Novak Enterprises owns the following assets at December 31, 2025. Cash in bank-savings account $67,800 Cash on hand Cash refund due from IRS 8,710 Cash to be reported $ 33,800 What amount should be reported as cash? Checking account balance Postdated checks Certificates of deposit (180-day) $22,500 850 94,980

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Novak Enterprises owns the following assets at December 31, 2025.
Cash in bank-savings account $67,800
Cash on hand
Cash refund due from IRS
8,710
Cash to be reported $
33,800
What amount should be reported as cash?
Checking account balance
Postdated checks
Certificates of deposit (180-day)
$22,500
850
94,980
Transcribed Image Text:Novak Enterprises owns the following assets at December 31, 2025. Cash in bank-savings account $67,800 Cash on hand Cash refund due from IRS 8,710 Cash to be reported $ 33,800 What amount should be reported as cash? Checking account balance Postdated checks Certificates of deposit (180-day) $22,500 850 94,980
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