contestada

The following are held by Smite Co.:Cash in checking account $20,000Cash in bond sinking fund account 30,000Postdated check from customer dated one month from balance sheet date 250Petty cash 200Commercial paper (matures in two months) 7,000Certificate of deposit (matures in six months 5,000What amount should be reported as cash and cash equivalents on Smite’s balance sheet?​A. $27,200B. $27,450C. $32,200D. $57,200

Respuesta :

Answer:

A. $27,200

Explanation:

The computation of the cash and cash equivalents reported is shown below:

= Cash in checking account + Petty cash + Commercial paper

= $20,000 + $200 + $7,000

= $27,200

We only added these three items which are shown above as they include cash related items

All other information which is given is not relevant. Hence, ignored it

ACCESS MORE
ACCESS MORE
ACCESS MORE
ACCESS MORE

Otras preguntas