Reference no: EM132947859
Question - On December 31, 2019, the cash and cash equivalent of SACRIZ Company had a balance of P5,000,000. An analysis shows the following details:
CURRENCY AND COICS 200,000
TIME DEPOSIT IN HSBC 500,000
CASH IN BANK- CITIBANK CHECKING ACCOUNT 2,000,000
CASH IN BANK UNION BANK (OVERDRAFT) (50,000)
UNDEPOSITED MONEY ORDERS 700,000
UNDEPOSITED CHECK FROM A CUSTOMER DATED JAN 31 2020 50,000
CASH IN BANK- SECURITY BANK (FUND FOR EXPANDED WITHOLDING TAX) 200,000
SINKING FUND CASH 400,000
GOVERNMENT TREASURY NOTES 250,000
MONEY MARKET PLACEMENTS 750,000
TOTAL 5,000,000
Required - What is correct amount of cash and cash equivalent to be reported by SACRIZ Company in its December 31, 2019 statement of financial position?