Reference no: EM132691299

In connection with your audit of Big Brother Corp. for the year ended December 31, 2014, you gathered the following information:

Current account at Bank of the Philippine Islands 6,000,000

Current account at Equitable PCI Bank (300,000)

Payroll Account 1,500,000

Foreign Bank account - restricted (in USD) ** 60,000

Postage Stamps 3,000

Employee's post dated checks 12,000

IOU from a key officer 30,000

Credit menu from a vendor for a purchase return 60,000

Traveller's Check 150,000

Customer's not-sufficient-funds check 45,000

Money Orders 90,000

Petty Cash fund (P12,000 in currency and expense vouchers for P17,500) 30,000

Treasury bills, due 3/31/15 (purchased 12/31/14) 600,000

Treasury bills, due 1/31/15 (purchased 1/1/14) 900,000

Charge fund 10,000

Bond sinking fund 1,000,000

current exchange rate as of December 31, 2014 is at P50 for every USD1.

Problem 1: What is the total cash and cash equivalent to be reported by the company in its December 31, 2014 balance sheet?