QUESTION 3: The following balances were reported at year-end by Company A: Cash in bank $40,000, Cash on hand $600; Treasury bills with maturity of 2 months $5,400; Travel advances $2,500. In the statement of financial position of Company A, how much should reported as "Cash and cash equivalent" ? a. $46,000. b. $40,600. c. $48,500. d. $43,100.
QUESTION 3: The following balances were reported at year-end by Company A: Cash in bank $40,000, Cash on hand $600; Treasury bills with maturity of 2 months $5,400; Travel advances $2,500. In the statement of financial position of Company A, how much should reported as "Cash and cash equivalent" ? a. $46,000. b. $40,600. c. $48,500. d. $43,100.
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 6.2E
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