AA Company had the following items in its "Cash equivalents" account as of December Money market fund due in 3 months acquired 1 month ago 250,000 Investment in equity designated in OCI-expected to disposed in 3 months 500,000 Time deposit - 2 months maturity, acquired on 12/1/2022 600,000 Treasury bills- due in 3 months from date of acquisition (12/30/2022) 350,000 Redeemable preference shares- purchased on 11/30/2022 due on 3/31/2023 300,000 What is the correct balance of cash and cash equivalents as of December 31, 2022?
AA Company had the following items in its "Cash equivalents" account as of December Money market fund due in 3 months acquired 1 month ago 250,000 Investment in equity designated in OCI-expected to disposed in 3 months 500,000 Time deposit - 2 months maturity, acquired on 12/1/2022 600,000 Treasury bills- due in 3 months from date of acquisition (12/30/2022) 350,000 Redeemable preference shares- purchased on 11/30/2022 due on 3/31/2023 300,000 What is the correct balance of cash and cash equivalents as of December 31, 2022?
Managerial Accounting: The Cornerstone of Business Decision-Making
7th Edition
ISBN:9781337115773
Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Chapter14: Statement Of Cash Flows
Section: Chapter Questions
Problem 37E: During 20X1, Craig Company had the following transactions: a. Purchased 300,000 of 10-year bonds...
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AA Company had the following items in its "Cash equivalents" account as of December
Money market fund due in 3 months acquired 1 month ago
250,000
Investment in equity designated in OCI-expected to disposed in 3 months
500,000
Time deposit - 2 months maturity, acquired on 12/1/2022
600,000
Treasury bills- due in 3 months from date of acquisition (12/30/2022)
350,000
Redeemable preference shares - purchased on 11/30/2022 due on 3/31/2023
300,000
What is the correct balance of cash and cash equivalents as of December 31, 2022?
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