Burr Company had the following account balances at Decem 31, 1998: Cash in bank Cash on hand Cash legally restricted for additions to plant (expected to be disbursed in 1999) 2,250 125 1,600
Burr Company had the following account balances at Decem 31, 1998: Cash in bank Cash on hand Cash legally restricted for additions to plant (expected to be disbursed in 1999) 2,250 125 1,600
Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter5: Internal Control And Cash
Section: Chapter Questions
Problem 2SEQ
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![Burr Company had the following account balances at December
31, 1998:
Cash in bank
Cash on hand
Cash legally restricted for additions to plant
(expected to be disbursed in 1999)
2,250,000
125,000
1,600,000
Cash in bank includes P600,000 of compensating balance against
short-term borrowing arrangement. The compensating balance
s-not legally restricted as to withdrawal by Burr. In the current
assets section of Burr's December 31, 1998 balance sheet, total
cash should be reported at](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F35b956c9-a195-4dac-b4da-81b14e389938%2F055a1391-418d-422e-a3bd-c17aa741be06%2Fyiw8st5_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Burr Company had the following account balances at December
31, 1998:
Cash in bank
Cash on hand
Cash legally restricted for additions to plant
(expected to be disbursed in 1999)
2,250,000
125,000
1,600,000
Cash in bank includes P600,000 of compensating balance against
short-term borrowing arrangement. The compensating balance
s-not legally restricted as to withdrawal by Burr. In the current
assets section of Burr's December 31, 1998 balance sheet, total
cash should be reported at
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