As of December 31, 2015, Valley Company has $15,420 cash in its checking account

Question

As of December 31, 2015, Valley Company has $15,420 cash in its checking account, as well as several other items listed below:

  

What amount should be shown in Valley's December 31, 2015, balance sheet as "Cash and cash equivalents"?

A.$81,360.

B.$133,360.

C.$117,940.

D.$65,940.

  Bank credit card slips signed by customers $1,300   Money market fund balance $23,000   Investment in U.S. Treasury bills,mature within 90 days $40,000   Checks received from customers, but not yet deposited in the bank $1,640   Investment in ATT 10% bonds, maturing June 2016 $52,000

Explanation / Answer

Cash and cash equivalents Bank credit card slips signed by customers 1300 Money market fund balance 23000 Investment in US Treasury bills, matured within 90 days 40000 Checks received from customers, but not yet deposited in the bank 1640 Cash and cash equivalents 65940 Hence option D is correct

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