Current Attempt in Progress

The controller for Carla Vista Co$.$ is trying to determine the amount of cash to report on the December $31,2023$ statement of financial

position. The following information is provided:

A commercial savings account with $$610,000$ and a commercial chequing account balance of $$970,000$ are held at First

National Bank. There is also a bank overdraft of $$43,000$ in a chequing account at the Royal Scotia Bank. No other accounts

are held at the Royal Scotia Bank.

$2.$

Carla Vista has agreed to maintain a cash balance of $ $99,000$ at all times in its chequing account at First National Bank to

ensure that credit is available in the future

$3$

Carla Vista has a $$6-$million investment in a Commercial Bank of Montreal money$-$market mutual fund. This fund has

chequing account privileges

There are travel advances of $$15,000$ for executive travel for the first quarter of next year. $($Employees will complete

expense reports after they travel.$)$

$5.$

$4$ separate cash fund in the amount of $$1\mathrm{.}5$ million is restricted for the retirement of long$-$term debt.

O

There is a petty cash fund of $$3,300$

$7.$

A $$2,100$ IOU from Marianne Koch, a company officer, will be withheld from her salary in January $2024.$

$8.$

There are $20$ cash floats for retail operation cash registers: $8$ at $$440$ and $12$ at $$560$

$9.$

The company has two certificates of deposit, each for $$520,000.$ These certifcates of deposit each had a maturity of $120$

days when they were acquired. One was purchased on October $15$ and the other on December $27$

$10.$

Carla Vista has received a cheque dated January $12,2024,$ in the amount of $$26,000$ from a customer owing funds at December $31.$ It has also received a cheque dated January $8,2024,$ in the amount of $$11,000$ from a customer as an advance

on an order that was placed on December $29$ and will be delivered February $1,2024.$

$11.$

Carla Vista holds $$2\mathrm{.}2$ million of commercial paper of Metlock Co$,$ which is due in $60$ days

$12.$

Currency and coin on hand amounted to $$7,600.$

$13.$

Carla Vista acquired $900$ shares of Sortel for $$3\mathrm{.}80$ per share in late November and is holding them for trading. The shares

are still on hand at year end and have a fair value of $$4\mathrm{.}20$ per share on December $31,2023$

$($a$)$ Calculate the amount of cash to be reported on Carla Vista's statement of financial position at December $31,2023.$

Cash reported on December $31,2023,$balance$$sheet

$