FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Specter Company combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount
reported on the year-end balance sheet for cash and cash equivalents.
.
$4,000 cash deposit in checking account.
.
$22,000 bond investment due in 20 years.
•
$5,500 U.S. Treasury bill due in 1 month.
$250, 3-year loan to an employee.
•
$1,200 of currency and coins.
$550 of accounts receivable.
Included in
Cash and
Cash and
Amount
Cash
Equivalents?
Cash
Equivalents
Amount
Checking account
$
4,000
Bond investment
22,000
U.S. Treasury bill
5,500
Loan to an employee
250
Currency and coins
1,200
Accounts receivable
550
Total Cash and cash equivalents
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Transcribed Image Text:Specter Company combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported on the year-end balance sheet for cash and cash equivalents. . $4,000 cash deposit in checking account. . $22,000 bond investment due in 20 years. • $5,500 U.S. Treasury bill due in 1 month. $250, 3-year loan to an employee. • $1,200 of currency and coins. $550 of accounts receivable. Included in Cash and Cash and Amount Cash Equivalents? Cash Equivalents Amount Checking account $ 4,000 Bond investment 22,000 U.S. Treasury bill 5,500 Loan to an employee 250 Currency and coins 1,200 Accounts receivable 550 Total Cash and cash equivalents
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