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What total amount should be reported as cash equivalents

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Question 1: Everlast Company reported the following information as of the end of the current year: (1) Investment securities of P1,000,000. These securities are share investments in entities that are traded in the Philippine Stock Exchange. As a result, the shares are very actively traded in the market; (2) Investment securities of P2,000,000. These securities are government treasury bills. The treasury bills have a 10-year term and purchased on December 31 at which time they had two months to go until they mature; (3) Cash of P3,400,000 in the form of coin, currency, saving account and checking account; and (4) Investment securities of P1,500,000. These securities are commercial papers. The term of the papers is nine months and they were purchased on December 31 at which time they had three months to go until they mature. What total amount should be reported as cash and cash equivalents at the end of current year?

a. P5,400,000

b. P6,400,000

c. P6,900,000

d. P7,900,000

Reference no: EM133008301

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