As at December 31, 2023, Bajac Inc. has the following balances: cash in bank, $108,000; investment in
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As at December 31, 2023, Bajac Inc. has the following balances: cash in bank, $108,000; investment in preferred shares (retractable, purchased by Bajac within 90 days of maturity date), $120,000; investment in common shares (to be sold within 30 days), $90,000; and cash (legally restricted for an upcoming long-term debt retirement), $245,000. Determine the December 31, 2023 cash and cash equivalents amount for the 2023 statement of cash flows under
(a) IFRS
(b) ASPE.
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Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119740445
13th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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