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Delta Automotive Corporation has the following assets listed in its 12/31/2024 trial balance: Cash in bankchecking account $ 22,500 U.S. Treasury bills (mature in 60
Delta Automotive Corporation has the following assets listed in its 12/31/2024 trial balance:
Cash in bankchecking account | $ 22,500 |
---|---|
U.S. Treasury bills (mature in 60 days)* | 5,000 |
Cash on hand (currency and coins) | 1,350 |
U.S. Treasury bills (mature in six months)* | 10,000 |
Undeposited customer checks | 1,840 |
*Purchased on 11/30/2024
Required:
- Determine the correct balance of cash and cash equivalents to be reported in the current asset section of the 2024 balance sheet.
- For each of the items not included in your answer to requirement 1, select the correct classification of the item.
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