Ask Question
4 November, 17:49

Below are several amounts reported at the end of the year. Currency located at the company $ 650 Supplies 1,600 Short-term investments that mature within three months 1,550 Accounts receivable 1,900 Balance in savings account 6,900 Checks received from customers but not yet deposited 250 Prepaid rent 1,050 Coins located at the company 110 Equipment 7,800 Balance in checking account 4,600 Required: Calculate the amount of cash to report in the balance sheet.

+3
Answers (1)
  1. 4 November, 18:06
    0
    The amount of cash to report in the balance sheet is $14,060

    Explanation:

    The computation of the cash reported in the balance sheet is shown below:

    = Currency located at the company + Short-term investments that mature within three months + Balance in savings account + Checks received from customers but not yet deposited + Coins located at the company + Balance in checking account

    = $650 + $1,550 + $6,900 + $250 + $110 + $4,600

    = $14,060

    The other items which are given in the question is not consider. Hence, ignored it
Know the Answer?