Question
Reporting Cash Jenkins Company has the following items at year-end. Currency and coin in safe. $22,000 Funds in savings account (requires $3,000 compensating balance) 61,000
Reporting Cash Jenkins Company has the following items at year-end.
| Currency and coin in safe. | $22,000 |
| Funds in savings account | |
| (requires $3,000 compensating balance) | 61,000 |
| Funds in checking account | 7,000 |
| Traveler's checks | 6,000 |
| Postdated check | 9,000 |
| Not-sufficient-funds check | 1,800 |
| Money market fund | 50,400 |
Required Identify the amount of the above items that should be reported as cash and cash equivalents on Jenkins Company's balance sheet.
Cash and Cash Equivalents = $Answer
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Taxation Of Individuals And Business Entities 2015
Authors: Brian Spilker, Benjamin Ayers, John Robinson, Edmund Outslay, Ronald Worsham, John Barrick, Connie Weaver
6th Edition
978-1259206955, 1259206955, 77862368, 978-0077862367
