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

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

Problem 1Q

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Question

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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