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at the end of the accounting year, December 31, 2020, Tuchel company had a petty cash fund balance of $5,000, a chequing account balance of
at the end of the accounting year, December 31, 2020, Tuchel company had a petty cash fund balance of $5,000, a chequing account balance of $250,000 in a bank A, an overdraft of $20,000 with Bank B, and $40,000 in customer payments in the form of money orders. Assuming no other differences between the company books and the bank balances what cash amount should the company report on its 2020 balance sheet?
option
QUESTION O 255000
295000
255000
a gain of 1000 on this trasaction
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Financial Accounting Reporting Analysis And Decision Making
Authors: Shirley Carlon, Rosina Mcalpine, Chrisann Lee, Lorena Mitrione, Ngaire Kirk, Lily Wong
7th Edition
0730395294, 978-0730395294
