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Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Item Cash or Cash

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Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Item Cash or Cash Equivalent? (yeso) 1. Currency 2. Inventory for sale to customers 3. Balance in savings account 4. Checks 5. Accounts receivable 6. Investments purchased with maturities of less than three months Below are several statements about occupational fraud. Required: Select whether the answer to each of the statements is true or false. Statements For most large companies, occupational fraud is minimal and internal control procedures are unnecessary. Managers have a variety of reasons for manipulating the numbers in financial statements, such as maximizing their compensation, increasing the company's stock price, and preserving their jobs. Internal control procedures include formal policies and procedures related to (1) safeguarding the company's assets and (2) improving the accuracy and reliability of accounting information. "Cooking the books" is a phrase used by accountants to indicate the preparation of financial statements that are free of manipulation. 5. Most occupational fraud cases involve misuse of the company's resources. Common types of financial statement fraud include creating fictitious 6. revenues from a fake customer, improperly valuing assets, hiding liabilities, and mismatching revenues and expenses. Currency located at the company Supplies Short-term investments that mature within three months Accounts receivable Balance in savings account Checks received from customers but not yet deposited Prepaid rent Coins located at the company Equipment Balance in checking account $1,050 3,200 1,950 3,500 8,500 650 1,450 110 9,400 6,200 Required: Calculate the amount of cash to report in the balance sheet. Total cash

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