COMPONENTS OF CASH The office manager for Bullock Products had accumulated the following information at the end

Question:

COMPONENTS OF CASH The office manager for Bullock Products had accumulated the following information at the end of a recent year:

Item Amount Accounts receivable $16,450 Change for cash registers (currency and coin) 2,500 Amount on deposit in checking account 9,280 Amount on deposit in savings account 25,000 Balance in petty cash 300 Checks received from customers, but not yet deposited in bank 430 Checks sent by Bullock to suppliers, but not yet presented at bank for payment 670 Deposits in transit 1,240 IOU from Gerry Bullock, company president 1,000 Notes receivable 10,000 NSF check written by Johnson Company 320 Prepaid postage 250 Required:

Calculate the amount for cash in Bullock’s balance sheet.

Exercise

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Cornerstones Of Financial Accounting Current Trends Update

ISBN: 9781111527952

1st Edition

Authors: Jay Rich , Jeff Jones, Maryanne Mowen , Don Hansen

Question Posted: