One company had the following items in its “cash” account ad of december 31, 2022: Cash on handP150,000 Cash in abnk - unrestricted800,000 Cash restricted for additions to plant (to be disbursed in 2025)600,000 Bank certificates of deposit (acquired 12/25/2022; due in 4/1/2023)250,000 Cash in bank - to be used for payment of 2023 dividends300,000 How much should be reported as cash and cash equivalents as of December 31, 2022?
One company had the following items in its “cash” account ad of december 31, 2022: Cash on handP150,000 Cash in abnk - unrestricted800,000 Cash restricted for additions to plant (to be disbursed in 2025)600,000 Bank certificates of deposit (acquired 12/25/2022; due in 4/1/2023)250,000 Cash in bank - to be used for payment of 2023 dividends300,000 How much should be reported as cash and cash equivalents as of December 31, 2022?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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One company had the following items in its “cash” account ad of december 31, 2022:
Cash on handP150,000
Cash in abnk - unrestricted800,000
Cash restricted for additions to plant (to be disbursed in 2025)600,000
Bank certificates of deposit (acquired 12/25/2022; due in 4/1/2023)250,000
Cash in bank - to be used for payment of 2023 dividends300,000
How much should be reported as cash and cash equivalents as of December 31, 2022?
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