A Company provided the following information at year-end comprising the cash account: Cash in bank – demand deposit account5,000,000Money order50,000Cash on hand400,000Manager check100,000Postage stamps unused5,000Traveler check1,000,000Certificate of time deposit with 3-mo. Maturity1,500,000Post-dated customer check500,000 What total amount should be reported as “cash” at year-end?

Cash and cash equivalents consist of - Cash in hand cash at bank travelers check managers check…

Answered: A Company provided the following…

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 7E

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A Company provided the following information at year-end comprising the cash account:

Cash in bank – demand deposit account	5,000,000	Money order	50,000
Cash on hand	400,000	Manager check	100,000
Postage stamps unused	5,000	Traveler check	1,000,000
Certificate of time deposit with 3-mo. Maturity	1,500,000	Post-dated customer check	500,000

What total amount should be reported as “cash” at year-end?

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