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Exercise 4-51 Components of Cash The office manager for Stony Company had accumulated the following information at the end of a recent year: Item Amount
Exercise 4-51 Components of Cash The office manager for Stony Company had accumulated the following information at the end of a recent year: Item Amount $22,470 Accounts receivable Change for cash registers (currency and coin) 4,800 Amount on deposit in checking account (bank balance) 7,382 Amount on deposit in savings account (bank balance) 30,000 Balance in petty cash 500 590 Checks received from customers, but not yet deposited in bank Checks sent by Stony to suppliers, but not yet presented at bank for payment 560 Deposits in transit 920 IOU from Richard Sandy, company president 10,000 13,400 Notes receivable NSF check written by Liam Company 430 Prepaid postage 125 Required: Calculate the total cash amount Stony will report on its balance sheet
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