Metropolis Industries invested its excess cash in the following instruments during December 2010: Certificate of deposit, due

Question:

Metropolis Industries invested its excess cash in the following instruments during December 2010:
Certificate of deposit, due January 31, 2011 $ 35,000
Certificate of deposit, due June 30, 2011 95,000
Investment in City of Elgin bonds, due May 1, 2012 15,000
Investment in Quantum Data stock 66,000
Money market fund 105,000
90-day Treasury bills 75,000
Treasury note, due December 1, 2011 200,000
Required
Determine the amount of cash equivalents that should be combined with cash on the company’s at December 31, 2010, and for purposes of preparing a statement of cash flows for the year ended December 31, 2010.

Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...