what total amount should be reported as cash and cash equivalents? On December 31, 2019, Aquino Company had the following cash balances:Cash in bank - current account6,000,000Petty cash fund (all funds were reimbursed at year-end).50,000Time deposit - three months, due January 15, 20202,500,000Saving deposit1,000,000Cash in bank included P400,000 of compensating balance against short termborrowing arrangement.The compensating balanc,e is legally restricted as to withdrawal.

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Description: what total amount should be reported as cash and cash equivalents? On December 31, 2019, Aquino Company had the following cash balances:Cash in bank - current account6,000,000Petty cash fund (all funds were reimbursed at year-end).50,000Time deposit

Cash and cash equivalents is an important part of assets of the business. It means assets which are…

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what total amount should be reported as cash and cash equivalents?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable

Section: Chapter Questions

Problem 30E

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