Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. specter company combines cash and cash equivalents

Specter Company combines cash and cash equivalents on the balance sheet. Using the following information,...

60.1K

Verified Solution

Question

Accounting

Specter Company combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported on the year-end balance sheet for cash and cash equivalents.
$7,000 cash deposit in chequing account.
$28,000 bond investment due in 20 years.
$7,000 U.S. Treasury bill due in 1 month.
$400,3-year loan to an employee.
$1,800 of currency and coins.
$700 of accounts receivable.
\table[[,Amount,\table[[Included in],[Cash and],[Cash],[Equivalents?]],\table[[Cash and],[Cash],[Equivalents],[Amount]]],[Chequing account,$,000,,],[Bond investment,28,000,,],[U.S. Treasury bill,7,000,,],[Loan to an employee,400,,],[Currency and coins,1,800,,],[Accounts receivable,700,,],[Total Cash and cash equivalents,,,]]
Total Cash and cash equivalents
1 of 4
Next
34C Partly cloudy
image

Answer & Explanation Solved by verified expert
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