FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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…
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Select (Yes or No) whether each of the following is properly included in Cash and Cash Equivalents. Cash and Cash Equivalents 1. $10,000 of government Treasury bills purchased 10 days prior to their maturity. 2. $50,000 of government Treasury bills purchased to satisfy a legal requirement to set aside funds for a landfill clean-up. 3. $10,000 of cash owed by customers on sales made within 20 days of year-end. 4. $1,000 of cash in the petty cash custodian's locked cash box.
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Transcribed Image Text:Select (Yes or No) whether each of the following is properly included in Cash and Cash Equivalents. Cash and Cash Equivalents 1. $10,000 of government Treasury bills purchased 10 days prior to their maturity. 2. $50,000 of government Treasury bills purchased to satisfy a legal requirement to set aside funds for a landfill clean-up. 3. $10,000 of cash owed by customers on sales made within 20 days of year-end. 4. $1,000 of cash in the petty cash custodian's locked cash box.
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