Determine the amount of cash equivalents that should be combined with cash on the company’s balance sheet at December 31, 2017, and for purposes of preparing a statement of cash flows for the year ended December 31, 2017.

Metropolis Industries invested its excess cash in the following instruments during December 2017: Certificate of deposit, due January 31, 2018 …………………………..$ 35,000 Certificate of deposit, due June 30, 2018 ………………………………..95,000 Investment in City of Elm bonds, due May 1, 2019 …………………….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, 2018 ………………………………….200,000 Required Determine the amount of cash equivalents that should be combined with cash on the company’s balance sheet at December 31, 2017, and for purposes of preparing a statement of cash flows for the year ended December 31, 2017. View Solution:
Metropolis Industries invested its excess cash in the following instruments

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