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What amount should be reported as cash and cash equivalents

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Reference no: EM132921763

Question - CPA Co. reported the following information at year-end: (a) Share investments of P2,000,000 that are very actively traded in the stock market; (b) Government treasury bills of P3,000,000 with a 10-year term but purchased on December 31 at which they had four months to go until maturity. (c) Cash of P4,000,000 in a form coin, currency, savings account and checking account; (d) Commercial papers of P2,000,000 with term of nine months but purchased on December 31 at which time they had three months to go until maturity. What amount should be reported as cash and cash equivalents?

Reference no: EM132921763

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