Kraft Enterprises owns the following assets at December 31, 2017. Cash in bank—savings account 68,000 Checking account balance 17,000 Cash on hand 9,300 Postdated checks 750 Cash refund due from IRS 31,400 Certificates of deposit (180-day) 90,000 What amount should be reported as cash?

Kraft Enterprises owns the following assets at December 31, 2017. Cash in bank—savings account 68,000 Checking account balance 17,000 Cash on hand 9,300 Postdated checks 750 Cash refund due from IRS 31,400 Certificates of deposit (180-day) 90,000 What amount should be reported as cash?

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

Kraft Enterprises owns the following assets at December 31, 2017.

Cash in bank—savings account	68,000	Checking account balance	17,000
Cash on hand	9,300	Postdated checks	750
Cash refund due from IRS	31,400	Certificates of deposit (180-day)	90,000

What amount should be reported as cash?

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