Knowledge Check 01 A company reports the following information as of December 31, Year 1: Cash and currency in cash registers Investment in debt security on December 31, Year 1 that matures on February 1, Year 2 Investment in equity security Checking account balance Petty cash $50,000 25,000 10,000 20,000 1,000 What is the amount of cash and cash equivalents that will be reported on the company's balance shéet at December 31, Year 1? Cash and cash equivalents
Knowledge Check 01 A company reports the following information as of December 31, Year 1: Cash and currency in cash registers Investment in debt security on December 31, Year 1 that matures on February 1, Year 2 Investment in equity security Checking account balance Petty cash $50,000 25,000 10,000 20,000 1,000 What is the amount of cash and cash equivalents that will be reported on the company's balance shéet at December 31, Year 1? Cash and cash equivalents
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information
Beginning a balances
from the banhet
Cash Equivalents
Readily convertible to known amounts of cash
So near to maturity there is little risk that their
value will change if interest rates change
Knowledge Check 01
A company reports the following information as of December 31, Year 1:
$50,000
Cash and currency in cash registers
Investment in debt security on December 31, Year 1 that
matures on February 1, Year 2
Investment in equity security
Checking account balance
Petty cash
25,000
10,000
20,000
1,000
What is the amount of cash and cash equivalents that will be reported on the company's balance sheet at December 31, Year 1?
Cash and cash equivalents
Prey
12 of 11
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Transcribed Image Text:Saved
Help
Save & Ex
Required information
Beginning a balances
from the banhet
Cash Equivalents
Readily convertible to known amounts of cash
So near to maturity there is little risk that their
value will change if interest rates change
Knowledge Check 01
A company reports the following information as of December 31, Year 1:
$50,000
Cash and currency in cash registers
Investment in debt security on December 31, Year 1 that
matures on February 1, Year 2
Investment in equity security
Checking account balance
Petty cash
25,000
10,000
20,000
1,000
What is the amount of cash and cash equivalents that will be reported on the company's balance sheet at December 31, Year 1?
Cash and cash equivalents
Prey
12 of 11
Next >
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