Indicate whether each of the following statements is true or false.
1. A company has the following assets at the end of the year: cash on hand $40,000, cash refund due from customer $30,000, and checking account balance $22,000. Cash and cash equivalents is therefore $62,000.
2. A company that has received NSF checks should report these checks as a current liability on the balance sheet.
3. Restricted cash that is a current asset is reported as part of cash and cash equivalents.
4. A company has cash in the bank of $50,000, petty cash of $400, and stock investments of $100,000. Total cash and cash equivalents is therefore $50,400.