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Question 1. (10 Marks) Preston Inc. has the following items at year-end Cash in saving and check accounts at the HSBC bank 95,700 Petty
Question 1. (10 Marks) Preston Inc. has the following items at year-end Cash in saving and check accounts at the HSBC bank 95,700 Petty cash 500 Commercial paper with maturity of 150 days 9,500 Certificate of Deposit with maturity of 60 days 8,500 Bank overdraft in a check account at the HSBC bank 3,000 Postdated checks from customers 2,800 Advances to executives 5,200 Instruction: Compute the amount of cash to be reported in the statement of financial position at year-end.
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