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. $16,000 cash deposit in checking account. $46,000 bond investment due in 20 years. $11,500 U.S. Treasury bill due in 1 month. $850, 3-year loan to an employee. $3,600 of currency and coins. $1,150 of accounts receivable. Checking account Bond investment U.S. Treasury bill Loan to an employee Currency and coins Accounts receivable Cash and cash equivalents 24
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. $16,000 cash deposit in checking account. $46,000 bond investment due in 20 years. $11,500 U.S. Treasury bill due in 1 month. $850, 3-year loan to an employee. $3,600 of currency and coins. $1,150 of accounts receivable. Checking account Bond investment U.S. Treasury bill Loan to an employee Currency and coins Accounts receivable Cash and cash equivalents 24
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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.
• $16,000 cash deposit in checking account.
$46,000 bond investment due in 20 years.
$1,500 U.S. Treasury bill due in 1 month.
$850, 3-year loan to an employee.
• $3,600 of currency and coins.
$1,150 of accounts receivable.
Checking account
Bond investment
U.S. Treasury bill
Loan to an employee
Currency and coins
Accounts receivable
Cash and cash equivalents
2$](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F97b5df25-1667-438a-b46e-c2a0d1ae7c86%2Fc0ec5497-7e20-4322-9ee2-07318539ccaf%2F18eyalo_processed.jpeg&w=3840&q=75)
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.
• $16,000 cash deposit in checking account.
$46,000 bond investment due in 20 years.
$1,500 U.S. Treasury bill due in 1 month.
$850, 3-year loan to an employee.
• $3,600 of currency and coins.
$1,150 of accounts receivable.
Checking account
Bond investment
U.S. Treasury bill
Loan to an employee
Currency and coins
Accounts receivable
Cash and cash equivalents
2$
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