Flint Corp. reported the following items on its June 30, 2020 trial balance and on its comparative trial balance one year earlier: June 30, June 30, 2020 2019 Cash in bank $12,050 $9,770 Petty cash 680 540 Investment in shares of GTT Ltd. (to be sold within 60 days) 7,000 -0- Investment in Canada 60-day treasury bills 20,400 -0- Accounts payable 66,505 69,310 Temporary bank overdraft, chequing account 13,000 1,300 Determine the June 30, 2020 cash and cash equivalents amount for the 2020 statement of cash flows, and calculate the change in cash and cash equivalents since June 30, 2019. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Cash and Cash Equivalents 2$ Net Increase/(Decrease)

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Flint Corp. reported the following items on its June 30, 2020 trial balance and on its comparative trial balance one year earlier:
June 30,
June 30,
2020
2019
Cash in bank
$12,050
$9,770
Petty cash
680
540
Investment in shares of GTT Ltd. (to be sold within 60 days)
7,000
-0-
Investment in Canada 60-day treasury bills
20,400
-0-
Accounts payable
66,505
69,310
Temporary bank overdraft, chequing account
13,000
1,300
Determine the June 30, 2020 cash and cash equivalents amount for the 2020 statement of cash flows, and calculate the change in cash
and cash equivalents since June 30, 2019. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or
parentheses e.g. (45).)
Cash and Cash Equivalents
24
Net Increase/(Decrease)
$
Transcribed Image Text:Flint Corp. reported the following items on its June 30, 2020 trial balance and on its comparative trial balance one year earlier: June 30, June 30, 2020 2019 Cash in bank $12,050 $9,770 Petty cash 680 540 Investment in shares of GTT Ltd. (to be sold within 60 days) 7,000 -0- Investment in Canada 60-day treasury bills 20,400 -0- Accounts payable 66,505 69,310 Temporary bank overdraft, chequing account 13,000 1,300 Determine the June 30, 2020 cash and cash equivalents amount for the 2020 statement of cash flows, and calculate the change in cash and cash equivalents since June 30, 2019. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Cash and Cash Equivalents 24 Net Increase/(Decrease) $
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