In the course of your audit of Cash of Fatherhood Corporation as of and for the period ended December 31, 2024, the following is a list that comprise the company's Cash and cash equivalent account: Current account at Metrobank 3,250,000 Savings account at Rural Bank 2.750,000 Current account at BDO (240,000) Undeposited collections on hand 1.278,000 Traven fund 50.000 Interest and dividend fund 120.000 Payroll fund 400,000 Pension fund 250,000 Change fund 25,000 Bonking sinking fund 500,000 Petty cash fund, imprest balance 30,000 Deposit in closed bank 300.000 Postage stamps 3,000 IOU from key employee 30.000 Credit memo from a vendor for a purchase retum 60.000 Investment in treasury bills, due 3/31/25 (purchased 12/31/24) 600,000 Investment in money market placement, due 1/31/25 (purchase 1/1/24) 900.000 Investment in ordinary shares (trading securities), intended to sell by 2/28/25 400.000 Investment in ordinary shares (FVOCI securities) 300,000 Investment in redeemable preference share, due 2/28/25. (purchased 12/1/24) 300.000 Audit notes: The current account at Metrobank included the recordings of the following: 1. P75,000 check to supplier, in payment of an outstanding invoice dated December 1, 2024. The check was issued as of December 30, 2024 but were dated January 5, 2025. 2. P120,000 check to a supplier, in payment of another invoice dated December 20. The check which was dated December 30, 2024 was still on hand as of December 31, 2024 and yet to be released to the payee. 3. P180,000 check to another supplier dated December 31 and released on the same date for the payment of an invoice dated December 15. The savings account at Rural Bank included a P500,000 compensating balance related to a 5 year, 12% P5 million bank loan dated January 1, 2022. The terms of the loan called for the legal restriction on drawing from the said compensating balance at any time during the five-year term of loan. The undeposited checks, bank drafts and money order included the following items: 1. P180,000 check from a customer dated 6/1/24. 2. P125,000 check from a customer dated 1/6/25. 3. P155,000 customer check dated 11/6/24, returned on November 31 marked NSF, not yet redeposited. 4.P127.000 check from an employee dated 12/20/24. 5. P80,000 check from an office dated 12/2/24 returned by the bank marked NSF 6. P150,000 postal money order. 7. P120,000 bank drafts. . On hand by the petty cash custodian on December 31, 2024 were: 1. P7,000 worth of bills and coins. 2. P11,500 replenishment check 3. P10,000 worth of unreplenished paid petty cash vouchers. All other cash funds were accounted for as equaling cash / securities on hand. The company made an estimated that only 50% from cash in closed bank shall be recovered but the period of recovery is indefinite. Questions: For the preparation of the statement of financial position year-ended December 31, 2024, answer the following: What is the adjusted current account at Metrobank that should be presented as part of cash and cash equivalents? How much from the undeposited checks, money orders and bank drafts on hand is part of cash and cash equivalents? How much is the adjusted petty cash fund? The investments that are considered cash equivalents and shall be presented as part of cash and cash equivalent is What is the total cash and cash equivalent to be reported by the company in its December 31, 2024 balance sheet? In the course of your audit of Cash of Fatherhood Corporation as of and for the period ended December 31, 2024, the following is a list that comprise the company's Cash and cash equivalent account: Current account at Metrobank 3,250,000 Savings account at Rural Bank 2.750,000 Current account at BDO (240,000) Undeposited collections on hand 1.278,000 Traven fund 50.000 Interest and dividend fund 120.000 Payroll fund 400,000 Pension fund 250,000 Change fund 25,000 Bonking sinking fund 500,000 Petty cash fund, imprest balance 30,000 Deposit in closed bank 300.000 Postage stamps 3,000 IOU from key employee 30.000 Credit memo from a vendor for a purchase retum 60.000 Investment in treasury bills, due 3/31/25 (purchased 12/31/24) 600,000 Investment in money market placement, due 1/31/25 (purchase 1/1/24) 900.000 Investment in ordinary shares (trading securities), intended to sell by 2/28/25 400.000 Investment in ordinary shares (FVOCI securities) 300,000 Investment in redeemable preference share, due 2/28/25. (purchased 12/1/24) 300.000 Audit notes: The current account at Metrobank included the recordings of the following: 1. P75,000 check to supplier, in payment of an outstanding invoice dated December 1, 2024. The check was issued as of December 30, 2024 but were dated January 5, 2025. 2. P120,000 check to a supplier, in payment of another invoice dated December 20. The check which was dated December 30, 2024 was still on hand as of December 31, 2024 and yet to be released to the payee. 3. P180,000 check to another supplier dated December 31 and released on the same date for the payment of an invoice dated December 15. The savings account at Rural Bank included a P500,000 compensating balance related to a 5 year, 12% P5 million bank loan dated January 1, 2022. The terms of the loan called for the legal restriction on drawing from the said compensating balance at any time during the five-year term of loan. The undeposited checks, bank drafts and money order included the following items: 1. P180,000 check from a customer dated 6/1/24. 2. P125,000 check from a customer dated 1/6/25. 3. P155,000 customer check dated 11/6/24, returned on November 31 marked NSF, not yet redeposited. 4.P127.000 check from an employee dated 12/20/24. 5. P80,000 check from an office dated 12/2/24 returned by the bank marked NSF 6. P150,000 postal money order. 7. P120,000 bank drafts. . On hand by the petty cash custodian on December 31, 2024 were: 1. P7,000 worth of bills and coins. 2. P11,500 replenishment check 3. P10,000 worth of unreplenished paid petty cash vouchers. All other cash funds were accounted for as equaling cash / securities on hand. The company made an estimated that only 50% from cash in closed bank shall be recovered but the period of recovery is indefinite. Questions: For the preparation of the statement of financial position year-ended December 31, 2024, answer the following: What is the adjusted current account at Metrobank that should be presented as part of cash and cash equivalents? How much from the undeposited checks, money orders and bank drafts on hand is part of cash and cash equivalents? How much is the adjusted petty cash fund? The investments that are considered cash equivalents and shall be presented as part of cash and cash equivalent is What is the total cash and cash equivalent to be reported by the company in its December 31, 2024 balance sheet