HELP ME PLEASE WITH CLEAR AND DETAILED EXPLANATION

Problem 1-12 PHILCPA Adapted) Starex Company provided the following information at year-end: Checking account at Metrobank 3,000,000 Employee postdated check 120,000 Foreign bank account unrestricted and in equivalent pesos 2,500,000 IOU from company president 500,000 NSF customer check 100,000 Petty cash fund, expense receipts P40,000 50,000 Postage stamps 10,000 Treasury bills 1,200,000 Treasury bonds 500,000 Value added tax account 1,500,000 What amount should be reported as cash and cash equivalents? a. 8,710,000 b. 7,000,000 c. 8,210,000 d. 8,250,000 Problem 1-13 (AICPA Adapted) Thor Company provided the following data on December 31, 2022: Checkbook balance 4,000,000 Bank statement balance 5,000,000 Check drawn on Thor's account, payable to supplier, dated and recorded on December 31, 2022 but not mailed until January 31, 2023 500,000 Cash in sinking fund 2,000,000 On December 31, 2022, what amount should be reported as cash under current assets? a. 4,500,000 b. 5,500,000 C. 3,500,090 d. 6,500,000