Compute the amount to be presented as cash and cash equivalents on December 31, 2022
The following data pertain to ABC Corporation on December 31, 2022
Current account at China Bank - P1,800,000
Current account at RCBC Bank - (100,000)
Foreign bank account – restricted (in equivalent pesos) - 1,000,000
Savings deposit in a closed bank - 150,000
Employee’s post-dated check - 4,000
IOU from employees - 10,000
Traveler’s check - 50,000
Petty cash fund (P4,000 in currency and expense receipts for P6,000) - 10,000
Pension fund - 2,000,000
DAIF check of customer - 15,000
ABC’s check outstanding for 18 months - 70,000
Time deposit – 30 days - 200,000
Treasury bills, due 3/31/23 (purchased 12/31/22) - 200,000
Treasury bills, due 1/31/23 (purchased 1/2/22) - 300,000
Compute the amount to be presented as cash and cash equivalents on December 31, 2022.
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