Exercise 8-14 a Wynn Company has recorded the following items in its financial records. Cash in bank $42,000 Cash in plant expansion fund 100,000 Cash on hand 12,000 art Highly liquid investments 34,000 Petty cash 500 Receivables from customers 89,000 ady Stock Investments 61,000 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 Wynn report as "Cash and cash equivalents" on its balance sheet? Cash and cash equivalents

Exercise 8-14 a Wynn Company has recorded the following items in its financial records. Cash in bank $42,000 Cash in plant expansion fund 100,000 Cash on hand 12,000 art Highly liquid investments 34,000 Petty cash 500 Receivables from customers 89,000 ady Stock Investments 61,000 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 Wynn report as "Cash and cash equivalents" on its balance sheet? Cash and cash equivalents

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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