7 Diamond Company has the following items at year end: Cash in bank.............................................................$42,000 Petty cash......................................................................1,500 Short-term paper with maturity of 2 months...........6,500 Postdated cheques...................................................... 3,400 Diamond should report cash and cash equivalents of Select one: a. $46,600. b. $43,500. c. $42,000. d. $50,000.

7 Diamond Company has the following items at year end: Cash in bank.............................................................$42,000 Petty cash......................................................................1,500 Short-term paper with maturity of 2 months...........6,500 Postdated cheques...................................................... 3,400 Diamond should report cash and cash equivalents of Select one: a. $46,600. b. $43,500. c. $42,000. d. $50,000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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