Reference no: EM133182822

Question - Cash - The following pertains to Clark Corporation on December 31, 2021:

Postage stamps	P500
Credit memo from a vendor for a purchase return	10,000
Current account at BPI	(50,000)
Current account at Metro Bank	1,000,000
Employees postdated check	2,000
Foreign bank account-restricted (in equivalent pesos)	500,000
IOU from controller's sister	5,000
Listed stock held as temporary investment	7,500
Payroll account	250,000
Petty cash fund (P2,000 in currency and expense receipts for P3,000)	5,000
Postal money order	15,000
Traveler's check	25,000
Treasury Bills, due 1/31/2022 (purchased 01/31/2021)	150,000
Treasury bills, due 3/31/2022 (purchased 12/31/2021)	100,000
Treasury warrant	150,000

Additional information:

1. Check of P100,000 drawn against Metrobank account in payment of accounts payable was recorded on December 31, 2021 but mailed to suppliers on January 5, 2022.

2. Check of P50,000 drawn against Metrobank account dated January 15, 202 in payment of accounts payable was recorded and mailed on December 31, 2021.

3. Check of P25,000 drawn against Metrobank account dated January 15, 2021 in payment of accounts payable was recorded and mailed on January 15, 2021. As of the reporting period, the same has not been encashed by the payee and still outstanding.

Required - Compute the amount of cash and cash equivalents should the company report on the December 31, 2021 statement of financial position?