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The following accounts appear on the adjusted trial balance of Hanofi Company on December 31, 2019: Petty cash fund 10,000 Payroll fund 100,000 Sinking fund
The following accounts appear on the adjusted trial balance of Hanofi Company on December 31, 2019: Petty cash fund 10,000 Payroll fund 100,000 Sinking fund cash 500,000 Sinking fund securities 1,000,000 Investment in bonds 3,000,000 Accrued interest receivable-trading securities 50,000 Plant expansion fund 700,000 Cash surrender value of life insurance 80,000 Investment property-land 2,000,000 Advances to subsidiary 200,000 Interest in joint venture 800,000 Trading securities -ALI 40,000 Financial Assets -FVOCI 130,000 a) Determine how much should be included in cash and cash equivalent. b) Determine how much should be included in current assets investments. c) Determine how much should be included as non-current investments. d) If not part of the above classifications, determine the treatment of the accounts in the financial statements. Example Interest Receivables- P20,000 - Receivables under current asset
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