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Crane Company has recorded the following items in its financial records. Cash in bank Cash in plant expansion fund Cash on hand Highly liquid investments
Crane Company has recorded the following items in its financial records. Cash in bank Cash in plant expansion fund Cash on hand Highly liquid investments Petty cash Receivables from customers $51,500 103,300 14,100 38,400 610 92,500 66,500 Stock investments The highly liquid investments had maturities of three monthsor less when they were purchased. The stock investments will be sold in the next six to 12 months. The plant expansion project will begin in three years. (a) What amount should Crane report as "Cash and cash equivalents" on its balance sheet? Cash and cash equivalents $
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