Question

In: Accounting

As at December 31, 2020, Riverbed Inc. has the following balances: Cash in bank, $102,000; Investment...

As at December 31, 2020, Riverbed Inc. has the following balances: Cash in bank, $102,000; Investment in preferred shares (retractable, purchased by Riverbed within 90 days of maturity date), $114,000; Investment in common shares (to be sold within 30 days), $90,000; and Cash (legally restricted for an upcoming long-term debt retirement), $233,000.

1.Determine the December 31, 2020 cash and cash equivalents amount for the 2020 statement of cash flows under IFRS.

Cash and Cash Equivalents $_______

2.Determine the December 31, 2020 cash and cash equivalents amount for the 2020 statement of cash flows under ASPE.

Cash and Cash Equivalents $_______

Solutions

Expert Solution


Related Solutions

On December 31, 2020 Riverbed Company had the following account balances: Notes Receivable $269,500 Interest Receivable...
On December 31, 2020 Riverbed Company had the following account balances: Notes Receivable $269,500 Interest Receivable 4,125 Detail of the Notes Receivable is as follows: Note 1 - 6-month 9% note dated 10/31/20 55,000 Note 2 - 2-year non-interest bearing note dated 1/1/20 82,500 Note 3 - 5-month interest bearing note dated 9/30/20 132,000 What is the interest rate on Note 3 (5-month interest bearing note)? Interest rate on Note 3 Type your answer here %
The books of Shamrock Corporation carried the following account balances as of December 31, 2020. Cash...
The books of Shamrock Corporation carried the following account balances as of December 31, 2020. Cash $ 175,000 Preferred Stock (6% cumulative, nonparticipating, $50 par) 296,000 Common Stock (no-par value, 285,000 shares issued) 1,425,000 Paid-in Capital in Excess of Par—Preferred Stock 165,000 Treasury Stock (common 2,600 shares at cost) 30,600 Retained Earnings 107,700 The company decided not to pay any dividends in 2020. The board of directors, at their annual meeting on December 21, 2021, declared the following: “The current...
East Company has the following ledger accounts and adjusted balances as of December 31, 2020. All...
East Company has the following ledger accounts and adjusted balances as of December 31, 2020. All accounts have normal balances. East’s income tax rate is 20%. East has 300,000 shares of $10 par Common Stock authorized and 85,000 shares of Common Stock outstanding.          Accounts Payable…………………………….   87,750          Accounts Receivable………………………… 707,100          Accumulated Depreciation-Building………… 168,750          Accumulated Depreciation-Equipment………. 140,000          Administrative Expenses…………………….   150,000          Allowance for Doubtful Accounts……………   67,500          Bonds Payable……………………………….. 600,000          Building……………………………………..1,687,500          Cash…………………………………………. 97,750         ...
Prepare a bank reconciliation dated December 31, 2020, for Nittany Inc. based on the following information....
Prepare a bank reconciliation dated December 31, 2020, for Nittany Inc. based on the following information. ∙           Balance per bank statement is $1,000. ∙           Balance per books is $900. ∙           The December bank statement indicated a service charge of $30. ∙           Cheque #1169 for $400 made out to a supplier was mailed, but not yet received by the bank. . Cheque #1183 for $270 to a supplier was incorrectly posted by Nittany as $720 in the books. ∙           The bank...
5a) If MSG Corporation issued $102,000 of 3-year, 7% bonds outstanding on December 31, 2020 for...
5a) If MSG Corporation issued $102,000 of 3-year, 7% bonds outstanding on December 31, 2020 for $106,000. The bonds pay interest annually and MSG uses straight-line amortization. On May 1, 2021, $10,200 of the bonds were retired at 120. As a result of the retirement, MSG will report: (Do not round intermediate calculations and round final answer to nearest whole dollar.) Multiple Choice a $1,640 loss. a $1,684 loss. a $3,280 loss. a $3,280 gain. 5b) But then on January...
The accounts balances of ZZ Corp. at December 31 appear below: Debits 2020 2019 Cash $...
The accounts balances of ZZ Corp. at December 31 appear below: Debits 2020 2019 Cash $ 40,000 $ 30,000 Accounts receivable 40,000 30,000 Merchandise inventory 122,000 126,000 Prepaid expenses 4,000 6,000 Land 10,000 30,000 Buildings 220,000 160,000 Equipment 123,000 80,000 $ 559,000 $ 462,000 Credits Accounts payable $ 48,000 $ 50,000 Accumulated depr 86,000 72,000 Note payable, due 2023 70,000 55,000 Common shares 300,000 250,000 Retained earnings 55,000 35,000 $ 559,000 $ 462,000 The following Additional Information is available: Net...
Cullumber Corporation had 102,000 common shares outstanding on December 31, 2019. During 2020, the company issued...
Cullumber Corporation had 102,000 common shares outstanding on December 31, 2019. During 2020, the company issued 12,000 shares on March 1, retired 6,800 shares on July 1, issued a 20% stock dividend on October 1, and issued 18,300 shares on December 1. For 2020, the company reported net income of $408,000 after a loss from discontinued operations of $64,000 (net of tax). The company issued a 2-for-1 stock split on February 1, 2021, and the company’s financial statements for the...
Mercy Hospital has the following balances on December 31, 2021
Mercy Hospital has the following balances on December 31, 2021, before any adjustment Accounts Receivable = $70,000, Allowance for Uncollectible Accounts - $1,400 (credin Mercy estimates uncollectible accounts based on an aging of accounts receivable as shown belowRequired: 1. Estimate the amount of uncollectible receivables. 2. Record the adjusting entry for uncollectible accounts on December 31, 2021. (if no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.)3. Calculate net accounts receivable. 
On December 31, 2020, Green Bank enters into a debt restructuring agreement with Kingbird Inc., which...
On December 31, 2020, Green Bank enters into a debt restructuring agreement with Kingbird Inc., which is now experiencing financial trouble. The bank agrees to restructure a $1.1-million, 12% note receivable issued at par by the following modifications: 1.Reducing the principal obligation from $1.1 million to $0.88 million 2.Extending the maturity date from December 31, 2020, to December 31, 2023 3.Reducing the interest rate from 12% to 10% Kingbird pays interest at the end of each year. On January 1,...
The stockholders’ equity accounts of Carla Company have the following balances on December 31, 2020. Common...
The stockholders’ equity accounts of Carla Company have the following balances on December 31, 2020. Common stock, $10 par, 326,000 shares issued and outstanding $3,260,000 Paid-in capital in excess of par—common stock 1,110,000 Retained earnings 5,930,000 Shares of Carla Company stock are currently selling on the Midwest Stock Exchange at $36. Prepare the appropriate journal entries for each of the following cases. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT