Question
ABC Company had the following items listed in its trial balance at 12/31/2015: Balance in checking account, Bank of the East $442,000 Treasury bills, purchased
ABC Company had the following items listed in its trial balance at 12/31/2015:
| Balance in checking account, Bank of the East | $442,000 |
| Treasury bills, purchased on 11/1/2015 mature on 1/30/2016 | $20,000 |
| Long-term loan payable, Bank of the East | $300,000 |
| Commercial paper, purchased on 12/1/2015 mature on 7/1/2016 | $50,000 |
What amount will ABC include in its year-end balance sheet as cash and cash equivalents?
| A. | $512,000 | |
| B. | $462,000 | |
| C. | $812,000 | |
| D. | None of above |
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Primary Science Audit And Test
Authors: Jenny Byrne, Andri Christodoulou, John Sharp
4th Edition
1446282732, 978-1446282731
