In connection with your audit of Caloocan Corporation for the year ended December 31, 2006, you...

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In connection with your audit of Caloocan Corporation for the year ended December 31, 2006, you gathered the following: 1. Current account at Metrobank 2. Current account at BPI 3. 4. 5. 6. 7. 8. 9. 10. Not-sufficient-funds check 11. Money order 12. Petty cash fund (P4,000 in currency and expense receipts for P6,000) Payroll account Foreign bank account - restricted (in equivalent pesos) Postage stamps Employee's post dated check IOU from controller's sister Credit memo from a vendor for a purchase return Traveler's check 13. Treasury bills, due 3/31/07 (purchased 12/31/06) 14. Treasury bills, due 1/31/07 (purchased 1/1/06) P2,000,000 (100,000) 500,000 1,000,000 1,000 4,000 10,000 20,000 50,000 15,000 30,000 10,000 200,000 300,000 Question: Based on the above information and the result of your audit, compute for the cash and cash equivalent that would be reported on the December 31, 2006 balance sheet. In connection with your audit of Caloocan Corporation for the year ended December 31, 2006, you gathered the following: 1. Current account at Metrobank 2. Current account at BPI 3. 4. 5. 6. 7. 8. 9. 10. Not-sufficient-funds check 11. Money order 12. Petty cash fund (P4,000 in currency and expense receipts for P6,000) Payroll account Foreign bank account - restricted (in equivalent pesos) Postage stamps Employee's post dated check IOU from controller's sister Credit memo from a vendor for a purchase return Traveler's check 13. Treasury bills, due 3/31/07 (purchased 12/31/06) 14. Treasury bills, due 1/31/07 (purchased 1/1/06) P2,000,000 (100,000) 500,000 1,000,000 1,000 4,000 10,000 20,000 50,000 15,000 30,000 10,000 200,000 300,000 Question: Based on the above information and the result of your audit, compute for the cash and cash equivalent that would be reported on the December 31, 2006 balance sheet.

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