The amount reported as “cash on hand” as of June 30 should bea. $105,000b. $55,000c. $75,000d. $180,000 Smart Corp. has supplied the following list of its bank accounts and cash as of its fiscal year-end June 30:Checking account (compensating balance of $12,000 with no$ 32,000restriction)Savings account, 5.25%Certificate of deposit, 6 months, 10%Money market (30-day certificate), current rate, 9.25%Payroll checking accountCertificate of deposit, 2 years, 12 %Petty cash20,00050,00025,0002,00050,0001,000$180,000

Name: The amount reported as “cash on hand” as of June 30 should bea. $105,0
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Description: The amount reported as “cash on hand” as of June 30 should bea. $105,000b. $55,000c. $75,000d. $180,000 Smart Corp. has supplied the following list of its bank accounts and cash as of its fiscal year-end June 30:Checking account (compensating balance

Cash on Hand Cash on hand is considered to be one of the important thing for the organisation to…

Answered: The amount reported as “cash on hand”…

Business

Accounting

The amount reported as “cash on hand” as of June 30 should be a. $105,000 b. $55,000 c. $75,000 d. $180,000

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter6: Bank Accounts, Cash Funds, And Internal Controls

Section: Chapter Questions

Problem 3E

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