Blakely Industries has the following items: Currency $26,250 Customer checks that have not been deposited 700 U.S. government bonds that originally maturing in 3 months 13,000 U.S. government bonds that originally maturing in 12 months 14,000 Cash in saving and checking accounts 64,000 Certificates of deposits that originally maturing in 18 months 47,000

From page 4-2 of the VLN, which of the following is considered a Cash Equivalent? A. Shares of stock in Amazon.com B. 90 day supply of paper C. Account receivable to be collected in 30 days D. 3 month Certificate of Deposit

The cash account of SWITZER ltd. reported a balance of $2,500 at August 31,2020. Included were the outstanding cheques totalling $900 and on August 31 deposit of $500 that did not appear on the bank statement. The bank statement, which came from HSBC bank, listed on August 31,2020, balance of $3,405. Included in the bank balance was on August 30 collection of $550 on account from a customer who pays the bank directly. The bank statement also shows a $20 service charge, $10 of interest revenue that SWITZER earned on its bank balance and an NSF cheque for $35. Make the company’s journal entries for transactions that arise from the bank reconciliation. Include an explanation with each entry.

Delta Automotive Corporation has the following assets listed in its 12/31/2024 trial balance: Cash in bank-checking account $ 34,500 U.S. Treasury bills (mature in 60 days)*Footnote asterisk 7,000 Cash on hand (currency and coins ) 2,550 U.S. Treasury bills (mature in six months)*Footnote asterisk 22,000 Undeposited customer checks 3,040 * Footnote asterisk Purchased on 11/30/2024 Required: Determine the correct balance of cash and cash equivalents to be reported in the current asset section of the 2024 balance sheet. For each of the items not included in your answer to requirement 1, select the correct classification of the item.