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Problem 1-15 (AICPA Adapted) Joana Company had the following account balances on December 31, 2021: Petty cash fund 50,000 Cash on hand 500,000 Cash in bank - current account 4,000,000 Cash in bank - payroll account 1,000,000 Time deposit 2,000,000 Cash in bank - restricted account for plant addition, . expected to be disbursed in early January 2022 500,000 Cash in sinking fund set aside for bond payable due June 30, 2022 1,500,000 The petty cash fund included unreplenished December 2021 petty cash expense vouchers of P5,000 and employee IOU of P5,000. The cash on hand included a P100,000 check payable to Joana Company dated January 31, 2022. What total amount should be reported as cash and cash equivalents on December 31, 2021? a. 6,940,000 b. 8,940,000 C. 7,940,000 d. 7,440,000Problem 1-16 (AICPA Adapted) On December 31, 2021 Lamentable Company had the following cash balances: Cash in bank - current account 6,000,000 Petty cash fund - all funds were reimbursed at year-end 50,000 Time deposit - three months, due January 15, 2022 2,500,000 Saving deposit 1,000,000 Cash in bank included P400,000 of compensating balance against short term borrowing arrangement. The compensating balance is legally restricted as to withdrawal. What total amount should be reported as cash and cash equivalents? a. 9,500,000 b. 9,150,000 c. 9,100,000 d. 6,950,000 Problem 1-17 (AICPA Adapted) Baloney Company had the following account balances on December 31, 2021: Cash in bank 2,250,000 Cash on hand 125,000 Cash restricted for addition to plant in January 2022 1,600,000 Cash in bank included P600,000 of compensating balance against short-term borrowing arrangement. The compensating balance is not legally restricted as to withdrawal. What total amount should be reported as cash on December 31, 2021? a. 1,775,000 b. 2,250,000 c. . 2,375,000 d. 3,975,000