ID Company had the following balances in December: MONEY MARKET FUND $2,790 CERTIFICATE OF DEPOSIT MATURITY JUNE 30 NEXT YEAR $15,000 POSTDATED CHECKS FROM CUSTOMERS
ID Company had the following balances in December:
MONEY MARKET FUND $2,790
CERTIFICATE OF DEPOSIT MATURITY JUNE 30 NEXT YEAR $15,000
POSTDATED CHECKS FROM CUSTOMERS $1,475
CASH IN BANK ACCOUNT $22,431
NSF CHECKS FROM CUSTOMERS RETRNED BY BANK $ 650
CASH IN PETTY CASH FUND $ 200
INVENTORY OF POSTAGE STAMPS $ 18
US TREASURY BILL PURCHASED12/15 & MATURING 2/28
FOLLOWING YEAR $10,000
Based on this information, ID Company should report Cash and Cash Equivalents on December 31 of:
| A. | $37,546 | |
| B. | $50,421 | |
| C. | $35,421 | |
| D. | $40,439
| |
| E. | $36,246 |
Please choose the correct answer.
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Authors: Wensheng Peng, Chang Shu
2nd Edition
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