Financial Accounting Question need help Cullumber Supplies Co. owns the following items:ItemCash in bank savings accountCash on handAmount ($)$9,500$950Cash refund due from the government $1,200Chequing account balancePostdated cheques$15,000$600What amount should Cullumber Supplies Co. report as cash?

Step 1: Define Cash for Reporting PurposesCash for Reporting Purposes refers to the amount of cash…

Answered: Cullumber Supplies Co. owns the…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter6: Cash And Internal Control

Section: Chapter Questions

Problem 6.9MCE

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Can you please solve these accounting question?
Novak Enterprises owns the following assets at December 31, 2025. Cash in bank-savings account $67,800 Cash on hand Cash refund due from IRS 8,710 Cash to be reported $ 33,800 What amount should be reported as cash? Checking account balance Postdated checks Certificates of deposit (180-day) $22,500 850 94,980
Se.111.
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What is the correct amount of cash? * The statement of financial position of Money Company on December 31, 2020 shows cash of P330,820. The following items were found to comprise this total amount: Checking account in Metrobank Savings account at Far East Bank Petty cash fund (including expense receipts of P250) Cash on hand (undeposited sales receipts) Sinking fund cash Cash in foreign bank (in equivalent pesos) Customers' checks on hand – traveler's check 105,200 30,800 1,500 4,200 35,000 65,000 14,000 23,120 Customers' checks on hand - manager's check Short-term treasury bills Money Company also has on hand a check payable to supplier amounting to P62,000, which has been recorded in the cash disbursements journal in December. The sinking fund is intended to be used to settle the firm's noncurrent bonds payable. 52,000 What is the correct amount of cash?
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Cullumber Supplies Co. owns the following items: Item Cash in bank savings account Cash on hand Amount ($) $9,500 $950 Cash refund due from the government $1,200 Chequing account balance Postdated cheques $15,000 $600 What amount should Cullumber Supplies Co. report as cash?