Anew accountant at sage hill inc. is trying to identify which of the amounts shown below should be reported as the current asset “cash and cash equivalents” in the year-end balance sheet, as of april 30, 2017.
1. $80 of currency and coin in a locked box used for incidental cash transactions.
2. a $11,600 u. s. treasury bill, due may 31, 2017.
3. $325 of april-dated checks that sage hill has received from customers but not yet deposited.
4. an $80 check received from a customer in payment of its april account, but postdated to may 1.
5. $4,320 in the company’s checking account.
6. $7,070 in its savings account.
7. $52 of prepaid postage in its postage meter.
8. a $50 iou from the company receptionist.
what balance should sage hill report as its “cash and cash equivalents” balance at april 30, 2017?
Answers: 3
Business, 18.09.2019 16:30, 29delphina
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Business, 25.10.2019 00:43, victoriahuntley12148
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Business, 30.10.2019 20:31, jenn8055
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