Kraft Enterprises owns the following assets at December 31, 2017. Cash in bank - Savings Account $68,000 Cash on Hand $9,300 Cash refund due from IRS $31,400 Checking Account balance $17,000 Postdated checks $750 Certificates of deposit (180-day) $90,000 What amount should be reported as cash?

Kraft Enterprises owns the following assets at December 31, 2017. Cash in bank - Savings Account $68,000 Cash on Hand $9,300 Cash refund due from IRS $31,400 Checking Account balance $17,000 Postdated checks $750 Certificates of deposit (180-day) $90,000 What amount should be reported as cash?

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 23CE: Cash Receipts from Customers Singleton Inc. had accounts receivable of $22,150 at January 1, 2019,...

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Question

Kraft Enterprises owns the following assets at December 31, 2017.
Cash in bank - Savings Account
$68,000
Cash on Hand
$9,300
Cash refund due from IRS
$31,400
Checking Account balance
$17,000
Postdated checks
$750
Certificates of deposit (180-day)
What amount should be reported as cash?
$90,000

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