Sage Enterprises owns the following assets at December 31, 2020. Cash in bank-savings account 69,300 Checking account balance 18,600 Cash on hand 8,820 Postdated checks 860 Cash refund due from IRS 41,200 Certificates of deposit (180-day) 90,960 What amount should be reported as cash?

Sage Enterprises owns the following assets at December 31, 2020. Cash in bank-savings account 69,300 Checking account balance 18,600 Cash on hand 8,820 Postdated checks 860 Cash refund due from IRS 41,200 Certificates of deposit (180-day) 90,960 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

Sage Enterprises owns the following assets at December 31, 2020.
Cash in bank-savings account
69,300
Checking account balance
18,600
Cash on hand
8,820
Postdated checks
860
Cash refund due from IRS
41,200
Certificates of deposit (180-day)
90,960
What amount should be reported as cash?
Cash to be reported
$4

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