Question
Cashmere Soap Corporation had the following items listed in its trial balance at 12/31/2021: Currency and coins $ 590 Balance in checking account 2,500 Customer
Currency and coins | $ | 590 | |
Balance in checking account | 2,500 | ||
Customer checks waiting to be deposited | 1,400 | ||
Treasury bills, purchased on 11/1/2021, mature on 4/30/2022 | 2,800 | ||
Marketable equity securities | 9,900 | ||
Commercial paper, purchased on 11/1/2021, mature on 1/30/2022 | 6,000 | ||
What amount will Cashmere Soap include in its year-end balance sheet as cash and cash equivalents?
A. 13,290
B. 7,290
C. 10,490
D. 23,190
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
16th edition
1118742974, 978-1118743201, 1118743202, 978-1118742976
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