Question
The following information is available for Birch Company atDecember 31: Money market fund balance $2,790 Certificate of deposit maturingJune 30 of next year $10,000 Postdated
The following information is available for Birch Company atDecember 31:
| Money market fund balance | $2,790 |
| Certificate of deposit maturingJune 30 of next year | $10,000 |
| Postdated checks fromcustomers | $1,475 |
| Cash in bank account | $21,430 |
| NSF checks from customersreturned by bank | $650 |
| Cash in petty cash fund | $200 |
| Inventory of postage stamps | $24 |
| U.S. Treasury bill purchased onDecember 15 and maturing on February 28 of following year | $5,000 |
Based on this information, Birch Company should report Cash andCash Equivalents on December 31 of:
a. $39,420
b. $38,770
c. $41,345
d. $31,345
e. $29,420
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Fundamental financial accounting concepts
Authors: Thomas P. Edmonds, Frances M. Mcnair, Philip R. Olds, Edward
8th edition
978-007802536, 9780077648831, 0078025362, 77648838, 978-0078025365
