Q2/

A first-year co-op student is trying to determine the amount of cash and cash equivalents that should be reported on a companys statement of financial position. The following information was provided to the student at year end:

1.		Cash on hand in the cash registers totals $3,160.
2.		The balance in the commercial bank savings account is $53,600 and in the commercial bank chequing account, $22,000. The company also has a U.S. bank account, which contains the equivalent of $30,000 Canadian at year end.
3.		A special bank account holds $220,000 in cash that is restricted for equipment replacement.
4.		Amounts due from employees (travel advances) total $9,500.
5.		Held-for-trading investments held by the company include:
(i)		$24,000 in a term deposit maturing in 120 days.
(ii)		A Government of Canada bond for $53,000 that falls due in 30 days.
(iii)		$34,000 in shares of Loblaw Companies Limited.
6.		The company has $1,130 of NSF cheques from customers that were returned by the bank. NSF fees charged by the bank for processing these cheques totalled $57.
7.		The company keeps $11,000 as a compensating balance with respect to a long-term loan in a special account.

Determine which items listed above would be considered to be cash and which would be considered to be cash equivalents. (Choose Not Applicable if there is no answer for space provided. Do not leave any field blank.)

Items No.
1.		select a type of cash Restricted CashCash EquivalentsCashNot Applicable
2.		select a type of cash CashCash EquivalentsNot ApplicableRestricted Cash
3.		select a type of cash CashCash EquivalentsNot ApplicableRestricted Cash
4.		select a type of cash CashRestricted CashNot ApplicableCash Equivalents
5.(i)		select a type of cash CashCash EquivalentsRestricted CashNot Applicable
5.(ii)		select a type of cash CashNot ApplicableCash EquivalentsRestricted Cash
5.(iii)		select a type of cash Cash EquivalentsCashRestricted CashNot Applicable
6.		select a type of cash Not ApplicableCashRestricted CashCash Equivalents
7.

What combined amount would the company report as cash and cash equivalents on the year-end statement of financial position?

Cash and cash equivalents

dentify where any items that were not reported as cash and cash equivalents above should be reported. (Do not leave any field blank. For items which are included in (a) put Not Applicable.)

ItemsNo.
1.		select where the item should be reported Not ApplicableAccounts ReceivableCurrent AssetsNon-Current AssetsCurrent Assets or Non-Current Assets
2.		select where the item should be reported Non-Current AssetsCurrent AssetsCurrent Assets or Non-Current AssetsAccounts ReceivableNot Applicable
3.		select where the item should be reported Current Assets or Non-Current AssetsAccounts ReceivableNot ApplicableCurrent AssetsNon-Current Assets
4.		select where the item should be reported Not ApplicableCurrent AssetsAccounts ReceivableNon-Current AssetsCurrent Assets or Non-Current Assets
5.(i)		select where the item should be reported Current AssetsNot ApplicableAccounts ReceivableCurrent Assets or Non-Current AssetsNon-Current Assets
5.(ii)		select where the item should be reported Current AssetsNot ApplicableAccounts ReceivableCurrent Assets or Non-Current AssetsNon-Current Assets
5.(iii)		select where the item should be reported Non-Current AssetsCurrent AssetsAccounts ReceivableNot ApplicableCurrent Assets or Non-Current Assets
6.		select where the item should be reported Current Assets or Non-Current AssetsAccounts ReceivableNot ApplicableNon-Current AssetsCurrent Assets
7.		select where the item should be reported