty cash fund | 12000 |
Checking account-Unibank | 450000 |
Checking account-Tribank | -85000 |
Savings account-Unibank | 325000 |
Total to be reported as cash | 998000 |
Other Investments | |
IOU from President's sister | 65000 |
Postage stamps | 6500 |
Total | 71500 |
Check withoout countersignature-- 100000, not considered cash | |