As of December 31, 2014, 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) and Cash (legally restricted for an upcoming long t...

a 228000 108000 120000 Under IFRS preferred shares acquired clo ...

As of December 31, 2014, Bajac Inc. has the following balances: Cash in bank, $108,000; Investment in

Question:

As of December 31, 2014, Bajac Inc. has the following balances: Cash in bank, $108,000; Investment in preferred shares (retractable, purchased by Bajac within 90 days of date), $120,000; Investment in common shares (to be sold within 30 days); and Cash (legally restricted for an upcoming long-term debt retirement), $245,000.
Determine the December 31, 2014 cash and cash equivalents amount for the 2014 statement of cash flows under
(a) IFRS
(b) ASPE.
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...