Cash Equivalents Systematic Enterprises invested its excess cash in the following instruments during December 2010: Certifi cate
Question:
Cash Equivalents Systematic Enterprises invested its excess cash in the following instruments during December 2010:
Certifi cate of deposit, due January 31, 2013 $ 75,000 Certifi cate of deposit, due March 30, 2011 150,000 Commercial paper, original maturity date February 28, 2011 125,000 Deposit into a money market fund 25,000 Investment in stock 65,000 90-day Treasury bills 100,000 Treasury note, due December 1, 2040 500,000 Required Determine the amount of cash equivalents that should be combined with cash on the company’s balance sheet at December 31, 2010, and for purposes of preparing a statement of cash fl ows for the year ended December 31, 2010.AppendixLO1
Step by Step Answer:
Using Financial Accounting Information The Alternative To Debits And Credits
ISBN: 9780538452748
7th Edition
Authors: Curtis L. Norton, Gary A. Porter