1. Plaridel Publishing Company had the following trial balances at December 31, 2011: Cash in Citi 3,500,000 Cash on hand 250,000 Treasury Bills 500,000 Special Time Deposits 500,000 Cash in bank includes P500,000 of compensating balance against short-term borrowing arrangement which is not legally restricted as to withdrawal by the company. Also, the special deposits account pertains to cash legally restricted for machinery upgrades that is expected to be disbursed in 2012. In the current assets section of Company's December 31, 2011 balance sheet, the total cash and cash equivalents should be

Group of answer choices

4,250,000

3,750,000

4,750,000

3,250,000

2. Bayani Corp has the following information relating to cash at December 31, 2011: Bank statement balance 2,500,000 Checkbook balance 2,600,000 Deposits in transit 700,000 Outstanding checks 200,000 Bayani's December 31, 2011 Balance Sheet should report cash as:

Group of answer choices

A. 3,100,000

B. 3,000,000

C. 3,400,000

D. 3,500,000