Jones and Ferry Ltd invested its excess cash outside the business in the following mannerduring December,2014:ParticularsCertificate of deposit, due Jan 31, 2017Certificate of deposit, due March 30,2015 S 180,000Amount$ 120,000Commercial paper, original maturityFebruary 28, 2015Deposit into a money market fundS 130,000$ 35,000$ 55,000$ 30,000$ 600,000Investment in stock90-day Treasury billsTreasury note, due December 1, 2044Calculate the amount to be represented as cash and cash equivalents in the balance sheetof that date.a. Amount of cash and cash equivalents is $370,000.b. Amount of cash and cash equivalents is $305,000.c. Amount of cash and cash equivalents is $375,000.d. Amount of cash and cash equivalents is $365,000.

Cash Equivalent:- These are those securities that are highly liquid and are readily convertible into…

Jones and Ferry Ltd invested its excess cash outside the business in the following manner during December,2014: Particulars Amount |Certificate of deposit, due Jan 31, 2017 |Certificate of deposit, due March 30,2015| S 180,000 S 120,000 Commercial paper, original maturity February 28, 2015 S 130,000 S 35,000 S 55,000 $ 30,000 Deposit into a money market fund Investment in stock 90-day Treasury bills Treasury note, due December 1, 2044 S 600,000 Calculate the amount to be represented as cash and cash equivalents in the balance sheet off that date. a. Amount of cash and cash equivalents is $370,000. b. Amount of cash and cash equivalents is $305,000. c. Amount of cash and cash equivalents is $375,000. d. Amount of cash and cash equivalents is $365.000.

Jones and Ferry Ltd invested its excess cash outside the business in the following manner during December,2014: Particulars Amount |Certificate of deposit, due Jan 31, 2017 |Certificate of deposit, due March 30,2015| S 180,000 S 120,000 Commercial paper, original maturity February 28, 2015 S 130,000 S 35,000 S 55,000 $ 30,000 Deposit into a money market fund Investment in stock 90-day Treasury bills Treasury note, due December 1, 2044 S 600,000 Calculate the amount to be represented as cash and cash equivalents in the balance sheet off that date. a. Amount of cash and cash equivalents is $370,000. b. Amount of cash and cash equivalents is $305,000. c. Amount of cash and cash equivalents is $375,000. d. Amount of cash and cash equivalents is $365.000.

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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