Solution-What amount should be reported as cash and cash

What amount should be reported as cash and cash equivalents

Reference no: EM133096387

Question - Marin Inc. owns the following assets at December 31, 2020:

Cash in bank savings account	$48,300	Chequing account balance	$31,000
Cash on hand	14,500	Postdated cheque from Cullumber Company	460
Refund due (overpayment of income taxes)	30,000	Cash in a foreign bank (CAD equivalent)	90,000
Preferred shares acquired shortly before their fixed maturity date	15,400	Short-term paper with a maturity date of three months from the date acquired	11,800

Required -

(a1) If Marin follows ASPE and follows a policy of including all possible items in cash and cash equivalent, what amount should be reported as cash and cash equivalents?

(a2) If Marin follows IFRS what amount should be reported as cash and cash equivalents?

Reference no: EM133096387

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What amount should be reported as cash and cash equivalents : If Marin follows ASPE and follows a policy of including all possible items in cash and cash equivalent, what amount should be reported as cash

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What amount should be reported as cash and cash equivalents

Reference no: EM133096387

Reference no: EM133096387

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