Kindly help me answer requirements 1 and most especially the requirement 2 in the attached picture. Thank youu
Extracted text: THE NEXT ITEM(S) IS/ARE BASED ON THE FOLLOWING In connection with your audit of BIG BROTHER CORP. for the year ended December 31, 2014, you gathered the following information: Current account at Bank of the Philippine Iklands Current account at Equitable PCI Bank Payroll account Foreign bank account - restricted (in USD)** Postage stamps Employee's post dated check IOU from a key officer Credit memo from a vendor for a purchase returm Traveler's check Customer's not-sufficient-funds check P6,000,000 (300,000) 1,500,000 60,000 3,000 12,000 30,000 60,000 150,000 45,000 90,000 Money orders Petty cash fund (PI2,000 in currency and expense vouchers for PI8,000) Treasury bills, due 3/31/15 (purchased 12/31/14) Treasury bills, due 1/31/15 (purchased 1/1/14) Change fund Bond sinking fund 30,000 600,000 900,000 10,000 1,000,000 **current exchange rate as of December 31, 2014 is at P50 for every USDI. Requirements: 1. What is the total cash and cash equivalent to be reported by the company in its December 31, 2014 balance sheet? 2. How much from the list above should be presented as part of Noncurrent assets? THE NEXT ITEM(S) IS'ARE BASED ON THE FOLLOWING You were assigned to audit the financial statement of Home Corp. on January 10, 2015, for the year ended December 31, 2014. BANK RECONCILIATION The cashier prepared the bank reconciliation statement as of December 31, 2014, which included the following information: Bank loan proceeds credited by the bank in December, recorded in the books in January 3. Bank service charge for December, recorded in books in January 3. Outstanding checks, P34,550 of which has been certified by the hank. Check of Holmes Inc., charged by the bank in error on December 28, 2014; comected by the bank on January 2, 2015 as per the cut-off bank statement. Deposit in transit. 200,000 10,000 - 186,500 .4,500 .21,000