Halifax Corporation reported the following items on its year end date of September 30, 2021:Savings...
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Halifax Corporation reported the following items on its year end date of September 30, 2021:
Savings account at First National Bank | $ 32,123 |
Bank overdraft at First National Bank | 15,868 |
Travel advances to employees | 2,100 |
Preferred share investment acquired one month before maturity | 19,640 |
Petty cash | 350 |
Required:
Assume that Halifax Corporation follows IFRS. Calculate the amount that should be reported as cash and cash equivalents on Halifax Corporation's statement of financial position at September 30, 2021.
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