In connection with your audit of Brilliance Corporation for the year ended December 31, 2022, you gathered the following information: Current account at Bank of the Philippine Island Current account at Equitable PCI Bank Payroll account Foreign bank account – restricted (in USD)** Postage stamps Employee's postdated check IOU from a key officer Credit memo from a vendor for a purchase return 6,000,000 (300,000) 1,500,000 60,000 3,000 12,000 30,000 60,000 150,000 45,000 90,000 30,000 600,000 900,000 10,000 1,000,000 Traveler's check Customer's not-sufficient-fund check Money orders Petty cash fund (P12,000 currency and expense vouchers for P18,000) Treasury bills, due 3/31/23 (purchased 12/31/22) Treasury bills, due 3/31/23 (purchased 1/1/22) Change fund Bond sinking fund * current exchange rate as of December 31, 2022 is at P50 for every USD.
In connection with your audit of Brilliance Corporation for the year ended December 31, 2022, you gathered the following information: Current account at Bank of the Philippine Island Current account at Equitable PCI Bank Payroll account Foreign bank account – restricted (in USD)** Postage stamps Employee's postdated check IOU from a key officer Credit memo from a vendor for a purchase return 6,000,000 (300,000) 1,500,000 60,000 3,000 12,000 30,000 60,000 150,000 45,000 90,000 30,000 600,000 900,000 10,000 1,000,000 Traveler's check Customer's not-sufficient-fund check Money orders Petty cash fund (P12,000 currency and expense vouchers for P18,000) Treasury bills, due 3/31/23 (purchased 12/31/22) Treasury bills, due 3/31/23 (purchased 1/1/22) Change fund Bond sinking fund * current exchange rate as of December 31, 2022 is at P50 for every USD.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
How much is the amount of Cash and Cash Equivalents to be presented in the
How much from the list above should be presented as part of noncurrent assets
Transcribed Image Text:In connection with your audit of Brilliance Corporation for the year ended December 31, 2022, you gathered the following
information:
Current account at Bank of the Philippine Island
Current account at Equitable PCI Bank
Payroll account
Foreign bank account – restricted (in USD)**
Postage stamps
Employee's postdated check
IOU from a key officer
Credit memo from a vendor for a purchase return
6,000,000
(300,000)
1,500,000
60,000
3,000
12,000
30,000
60,000
Traveler's check
150,000
Customer's not-sufficient-fund check
45,000
Money orders
Petty cash fund (P12,000 currency and expense vouchers for P18,000)
Treasury bills, due 3/31/23 (purchased 12/31/22)
Treasury bills, due 3/31/23 (purchased 1/1/22)
Change fund
Bond sinking fund
** current exchange rate as of December 31, 2022 is at P50 for every USD.
90,000
30,000
600,000
900,000
10,000
1,000,000
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