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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text: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
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