Identify- whether each of the following items should be classified in “cash and cash equivalents” or some other category in the balance sheet. Assume that the reporting entity has operations in Canada.
a. Negative balance in a chequing account (i.e., an overdraft).
b. Investment in Treasury bills maturing 60 days after the year-end.
c. 100 ounces of gold which is currently priced at S1,15 0/oz.
d. Chequing account in U.S. dollars.
e. Investment in U.S. government Treasury bills maturing 60 days after the year-end.