FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Blossom Enterprises Inc. has the following account balances at December 31, 2022: Cash in bank savings account $69,870 Cash on hand 15,140 Cash refund due

Blossom Enterprises Inc. has the following account balances at December 31, 2022:

Cash in bank savings account $69,870
Cash on hand 15,140
Cash refund due re: overpayment of income tax 32,050
Chequing account balance 20,910
Postdated cheques from Yu Corporation 470
Guaranteed investment certificate (180 days to maturity) 91,800
Credit card balance owed by Blossom 5,100

What amount should Blossom report as cash and cash equivalents at December 31?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Art Of Auditing Uncovering Core Principles Of Audit Profession

The Art Of Auditing Uncovering Core Principles Of Audit Profession

Authors: Ignatius Ravi

1st Edition

B0CC7FFYP6, 979-8852090959

More Books

Students also viewed these Accounting questions

Question

★★★★★
Construct a histogram and an ogive for the data in exercise 12. Data in exercise 12. Frequency 10 10-19 20-29 30-39 49 50-59 17

Answered: 1 week ago

Question

★★★★★
Beyond this immediate issue, how will you help students think more critically about the topics they are learning?

Answered: 1 week ago

Question

★★★★★
Alliance Manufacturing Company is considering the purchase of a new automated drill press to replace an older one. The machine now in operation has a book value of zero and a salvage value of zero....

Answered: 1 week ago

Question

★★★★★
In networking, what does IP stand for? a ) Internet Protocol b ) Internet Process c ) Interface Program d ) Internet Procedure

Answered: 1 week ago

Question

★★★★★
Let AH} he the area of a circle 1with radius t], at time t in min. Suppose the radius is changing Jr at the rate of E = 3 tttrhin. Find the rate of change at the area at the moment in time when r =...

Answered: 1 week ago

Question

★★★★★
Catch a Wave Company manufactures surfboards. Its standard cost information follows: Catch a Wave has the following actual results for the month of June: Required: Calculate the following for Catch a...

Answered: 1 week ago

Question

★★★★★
Messers Up-to-date Ltd. has instructed you to prepare a cash budget for October to December from the following particulars: (i) Cash and bank balance as on October 1, 20,000. (ii) Actual and budgeted...

Answered: 1 week ago

Question

★★★★★
A CARE warehouse in Tegucigalpa, Honduras holds a variety of humanitarian inventory items such as tents, blankets, kitchen utensils, canned food, pallets of water bottles, and medical kits. Over...

Answered: 1 week ago

Question

★★★★★
Repeat Problem 92 for a diverging mirror. Comment on any similarities or differences with the two types of mirrors. Data from Problem 92 A converging mirror has a focal length of \(300...

Answered: 1 week ago

Question

★★★★★
A compound microscope consists of two converging lenses, the objective lens and the eyepiece lens, positioned on a common optical axis (Figure 33.47). The objective lens is positioned to form a real,...

Answered: 1 week ago

Question

★★★★★
The text describes four conflict resolution styles: accommodating, avoiding, forcing, and collaborating. Which style is Travis more likely to exercise given his personality and ambition?

Answered: 1 week ago

Question

★★★★★
Which of the five contingency leadership theories (Exhibit 7.5) do you prefer?

Answered: 1 week ago

Question

★★★★★
Explain why some have described Travis Kalanick as emotionally unintelligent. Cite some examples to support your answer.

Answered: 1 week ago

Previous Question Next Question