Littlestown Corporation reports the following information: Balance in National Bank checking account Certificates of deposit Petty cash Cash on hand Employees' IOUS Balance in Society Bank checking account Customer's postdated check Balance in Peoples Savings and Loan savings account $15,155 5,600 425 4,325 225 (300) 175 9,500 Required: Compute the correct amount of cash that will appear as a current asset on Littlestown Corporation's balance s

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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Littlestown Corporation reports the following information:
Balance in National Bank checking account
Certificates of deposit
Petty cash
Cash on hand
Employees' IOUS
Balance in Society Bank checking account
Customer's postdated check
Balance in Peoples Savings and Loan savings account
$15,155
5,600
425
4,325
225
(300)
175
9,500
Required:
Compute the correct amount of cash that will appear as a current asset on Littlestown Corporation's balance sheet.
Transcribed Image Text:Littlestown Corporation reports the following information: Balance in National Bank checking account Certificates of deposit Petty cash Cash on hand Employees' IOUS Balance in Society Bank checking account Customer's postdated check Balance in Peoples Savings and Loan savings account $15,155 5,600 425 4,325 225 (300) 175 9,500 Required: Compute the correct amount of cash that will appear as a current asset on Littlestown Corporation's balance sheet.
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