Cash Equivalents Pueblo Industries invested its excess cash in the following instruments during December 2016: Certificate...
Cash Equivalents Pueblo Industries invested its excess cash in the following instruments during December 2016:
Certificate of deposit, due January 31, 2017 $49,000
Certificate of deposit, due June 30, 2017 95,000
Investment in City of Elm bonds, due May 1, 2018 15,000
Investment in Quantum Data stock 66,000
Money market fund 105,000
90-day Treasury bills 91,500
Treasury note, due December 1, 2017 200,000
Required: Determine the amount of cash equivalents that should be combined with cash on the company's balance sheet at December 31, 2016, and for purposes of preparing a statement of cash flows for the year ended December 31, 2016. $
Feedback: Accounting standards require certain items be recognized as being equivalent to cash and are combined with cash on the balance sheet and the statement of cash flows
Homework Answers
Cash Equivalents Amount :-
| Particulars | Amount($) |
| Certificate of deposit, due January 31, 2017 | 49000 |
| Money Market Fund | 105000 |
| 90 Day Treasury Bills | 91500 |
| Cash Equivalents at Dec. 31, 2016 | 245500 |
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