Riverside Fertilizer Co. owns the following assets at the balance sheet date. Cash in bank savings account

Question:

Riverside Fertilizer Co. owns the following assets at the date.
Cash in bank savings account ....... $ 8,000
Cash on hand ............. . 850
Cash refund due from the IRS ....... 1,000
Checking account balance ........ 14,000
Postdated checks ........... 500
What amount should Riverside report as cash in the Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...