Mullins Corp. reported the following items on its June 30, 2020 trial balance and on its comparative
Question:
Mullins Corp. reported the following items on its June 30, 2020 trial balance and on its comparative trial balance one year earlier:
Determine the June 30, 2020 cash and cash equivalents amount for the 2020 statement of cash flows, and calculate the change in cash and cash equivalents since June 30, 2019.
June 30, 2020 June 30, 2019 Cash in bank $12,100 $ 9,460 Petty cash 700 525 Investment in shares of GTT Ltd. (to be sold within 60 days) 6,500 -0- Investment in Canada 60-day treasury bills 22,000 -0- Accounts payable 66,300 69,225 Temporary bank overdraft, chequing account 13,800 1,000
Step by Step Answer:
June 30 June 30 Net 2020 2019 Increase Cash i...View the full answer
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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