Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

32) Reporting of cash December 31, 2020. Burkina Ltd.'s general ledger Cash balance was $24,600. In addition, Burkina held the following items in its safe

image text in transcribed

32) Reporting of cash December 31, 2020. Burkina Ltd.'s general ledger Cash balance was $24,600. In addition, Burkina held the following items in its safe on December 31: 1 A chegue for 5780 from Zambia Ltd. received December 30, 2020, which was not deposited unl January 2, 2021. A cheque from Zanzibar Inc for $1,800 that had been deposited on December 20, but was returned NSF on December 29. The cheque was to be re-deposited on January 3, 2021. The original deposit has been inciuded in the December 31 chequebook balance. 3. Coin and currency on hand: $2,630. 2 Instructions Calculate the proper amount to be reported as cash on Burkina's statement of financial position at December 31, 2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer

12th Edition

978-0073526706, 9780073526706

Students also viewed these Accounting questions