Reference no: EM132588677
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
Question a) Determine how much should be included in cash and cash equivalent.
Question b) Determine how much should be included in current assets - investments.
Question c) Determine how much should be included as non-current investments.
Question 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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