Question
As at December 31, 2018, Vermont Maple Inc. has the following balances: Cash in bank $108,000 Investment in preferred shares (retractable, purchased by Vermont Maple
As at December 31, 2018, Vermont Maple Inc. has the following balances:
| Cash in bank | $108,000 |
| Investment in preferred shares (retractable, purchased by Vermont Maple within 90 days of maturity date) | 120,000 |
| Investment in common shares (to be sold within 30 days) | 90,000 |
| Cash (legally restricted for an upcoming long-term debt retirement) | 245,000 |
|
|
|
Required:
1. Determine the December 31, 2018 cash and cash equivalents amount for the 2018 statement of cash flows under
a. IFRS
b. ASPE
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Auditing Electronics Data Processing Systems
Authors: WATNE
1st Edition
0130516163, 978-0130516169
