The following information has been extracted from Atwood Corporation's accounting records: Cash on hand (undeposited sales receipts) $1,535 Certificates of deposit 25,000 Customer's note receivable 1,000 Reconciled balance in University National Bank checking account (350) Reconciled balance in Second National Bank checking account 9,260 Balance in City Federal savings account 7,410 Customer's postdated check 980 Employee travel advances 1,200 Cash in bond sinking fund 8,300 Bond sinking fund investments 14,600 Required: 1. Determine the balance in Atwood's Cash account. 2. Classify the balance sheet treatment for each item. If the item should be included in Cash, select "Cash" from the "Classification of Items" list. If not, select the correct choice to show how the item would be reported on the balance sheet. Included in Cash Item Balance Classification of Items 1. Cash on hand (undeposited sales receipts) 2. Certificates of deposit 3. Customer's note receivable 4. Reconciled balance in University Nabional Bank checking account 5. Reconciled balance in Second National Bank checking account 6. Balance in City Federal savings

The following information has been extracted from Atwood Corporation's accounting records: Cash on hand (undeposited sales receipts) $1,535 Certificates of deposit 25,000 Customer's note receivable 1,000 Reconciled balance in University National Bank checking account (350) Reconciled balance in Second National Bank checking account 9,260 Balance in City Federal savings account 7,410 Customer's postdated check 980 Employee travel advances 1,200 Cash in bond sinking fund 8,300 Bond sinking fund investments 14,600 Required: 1. Determine the balance in Atwood's Cash account. 2. Classify the balance sheet treatment for each item. If the item should be included in Cash, select "Cash" from the "Classification of Items" list. If not, select the correct choice to show how the item would be reported on the balance sheet. Included in Cash Item Balance Classification of Items 1. Cash on hand (undeposited sales receipts) 2. Certificates of deposit 3. Customer's note receivable 4. Reconciled balance in University Nabional Bank checking account 5. Reconciled balance in Second National Bank checking account 6. Balance in City Federal savings

Quickbooks Online Accounting

3rd Edition

ISBN:9780357391693

Author:Owen

Publisher:Owen

Chapter4: Operating Activities: Sales And Cash Receipts

Section: Chapter Questions

Problem 3.6C

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