Specter Co. combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported on the year-end balance sheet for cash and cash equivalents. $19,000 cash deposit in checking account. $52,000 bond investment due in 20 years. $13,000 U.S. Treasury bill due in 1 month. $1,000, 3-year loan to an employee. $4,200 of currency and coins. $1,300 of accounts receivable. Checking account Bond investment U.S. Treasury bill Loan to an employee Currency and coins Accounts receivable Cash and cash equivalents $

College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter23: Statement Of Cash Flows
Section: Chapter Questions
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Specter Co. combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount
reported on the year-end balance sheet for cash and cash equivalents.
$19,000 cash deposit in checking account.
$52,000 bond investment due in 20 years.
$13,000 U.S. Treasury bill due in 1 month.
$1,000, 3-year loan to an employee.
$4,200 of currency and coins.
$1,300 of accounts receivable.
Checking account
Bond investment
U.S. Treasury bill
Loan to an employee
Currency and coins
Accounts receivable
Cash and cash equivalents
$
Transcribed Image Text:Specter Co. combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported on the year-end balance sheet for cash and cash equivalents. $19,000 cash deposit in checking account. $52,000 bond investment due in 20 years. $13,000 U.S. Treasury bill due in 1 month. $1,000, 3-year loan to an employee. $4,200 of currency and coins. $1,300 of accounts receivable. Checking account Bond investment U.S. Treasury bill Loan to an employee Currency and coins Accounts receivable Cash and cash equivalents $
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