Please answer it within 45mins.it's cash and cash equivalents topic. In connection with your audit of Big Brother Corp. for the year ended December 31, 2014, you gathered the followinginformation:Current account at Bank of the Philippine IslandsP6,000,000Current account at Equitable PCI Bank(300,000)Payroll account1,500,000Foreign bank account - restricted (in USD) *60,000Postage stamps3,000Employee's post-dated check12.000IOU from a key officer30,000Credit memo from a vendor for a purchase return60.000Traveler's check150,000Customer's not-sufficient-funds check45.000Money orders90,000Petty cash fund (P12,000 in currency and expense vouchers for30,000P17,500)Treasury bills, due 3/31/15 (purchased 12/31/14)600,000Treasury bills, due 1/31/15 (purchased 1/1/14)900.000Change fund10,000Bond sinking fund1,000,000"current exchange rate as of December 31. 2014 is at P50 for every USD1.What is the total cash and cash equivalent to be reported by the company in its December 31, 2014 balance sheet?

Cash and Cash equivalents refer to the currents assets of the company that are in Cash, Bank or can…

Answered: What is the total cash and cash…

Business

Accounting

What is the total cash and cash equivalent to be reported by the company in its December 31, 2014 balance sheet?

Financial Accounting

14th Edition

ISBN:9781305088436

Author:Carl Warren, Jim Reeve, Jonathan Duchac

Publisher:Carl Warren, Jim Reeve, Jonathan Duchac

Chapter8: Sarbanes-oxley, Internal Control, And Cash

Section: Chapter Questions

Problem 19E

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