Which item should be excluded from cash and cash

30. Which item should be excluded from cash and cash equivalent on the
current year-end balance sheet of an entity?
31. At December 31 of the current year, an entity had cash accounts at
three different banks. One account balance is segregated solely for payment
into a bond sinking fund. A second account, used for branch operations, is
overdrawn. The third account, used for regular corporate operations, has a
positive balance. How should these accounts be reported in the December
31 classified balance sheet?
PROBLEMS
32. San Miguel Corporation provided the following data on December 31,
2014:
Checkbook balance………………………………………………………………
P 4,000,000
Bank statement balance…………………………………………………………
5,000,000
Check drawn on San Miguel’s account, payable to supplier, dated
and recorded on December 31, 2015 but not mailed until
until January 2016………………………………………………………
500,000
Cash in sinking fund……………………………………………………………..
2,000,000

FINANCIAL ACCOUNTING 1
On December 31, 2015, what amount of cash should be reported as cash
under current assets?