Money market fund balance Investment in Apple 8% bonds, maturing June 2014 Bank

Question

Money market fund balance Investment in Apple 8% bonds, maturing June 2014 Bank credit card slips signed by customers Investment in U.S. Treasury Bonds Checks received from customers but not yet deposited $12,000 50,000 1,500 20,000 2,000 As of December 31, 2013, Crenshaw Oasis has $16,500 cash in its checking account, as well as several other items listed below: What amount should be shown in Crenshaw's December 31, 2013, balance sheet as "cash and cash equivalents"? $32,000 $20,000 $102,000 $52,000

Explanation / Answer

Solution:

?Cash and cash equivalent means cash plus any risk free and highly liquid investments. In the given case study all the mentioned balences are highly liquid except Investment in Apple.

Therfore Cash and cash equivalent = 12000+1500+20000+2000+16500 = $52,000

?Thank You.. !

Please press the thumbs up button if it was helpful for you.

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.