The following data pertain to ABC Corporation on December 31, 2022 Payroll account - 500,000 Treasury bills, due 1/31/23 (purchased 11/2/22) - 300,000 Credit memo from a vendor for a purchase return - 20,000 Treasury bills, due 3/31/23 (purchased 12/1/22) - 200,000 Money order - 30,000 Treasury bills, due 1/30/23 (purchased 10/31/22) - 400,000 Customer’s check outstanding for 18 months - 50,000 Time deposit – 30 days - 200,000 Certificate of deposit (due June 30, 2023 acquired December 31, 2022) - 500,000 360-day Treasury bills, due 1/31/23 (purchased 11/2/22) - 600,000 Compute the total amount to be included as cash equivalents as of December 31, 2022.
The following data pertain to ABC Corporation on December 31, 2022 Payroll account - 500,000 Treasury bills, due 1/31/23 (purchased 11/2/22) - 300,000 Credit memo from a vendor for a purchase return - 20,000 Treasury bills, due 3/31/23 (purchased 12/1/22) - 200,000 Money order - 30,000 Treasury bills, due 1/30/23 (purchased 10/31/22) - 400,000 Customer’s check outstanding for 18 months - 50,000 Time deposit – 30 days - 200,000 Certificate of deposit (due June 30, 2023 acquired December 31, 2022) - 500,000 360-day Treasury bills, due 1/31/23 (purchased 11/2/22) - 600,000 Compute the total amount to be included as cash equivalents as of December 31, 2022.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following data pertain to ABC Corporation on December 31, 2022
Payroll account - 500,000
Treasury bills, due 1/31/23 (purchased 11/2/22) - 300,000
Credit memo from a vendor for a purchase return - 20,000
Treasury bills, due 3/31/23 (purchased 12/1/22) - 200,000
Money order - 30,000
Treasury bills, due 1/30/23 (purchased 10/31/22) - 400,000
Customer’s check outstanding for 18 months - 50,000
Time deposit – 30 days - 200,000
Certificate of deposit (due June 30, 2023 acquired December 31, 2022) - 500,000
360-day Treasury bills, due 1/31/23 (purchased 11/2/22) - 600,000
Compute the total amount to be included as cash equivalents as of December 31, 2022.
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