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Unadjusted Adjusted Trial Balance Trial Balance Adjustment Petty Cash Bank of Montreal - Chequing 550 10,326 Bank of Montreal - Deposit 1,056,627 Royal Bank - Chequing Short-term paper (A) Short-term paper (B) 85,647 95,000 34,500 Restricted Cash 400,000 1,661,998| Short-term paper (A) 95,000 4 month paper @3.5% interest with Hilo Investments - Purchased November 1, 2020. Short-term paper (B) 34,500 45 day paper @2.5% interest - Purchased December 20, 2020 Restricted Cash 400,000 set aside for bank loan - have to maintain 10% of bank loan payable in restricted cash per agreement

Unadjusted Adjusted Trial Balance Trial Balance Adjustment Petty Cash Bank of Montreal - Chequing 550 10,326 Bank of Montreal - Deposit 1,056,627 Royal Bank - Chequing Short-term paper (A) Short-term paper (B) 85,647 95,000 34,500 Restricted Cash 400,000 1,661,998| Short-term paper (A) 95,000 4 month paper @3.5% interest with Hilo Investments - Purchased November 1, 2020. Short-term paper (B) 34,500 45 day paper @2.5% interest - Purchased December 20, 2020 Restricted Cash 400,000 set aside for bank loan - have to maintain 10% of bank loan payable in restricted cash per agreement

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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a. Cash & Equivalents In the Excel spreadsheet, see the details for the cash equivalents in order to accrue interest earned, if needed.
Transcribed Image Text:a. Cash & Equivalents In the Excel spreadsheet, see the details for the cash equivalents in order to accrue interest earned, if needed.
Adjusted Trial Balance Unadjusted Trial Balance Adjustment Petty Cash Bank of Montreal - Chequing 550 10,326 Bank of Montreal - Deposit 1,056,627 Royal Bank - Chequing Short-term paper (A) Short-term paper (B) 85,647 95,000 34,500 Restricted Cash 400,000 1,661,998 Short-term paper (A) Short-term paper (B) 95,000 4 month paper @3.5% interest with Hilo Investments - Purchased November 1, 2020. 34,500 45 day paper @2.5% interest - Purchased December 20, 2020 400,000 set aside for bank loan - have to maintain 10% of bank loan payable in restricted cash per agreement Restricted Cash
Transcribed Image Text:Adjusted Trial Balance Unadjusted Trial Balance Adjustment Petty Cash Bank of Montreal - Chequing 550 10,326 Bank of Montreal - Deposit 1,056,627 Royal Bank - Chequing Short-term paper (A) Short-term paper (B) 85,647 95,000 34,500 Restricted Cash 400,000 1,661,998 Short-term paper (A) Short-term paper (B) 95,000 4 month paper @3.5% interest with Hilo Investments - Purchased November 1, 2020. 34,500 45 day paper @2.5% interest - Purchased December 20, 2020 400,000 set aside for bank loan - have to maintain 10% of bank loan payable in restricted cash per agreement Restricted Cash
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