Question
As of December 31, Year 1, Valley Company has $15,520 cash in its checking account, as well as several other items listed below: Bank credit
As of December 31, Year 1, Valley Company has $15,520 cash in its checking account, as well as several other items listed below:
| Bank credit card slips signed by customers | $ 1,425 |
|---|---|
| Money market fund balance | $ 28,000 |
| Investment in U.S. Treasury bills, mature within 90 days | $ 40,000 |
| Checks received from customers, but not yet deposited in the bank | $ 1,740 |
| Investment in 4,500 shares of Coca-Cola capital stock | $ 57,000 |
What amount should be shown in Valley's December 31, Year 1, balance sheet as "Cash and cash equivalents"?
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Management Accounting International
Authors: Anthony A. Atkinson, Robert S. Kaplan, S. Mark Young
4th Edition
0131230263, 978-0131230262
