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

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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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 account
6,000,000
Petty cash fund (all funds were reimbursed at year-end).
50,000
Time deposit - three months, due January 15, 2020
2,500,000
Saving deposit
1,000,000
Cash in bank included P400,000 of compensating balance against short term
borrowing arrangement.
The compensating balanc,e is legally restricted as to withdrawal.
Transcribed Image Text:On December 31, 2019, Aquino Company had the following cash balances: Cash in bank - current account 6,000,000 Petty cash fund (all funds were reimbursed at year-end). 50,000 Time deposit - three months, due January 15, 2020 2,500,000 Saving deposit 1,000,000 Cash in bank included P400,000 of compensating balance against short term borrowing arrangement. The compensating balanc,e is legally restricted as to withdrawal.
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