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Which item should be excluded from cash and cash

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30.Which item should be excluded from cash and cash equivalent on thecurrent year-end balance sheet of an entity?
31.At December 31 of the current year, an entity had cash accounts atthree different banks. One account balance is segregated solely for paymentinto a bond sinking fund. A second account, used for branch operations, isoverdrawn. The third account, used for regular corporate operations, has apositive balance. How should these accounts be reported in the December31 classified balance sheet?
PROBLEMS32.San Miguel Corporation provided the following data on December 31,2014:Checkbookbalance………………………………………………………………P4,000,000Bank statement balance…………………………………………………………5,000,000Check drawn on San Miguel’s account, payable to supplier, datedand recorded on December 31, 2015 but not mailed untiluntilJanuary2016………………………………………………………500,000Cash in sinking fund……………………………………………………………..2,000,000
FINANCIAL ACCOUNTING 1On December 31, 2015, what amount of cash should be reported as cashunder current assets?

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