Specter Company combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported on the year-end balance sheet for cash and cash equivalents. • $13,000 cash deposit in checking account. • $40,000 bond investment due in 20 years. $10,000 U.S. Treasury bill due in 1 month. $700, 3-year loan to an employee. • $3,000 of currency and coins. • $1,000 of accounts receivable. Included in Cash and Cash Equivalents Equivalents? Cash and Cash Amount Amount Checking account 24 13,000 Bond investment 40,000 U.S. Treasury bill 10,000 700 Loan to an employee Currency and coins 3,000 Accounts receivable 1,000 Total Cash and cash equivalents

Specter Company combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported on the year-end balance sheet for cash and cash equivalents. • $13,000 cash deposit in checking account. • $40,000 bond investment due in 20 years. $10,000 U.S. Treasury bill due in 1 month. $700, 3-year loan to an employee. • $3,000 of currency and coins. • $1,000 of accounts receivable. Included in Cash and Cash Equivalents Equivalents? Cash and Cash Amount Amount Checking account 24 13,000 Bond investment 40,000 U.S. Treasury bill 10,000 700 Loan to an employee Currency and coins 3,000 Accounts receivable 1,000 Total Cash and cash equivalents

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Description: Specter Company combines cash and cash equivalents on the balance sheet. Using the following information, determine the amountreported on the year-end balance sheet for cash and cash equivalents.$13,000 cash deposit in checking account.• $40,000 bon

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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