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A new accountant at Ivanhoe Company is trying to identify which of the following amounts should be reported as the current asset Cash and cash
A new accountant at Ivanhoe Company is trying to identify which of the following amounts should be reported as the current asset Cash and cash equivalent in the year-end balance sheet, as at June 30, 2021: 1. Currency and coins totalling $89 in a locked box used for petty cash transactions. 2. 3. A 60-day, $12,500 marketable guaranteed investment certificate, due July 31, 2021. June-dated cheques worth $280 that Ivanhoe has received from customers but not yet deposited. 4. A $100 cheque received from a customer in payment of her June account, but postdated to July 1. 5. A balance of $2,300 in the Royal Bank chequing account. 6. A balance of $4,150 in the Royal Bank savings account. 7. Prepaid postage of $59 in the postage meter. 8. A $105 IOU from the company receptionist. 9. 10. Cash register floats of $315. Over-the-counter cash receipts for June 30 consisting of $560 of currency and coins, $160 of cheques from customers. $570 of debit card slips, and $700 of bank credit card slips. These amounts were processed by the bank and posted to the bank account on July 1. Ignore any related debit or credit card expenses. 9. Cash register floats of $315. 10. Over-the-counter cash receipts for June 30 consisting of $560 of currency and coins, $160 of cheques from customers, $570 of debit card slips, and $700 of bank credit card slips. These amounts were processed by the bank and posted to the bank account on July 1. Ignore any related debit or credit card expenses. (a) What amount should Ivanhoe report as its cash and cash equivalents balance at June 30, 2021? Cash and cash equivalents balance $
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