Delta Automotive Corporation has the following assets listed in its 12/312021 trial balance: Cash in...
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Delta Automotive Corporation has the following assets listed in its 12/312021 trial balance: Cash in bank-checking account U.S. Treasury bills (mature in 60 days) Cash on hand (currency and coins) U.S. Treasury bills (mature in six months) Undeposited customer checks "Purchased on 11/30/21 $27,500 5,000 1,850 15,000 2,340 I Required: 1. Determine the correct balance of cash and cash equivalents to be reported in the current asset section of the 2021 balance sheet. Cash and cash equivalents includes: Total
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