cash and cash equivalents topic

Problem Solving EXERCISE 2-1 As of December 31, 2020, Grimmie Company's general ledger reported a total cash balance of P695,000. Breakdown of the amount is as follows: Currencies and coins awaiting deposit Checking account balance NSF Check returned by the bank Undeposited receipts, including a postdated check of P35,000 Savings account balance 10Us signed by personnel What amount should be reported as "cash" on Grimmie's Statement of Financial Position as of December 31, 2020? P 45.000 185,000 40.000 T 160,000 250,000 15,000 EXERCISE 2-2 Hatch Company shows the following account balances in its financial records as DADE of December 31, 2020: Cashier's check IOU from the president's sister P 46,000 Bank draft 65,000 Traveler's check 40,000 Undeposited checks (includes a P100,000 check not accepted by the 40,000 bank due to lack of countersignature) Money order 220,000 Petty cash fund (bills and coins of P4,000) 50,000 Checking account - Unibank 12,000 Checking account - Tribank 450,000 Savings account - Unibank Postage stamps 325,000 What is the cash balance to be reported on the statement of financial position? 6,500 Star (85,000)