Gia Company has the fTollowing ihförma ion avallable. Cash pledged as collateral U.S. Treasury bill due in one month (purchased six months ago) U.S. Treasury bill due in one year (purchased yesterday) Cash in checking account $3,000,000 $3,000,000 $2,500,000 $400,000 What is the amount of Cash and Cash Equivalents to be reported on the balance sheet? O A. $0 B. $3,400,000 O C. $400,000 O D. $5,900,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Gia Company has the following information available:
Cash pledged as collateral
U.S. Treasury bill due in one month (purchased six months ago)
U.S. Treasury bill due in one year (purchased yesterday)
Cash in checking account
$3,000,000
$3,000,000
$2,500,000
$400,000
What is the amount of Cash and Cash Equivalents to be reported on the balance sheet?
O A. $0
O B. $3,400,000
O C. $400,000
O D. $5,900,000
Transcribed Image Text:Gia Company has the following information available: Cash pledged as collateral U.S. Treasury bill due in one month (purchased six months ago) U.S. Treasury bill due in one year (purchased yesterday) Cash in checking account $3,000,000 $3,000,000 $2,500,000 $400,000 What is the amount of Cash and Cash Equivalents to be reported on the balance sheet? O A. $0 O B. $3,400,000 O C. $400,000 O D. $5,900,000
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