Question: Cash Flow StatementHopper company is preparing its Cash Flow Statement. The accountant preparing the statement is presented with the following information: Bank Account A $35,000

Cash Flow StatementHopper company is preparing its Cash Flow Statement. The accountant preparing the statement is presented with the following information:

Bank Account A

$35,000

Bank Account B

$16,500

Bank Account C

$(1,200)

Requirement:What amount should appear as cash and cash equivalents in the cash flow statement? Provide specific Codification references.

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2. Find out if there are other reference points that can be used as reasonable alternatives.

1. Identify your reference point when making a decision based on an element of risk.

3. If there are reasonable alternatives, think about your decisions based on the different reference points and see if there are any contradictions in the decisions.