For each individual situation, determine the amount that should be reported as c

Question

For each individual situation, determine the amount that should be reported as cash.

1. Checking account balance $937,850; certificate of deposit $1,407,100; cash advance to subsidiary of $990,800; utility deposit paid to gas company $195.

Cash balance
$ For each individual situation, determine the amount that should be reported as cash. Checking account balance $937,850; certificate of deposit $1,407,100; cash advance to subsidiary of $990,800; utility deposit paid to gas company $195. Checking account balance $517,800; an overdraft in special checking account at same bank as normal checking account of $19,400; cash held in a bond sinking fund $210,100; petty cash fund $332; coins and currency on hand $1,400. Checking account balance $626,660; postdated check from a customer $13,510; cash restricted due to maintaining compensating balance requirement of $117,740; certified check from customer $8,820; postage stamps on hand $720. Checking account balance at bank $42,470; money market balance at mutual fund (has checking privileges) $52,590; NSF check received from customer $865. Checking account balance $701,210; cash restricted for future plant expansion $518,570; short-term Treasury bills $194,600; cash advance received from customer $936 (not included in checking account balance); cash advance of $7,320 to company executive, payable on demand; refundable deposit of $29,300 paid to federal government to guarantee performance on construction contract.

Explanation / Answer

Hi,

Please find the answer as follows:

Part 1:

=937850

Part 2:

= 517800 -19400 + 332 + 1400 = 500132

Part 3:

= 626660 + 8820 = 635480

Part 4:

= 42470 + 52590 = 95060

Part 5:

=701210 + 936 = 702146

Thanks.

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