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Attengk in Progress Crane Company has recorded the following items in its financial recs. Cash in bank Cash in plant expansion fund Cash on hand Highly liquid investments Petty cash Receivables from customers Stock investments $51,200 101,200 12,200 38,700 520 93,300 68,500 The highly liquid investments had maturities of 3 months or less when they were purchased. The stock investments will be sold in the next 6 to 12 months. The plant expansion project will begin in 3 years. What amount should Crane report as "Cash and cash equivalents' on its balance sheet?

Attengk in Progress Crane Company has recorded the following items in its financial recs. Cash in bank Cash in plant expansion fund Cash on hand Highly liquid investments Petty cash Receivables from customers Stock investments $51,200 101,200 12,200 38,700 520 93,300 68,500 The highly liquid investments had maturities of 3 months or less when they were purchased. The stock investments will be sold in the next 6 to 12 months. The plant expansion project will begin in 3 years. What amount should Crane report as "Cash and cash equivalents' on its balance sheet?

FINANCIAL ACCOUNTING
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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Tent Attempt in Progress Crane Company has recorded the following items in its financial rec Cash in bank Cash in plant expansion fund Cash on hand Highly liquid investments Petty cash Receivables from customers Stock investments $51,200 101,200 12,200 38,700 520 93,300 68,500 The highly liquid investments had maturities of 3 months or less when they were purchased. The stock investments will be sold in the next 6 to 12 months. The plant expansion project will begin in 3 years. (a) What amount should Crane report as "Cash and cash equivalents' on its balance sheet?
Transcribed Image Text:Tent Attempt in Progress Crane Company has recorded the following items in its financial rec Cash in bank Cash in plant expansion fund Cash on hand Highly liquid investments Petty cash Receivables from customers Stock investments $51,200 101,200 12,200 38,700 520 93,300 68,500 The highly liquid investments had maturities of 3 months or less when they were purchased. The stock investments will be sold in the next 6 to 12 months. The plant expansion project will begin in 3 years. (a) What amount should Crane report as "Cash and cash equivalents' on its balance sheet?
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