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A new accountant at Oriole Company is trying to identify which of the following amounts should be reported as the current asset Cash and cash
A new accountant at Oriole 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 $80 in a locked box used for petty cash transactions. | |
2. | A 60-day, $12,600 marketable guaranteed investment certificate, due July 31, 2021. | |
3. | June-dated cheques worth $326 that Oriole has received from customers but not yet deposited. | |
4. | A $94 cheque received from a customer in payment of her June account, but postdated to July 1. | |
5. | A balance of $2,670 in the Royal Bank chequing account. | |
6. | A balance of $4,290 in the Royal Bank savings account. | |
7. | Prepaid postage of $74 in the postage meter. | |
8. | A $104 IOU from the company receptionist. | |
9. | Cash register floats of $312. | |
10. | Over-the-counter cash receipts for June 30 consisting of $580 of currency and coins, $180 of cheques from customers, $590 of debit card slips, and $790 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 Oriole report as its cash and cash equivalents balance at June 30, 2021?
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