Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. fauna inc has the following items at year-end: ca

Fauna Inc has the following items at year-end: Cash in First Bank                                                                  $15,000 Postdated checks                                                                         $450 Bank overdraft in checking account at Second Bank               $400 Savings...

80.2K

Verified Solution

Question

Accounting

  1. Fauna Inc has the following items at year-end:

Cash in FirstBank                                                                  $15,000

Postdatedchecks                                                                         $450

Bank overdraft in checking account atSecondBank               $400

Savings account balance at SecondBank                               $2,600

Treasury bills maturing in 2months                                      $2,500

Petty cash onhand                                                                      $600

Cash in Third Bank (bond sinkingfund)                                $7,500

Customer checks waiting to bedeposited                                 $650

Fauna should report cash and cash equivalents of

Answer & Explanation Solved by verified expert
4.1 Ratings (621 Votes)
Particluars Amount Action to be taken Cash in First Bank 15000 To be added in cash cash equivalents Postdated checks 450 To be    See Answer
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Finance
1.2K views

Marisa Gale, a 25-year-old personal loan officer at Second National Bank, understands the importance of starting...

Statistics
1.2K views

Question 1     Which of the following statements about the Chi Square statistic is NOT true? Chi Square...

Chemistry
1.2K views

A 240.0-mL sample of spring water was treated to convert any iron present to Fe2+. Addition...

Physics
1.2K views

A particle of mass M moves along a straight line with initial speed vi. A force...

Physics
1.2K views

4 The total emitted energy will increase to 8 times The density p versus pressure...

Basic Math
1.2K views

Show that AB and BA are not equal for the given matrices 1 A 4...

Algebra
1.2K views

5 Determine which sets are bases for R2 or R Justify each answer 5 CHE...

Accounting
1.2K views

Contribution Margin Harry Company sells 19,000 units at $31 per unit. Variable costs are $18.91...

Accounting
1.2K views

What would be a possible dependent variable in a regression determining "How do lenders set...

Accounting
1.2K views

Under IFRS, which of the following criteria is not necessary for a transfer of financial...

Finance
1.2K views

Now we will focus on Risk in a Portfolio Context. See Section 8-3. Match...

Finance
1.2K views

Suppose that Kittle Co. is a U.S. based MNC that is considering setting up a...