Sheridan Inc. owns these assets at the statement of financial position date: Cash in bank (savings account) $20,240 Cash on hand 1,540 Prepaid insurance 1,840 Cash in bank (chequing account) 12,880 Postdated cheques received from customers 920 (a) What amount should be reported as cash and cash equivalents in the statement of financial position?

Sheridan Inc. owns these assets at the statement of financial position date: Cash in bank (savings account) $20,240 Cash on hand 1,540 Prepaid insurance 1,840 Cash in bank (chequing account) 12,880 Postdated cheques received from customers 920 (a) What amount should be reported as cash and cash equivalents in the statement of financial position?

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

Chapter12: The Statement Of Cash Flows

Section: Chapter Questions

Problem 12.5E

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