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?
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 23CE: Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019,...
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![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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5e3cc97e-a77f-4ac5-9e71-fb8b01208b37%2F2d8fc758-bb66-4b5d-9fce-20fa6dece7e1%2F7y6jjvd_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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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