Refer to the annual report for Canadian Tire Corporation for the fiscal year ended December 31, 2013, in Appendix D. Required: a. How much did the company have in cash and cash equivalents at the end of 2013? What is peculiar about this amount in the context of IFRS requirements? b. How much, if any, did the company record as

Chapter 5, Problems #45

Refer to the annual report for Canadian Tire Corporation for the fiscal year ended December 31, 2013, in Appendix D.

Required:
a. How much did the company have in cash and cash equivalents at the end of 2013? What is peculiar about this amount in the context of IFRS requirements?
b. How much, if any, did the company record as the allowance for doubtful accounts, denoted as “allowance for credit losses,” at the end of 2013 for all of its receivables (trade receivables, loan receivables, and other receivables)?
c. How much in loans receivable did the company have at the end of 2013? Of that amount, how much is expected to be collected by December 31, 2014? Does the portion that is current seem reasonable given the types of loans involved?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...