One company had the following items in its “cash” account ad of december 31, 2022: Cash on handP150,000 Cash in abnk - unrestricted800,000 Cash restricted for additions to plant (to be disbursed in 2025)600,000 Bank certificates of deposit (acquired 12/25/2022; due in 4/1/2023)250,000 Cash in bank - to be used for payment of 2023 dividends300,000   How much should be reported as cash and cash equivalents as of December 31, 2022?

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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One company had the following items in its “cash” account ad of december 31, 2022:

Cash on handP150,000

Cash in abnk - unrestricted800,000

Cash restricted for additions to plant (to be disbursed in 2025)600,000

Bank certificates of deposit (acquired 12/25/2022; due in 4/1/2023)250,000

Cash in bank - to be used for payment of 2023 dividends300,000

 

How much should be reported as cash and cash equivalents as of December 31, 2022?

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