Substantive Tests of Cash 3119-16. Classification of CashFor each of the items listed in the table below, place an X in the columnindicating the correct classification for statement of financial positionpurposes. The first one is completed for you.Statement of Financial Position ClassificationCashSTCashEquivalent InvestmentsOtherChecking accountSavings accountRare coins kept for long-termspeculationPostdated checks receivedMoney orders receivedPetty cash fundTreasury bills purchased whentwo months remain in termCompensating balance for ashort-term loanSinking fund to retire a bond infive yearsCertificate of deposit (six-monthterm)Short-term investment inmarketable equitysecurities

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Description: Substantive Tests of Cash 3119-16. Classification of CashFor each of the items listed in the table below, place an X in the columnindicating the correct classification for statement of financial positionpurposes. The first one is completed for you.S

Cash : The liquid asset in the statement of financial position which includes the direct cash means…

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For each of the items listed in the table below, place an X in the column indicating the correct classification for statement of financial position purposes. The first one is completed for you.

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter6: Cash And Internal Control

Section: Chapter Questions

Problem 6.4MCP

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