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How much is the total amount of cash

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Reference no: EM132906898

Problem - Onshort December 31, 2018 Delectable Company had the following cash balances:

Demand deposit account 5,000,000

Petty cash fund (all funds wer4e reimbursed at year end) 50,000

Time deposit - three months due January 15, 2019 2,000,000

Savings deposit 1,000,000

The demand deposit includes P200,000 of compensating balance arising from long term borrowing arrangement. The compensating balance is not legally restricted as to withdrawal.

Required - How much is the total amount of cash and cash equivalents tok be reported as at December 31, 2018?

Reference no: EM132906898

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