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As of December 31, 2018, Valley Company has $17,020 cash in its checking account

ID: 2581834 • Letter: A

Question

As of December 31, 2018, Valley Company has $17,020 cash in its checking account, as well as several other items isted below: Bank credit card slips signed by customers Money market fund balance Investment in U.S. Treasury bills, mature within 90 days Checks received from customers, but not yet deposited in the bank 1,480 Investment in ATT 10% bonds, maturing June 2019 $ 1,100 $15,000 $40,000 3.33 points Skipped $44,000 Print What amount should be shown in Valley's December 31, 2018, balance sheet as "Cash and cash equivalents"?

Explanation / Answer

Amount to be shown as "Cash and cash equivalents" = 17020+1100+15000+40000+1480= 74600

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