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Delta Automotive Corporation has the following assets listed in its 12/31/2021 trial balance: Cash in bankchecking account $ 30,500 U.S. Treasury bills (mature in 60
Delta Automotive Corporation has the following assets listed in its 12/31/2021 trial balance:
Cash in bankchecking account | $ | 30,500 | |
U.S. Treasury bills (mature in 60 days)* | 8,000 | ||
Cash on hand (currency and coins) | 2,150 | ||
U.S. Treasury bills (mature in six months)* | 18,000 | ||
Undeposited customer checks | 2,640 | ||
*Purchased on 11/30/21 Required: 1. Determine the correct balance of cash and cash equivalents to be reported in the current asset section of the 2021 balance sheet.
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