Answered: cash balance as of March 31

Business

Accounting

cash balance as of March 31

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 3.6C

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

H7.

What is ABC Company, Inc.'s cash balance as of March 31?

Cash balance on depositor's books: $15,000

checks in circulation: $2,500

interest earned on account balance: $15

customer check returned for non-sufficient funds (“NSF”): $100

multiple choice

a)$12,500

b)$14,885

c)$14,915

d)$17,385

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Accounting for Cash and cash equivalents

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