CASH REPORTING Brown Industries has the following items:

Currency $20,000 Customer checks that have not been deposited 500 Cash in saving and checking accounts 80,000 Certificates of deposits that originally matured in 18 months 25,000 U.S. government bonds that originally matured in 3 months 12,000 U.S. government bonds that originally matured in 12 months 18,000 Required:

How much should Brown report as cash and equivalents on its balance sheet?

Cornerstone Exercise