Richter Industries has the following items: Currency $27,500 Customer cheques that have not been deposited 850 Canada government bonds that originally mature in 3 months 11,000 Canada government bonds that originally mature in 12 months 14,000 Cash in savings and chequing accounts 50,000 Certificates of deposits that originally mature in 18 months 47,000 Required: How much should Richter report as cash and equivalents on its balance sheet?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Cash Reporting

Richter Industries has the following items:

Currency $27,500
Customer cheques that have not been deposited 850
Canada government bonds that originally mature in 3 months 11,000
Canada government bonds that originally mature in 12 months 14,000
Cash in savings and chequing accounts 50,000
Certificates of deposits that originally mature in 18 months 47,000

Required:

How much should Richter report as cash and equivalents on its balance sheet?

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