A new accountant at La Maison Lte is trying to identify which of the following amounts should

A new accountant at La Maison Ltée is trying to identify which of the following amounts should be reported as cash and cash equivalents in the April 30 year-end statement of financial position:

1. Currency and coin totalling $87 in a locked box used for incidental cash transactions

2. A $10,000 government treasury bill, due the next month, May 31

3. April-dated cheques worth $300 that La Maison has received from customers but not yet deposited

4. An $85 cheque received from a customer in payment of its April account, but postdated to May 1

5. A balance of $2,575 in the Royal Bank chequing account

6. A balance of $4,000 in the Royal Bank savings account

7. Prepaid postage of $75 in the postage meter

8. A $50 IOU from the company receptionist

9. Cash register fl oats of $250

10. Over-the-counter receipts for April 30 consisting of $550 of currency and coin, $185 of cheques from customers, $685 of debit card slips, and $755 of bank credit card slips. These amounts were processed by the bank on May 1.

Instructions

(a) What amount should La Maison consider to be cash at April 30? What should it consider to be a cash equivalent?

(b) What combined amount would La Maison report as cash and cash equivalents on its year-end statement of financial position?

(c) In which financial statement(s) and in what account(s) should the items not included in (a) be reported?