a edugen.wvileyp s.com Kimmel, Financial Accounting, Be CALCULATOR PRINTER VERSI

Question

a edugen.wvileyp s.com Kimmel, Financial Accounting, Be CALCULATOR PRINTER VERSION BACK NEXT Exercise 7-12 A new accountant at Wyne Inc. is trying to identify which of the amounts shown below should be reported as the current asset "Cash and cash equivalents" in the year-end balance sheet, as of April 30, 2017. 1. $60 of currency and coin in a locked box used for Incidental cash transactions. 2. A $10,000 U.S. Treasury bill, due May 31, 2017 3. $260 of April-dated checks tha 4. An $85 check received from a customer in payment of its April account, but S. $2,500 in the company's checking account. t Wyne has received from customers but not yet deposited. postdated to May 1. 6. $4,800 in its savings account. 7. $75 of prepaid postage in its postage meter 8. A $25 1oU from the company receptionist. (a) What balance should Wyne report as its "Cash and cash equivalents" balance at April 30, 20177 Cash and cash equivalents balance at April 30, 2017 LINK TO TEXT Question Attempts: Unlimited SAVE FOR LATER SUBMIT ANSWER 23 MacBook Air

Explanation / Answer

1) Currency 60 2) U.S Treasury Bill 10,000 3) April Checks 260 5( checking account 2,500 6) Saving account 4,800 total 17620 Cash and cash Equivalents $17,620

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