Lor's Company has the following items: cash in a checking account, $4,000; cash in a savings account, $6,000, high - grade government securites due in one me (purchased last month), $3,536; accounts receivable, $3,000. How much should appear as Cash and Cash Equivalents on the balance sheet? OA $13,536 OB. $16,536 OC. $17,136 OD. $6,000

Lor's Company has the following items: cash in a checking account, $4,000; cash in a savings account, $6,000, high - grade government securites due in one me (purchased last month), $3,536; accounts receivable, $3,000. How much should appear as Cash and Cash Equivalents on the balance sheet? OA $13,536 OB. $16,536 OC. $17,136 OD. $6,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

CAN SOMEONE HELP ME FILL IN THE BLANK ? The information below relates to the Cash account in the ledger of Crane Company. Balance September 1—$17,180; Cash deposited—$64,410. Balance September 30—$18,344; Checks written—$63,246.
What the answer for 2 and 4?
Long Branch Company's Cash account shows an ending balance of $650. The bank statement shows a $12 service charge and an NSF check for $200. A $270 deposit is in transit, and outstanding checks total $450. What is Long Branch's adjusted cash balance? A. $438 B. $470 OC. $258 D. $862 OOO
"3D Company" has the following balances: Cash in Bank – Saving account at bank of $102,000. Petty cash of $4,000, Post-dated checks of $18,000, Travel advances of $14,000, and Certificates of deposit of $560,000. In “3D Company" statement of financial position, how much should be reported cash and cash equivalent? a. $680,000. b. $138,000. c. $124,000. d. $106,000.
Sheridan Company owns the following assets at the balance sheet date: Cash in bank-savings account $5,600 Cash on hand 840 Cash refund due from the Canada Revenue Agency 1,100 Cash in bank-chequing account 6,500 Stale-dated cheques from customers 250 Postdated cheques from customers 500 60-day treasury bill 10,000 What amount should be reported as cash and cash equivalents in the balance sheet? Cash and cash equivalents A I
On April 3, Erin Gardner received her bank statement showing a balance of $2,086.93. Her checkbook showed a balance of $1,912.47. Outstanding checks were $234.15, $317.80, $78.10, $132.42, and $212.67. The account earned $20.43. Deposits in transit amount to $814.11, and there is a service charge of $7.00. Use the form below to calculate the reconciled balance. CHECKBOOK BALANCE Add: Interest Earned & Other Credits SUBTOTAL Deduct: Service Charges & Other Debits ADJUSTED CHECKBOOK BALANCE tA ta ta ta tA STATEMENT BALANCE Add: Deposits in Transit SUBTOTAL Deduct: Outstanding Checks LA tA ·SA $ LA ADJUSTED STATEMENT BALANCE $ LA E
Anna’s Cookies combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported for cash and cash equivalents. $270 in coins held in store registers. $4,340 cash in checking accounts. $770 in accounts payable to suppliers. $2,550 worth of equipment. $1,340 cash in a safe at the store. $6,700 note receivable due in 10 years.
29
The cash register tape for Sheridan Industries reported sales of $27,292.00. Record the journal entry that would be necessary for each of the following situations. (a) Sales per cash register tape exceeds cash on hand by $53.50. (b) Cash on hand exceeds cash reported by cash register tape by $22.00. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 2 decimal places, e.g. 52.75.) No. Account Titles and Explanation Debit Credit (a) (b)
A company's Cash account shows a balance of $3,460 at the end of the month. Comparing the company's Cash account with the monthly bank statement reveals several additional cash transactions such as bank service fees ($50), an NSF check from a customer ($370), a customer's note receivable collected by the bank ($1,600), and interest earned ($130). Required: Record the necessary entry(ies) to adjust the company's balance for cash. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the items that increase cash. 2 Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general Journal
Please help me
ABC Company provided the following information: Bills and coins 50,000Postdated check from customer 125,000NSF check received from customer 320,000Unreleased check 80,000Postdated check sent to a supplier 75,000Petty cash fund 10,000Postal money order 35,000Cash in closed Banks100,000 How much is the cash to be presented in the statement of financial position?