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E5-8 (Algo) Preparing a Balance Sheet [LO 5-5] Gatti Corporation reported the following balances at...

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Accounting

E5-8 (Algo) Preparing a Balance Sheet [LO 5-5] Gatti Corporation reported the following balances at June 30. Accounts Payable $ 170 Accounts Receivable 130 Accumulated DepreciationEquipment 74 Cash 22 Cash Equivalents 27 Common Stock 220 Deferred Revenue 52 Equipment 420 Notes Payable (long-term) 60 Notes Payable (short-term) 30 Petty Cash 20 Restricted Cash (short-term) 25 Retained Earnings 38 Required: What amount should be reported as Cash and Cash Equivalents? Prepare a classified balance sheet. Do not show the components that add up to your answer in requirement 1, but rather show only the line Cash and Cash Equivalents

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