Solution-Determine the december cash equivalents amount

Determine the december cash equivalents amount

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Reference no: EM132561946

As at December 31, 2018, Vermont Maple Inc. has the following balances:

Cash in bank= $108,000

Investment in preferred shares (retractable, purchased by Vermont Maple within 90 days of maturity date)= 120,000

Investment in common shares (to be sold within 30 days)= 90,000

Cash (legally restricted for an upcoming long-term debt retirement)= 245,000

Required:

Question 1: Determine the December 31, 2018 cash and cash equivalents amount for the 2018 statement of cash flows under

1) IFRS

2) ASPE

Reference no: EM132561946

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Determine the december cash equivalents amount

Reference no: EM132561946

Reference no: EM132561946

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