Reference no: EM132630874
Cash and Cash equivalents
Cash balance
The books of Caring Co. show the following balances at December 31, 2019:
Cash on hand ? 400,000
Cash in Bank - current account 1,200,000
Cash in Bank - peso savings deposit 5,000,000
Cash in Bank - dollar deposit (unrestricted) $ 100,000
Cash in Bank - dollar deposit (restricted) 250,000
Cash in 3-month money-market account ? 500,000
3-month unrestricted time deposit $ 20,000
Treasury bill, purchased 11/1/2019, maturing 2/14/2020 ?1,600,000
Treasury bond, purchased 3/1/2019, maturing 2/28/2020 1,000,000
Treasury note, purchased 12/1/2019, maturing 2/28/2020 400,000
Unused Credit Line 4,000,000
Redeemable preference shares, purchased 12/1/2019,
due on 3/1/2020 740,000
Treasury shares, purchased 12/1/2019, to be reissued on
1/5/2020 200,000
Sinking fund 400,000
Additional information:
- Cash on hand includes a ?40,000 check payable to Caring Co. dated December 29, 2019.
- During December 2018, check amounting to ?30,000 was drawn against the Cash in bank - current account in payment of accounts payable. The check remains outstanding as of December 31, 2019.
- The Cash in Bank - peso savings deposit includes ?800,000 security bond on a pending labor litigation, in favor of a previous employee. The establishment of the bond is mandated by a court of law.
- The Cash in Bank - peso savings deposit also includes a compensating balance amounting to ?500,000 which is not legally restricted.
- The Cash in Bank - dollar deposit (unrestricted) account includes interest of $4,000, net of tax, directly credited to Caring Co.'s account. The exchange rate at year-end is $1 is to ?45.
REQUIRED:
Problem 1. The total amount of Cash to be reported in the 2019 financial statements.
Problem 2. The total amount of Cash Equivalent to be reported in the 2019 financial statements.
Problem 3. The total amount of Current Assets aside from Cash and Cash Equivalent to be reported in the 2019 financial statements?
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