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Indicate how each of the items below should be reported using the following classifications: (a) cash, (b) restricted cash, (c) (C) temporary investment, (d) receivable, (e)

Indicate how each of the items below should be reported using the following classifications: (a) cash, (b) restricted cash, (c) (C) temporary investment, (d) receivable, (e)

FINANCIAL ACCOUNTING
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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ull Lycamobile 16:50 2. What amount would be reported as unrestricted cash on the balance sheet? vious Ne
Transcribed Image Text:ull Lycamobile 16:50 2. What amount would be reported as unrestricted cash on the balance sheet? vious Ne
Lycamobile Indicate how each of the items below should be reported using the following classifications: (a) cash, (b) restricted cash, (c) temporary investment, (d) receivable, (e) liability, or (f) office supplies. (1) Checking account at First Security $ (20) (2) Checking account at Second Security. 350 (3) U.S. t-bills.... 650 (4) Payroll bank account 100 (5) Sales tax bank account 150 (6) Foreign bank account-restricted (in equivalent U.S. dollars) 750 (7) Postage stamps... (8) Employee's postdated check 22 30 (9) IOU from president's brother 75 (10) Credit memo from a vendor for a purchase return 87 (11) Traveler's check. 50 (12) NSF check. 18 (13) Petty cash fund ($16 in currency and expense receipts for $84) 100 (14) Money order. 36
Transcribed Image Text:Lycamobile Indicate how each of the items below should be reported using the following classifications: (a) cash, (b) restricted cash, (c) temporary investment, (d) receivable, (e) liability, or (f) office supplies. (1) Checking account at First Security $ (20) (2) Checking account at Second Security. 350 (3) U.S. t-bills.... 650 (4) Payroll bank account 100 (5) Sales tax bank account 150 (6) Foreign bank account-restricted (in equivalent U.S. dollars) 750 (7) Postage stamps... (8) Employee's postdated check 22 30 (9) IOU from president's brother 75 (10) Credit memo from a vendor for a purchase return 87 (11) Traveler's check. 50 (12) NSF check. 18 (13) Petty cash fund ($16 in currency and expense receipts for $84) 100 (14) Money order. 36
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