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Singh Corporation has manufacturing facilities in several cities and has cash on hand at several locations, as well as in several bank accounts. The general
Singh Corporation has manufacturing facilities in several cities and has cash on hand at several locations, as well as in several bank accounts. The general ledger at the end of 2020 showed the following accounts:
Cash on handhome office | $ | 700 | Cash on handlocation C | $ | 140 | |
City Bankhome office | 50,300 | National Banklocation C | 930 | |||
Cash on handlocation A | 70 | Petty cash fund | 340 | |||
National Banklocation A | 2,650 | Credit Suisse3-month certificate of deposit | 6,400 | |||
Cash on handlocation B | 200 | FransaBank6-month certificate of deposit | 5,000 | |||
National Banklocation B | 765 | |||||
The bank balances given represent the current cash balances as reflected on the bank reconciliations.
Required:
What amount of cash and cash equivalents should be reported on the companys 2020 statement of financial position?
Amount of cash and cash equivalents -
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