A new accountant at Oriole 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, 2022. 1. 2. 3. 4. 5. 6. 7. 8. (a) $70 of currency and coin in a locked box used for incidental cash transactions. A $10,000 U.S. Treasury bill, due May 31, 2022. $290 of checks that Wyne has received from customers but not yet deposited. An $91 check received from a customer in payment of its April account, but postdated to May 1. $3,300 in the company's checking account. $5,100 in its savings account. $84 of prepaid postage in its postage meter. A $44 IOU from the company receptionist. What balance should Oriole report as its "Cash and cash equivalents" balance at April 30, 2022? Cash and cash equivalents balance $

A new accountant at Oriole 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, 2022. 1. 2. 3. 4. 5. 6. 7. 8. (a) $70 of currency and coin in a locked box used for incidental cash transactions. A $10,000 U.S. Treasury bill, due May 31, 2022. $290 of checks that Wyne has received from customers but not yet deposited. An $91 check received from a customer in payment of its April account, but postdated to May 1. $3,300 in the company's checking account. $5,100 in its savings account. $84 of prepaid postage in its postage meter. A $44 IOU from the company receptionist. What balance should Oriole report as its "Cash and cash equivalents" balance at April 30, 2022? Cash and cash equivalents balance $

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A new accountant at Bramble 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, 2022. 1. 2. 3. 4. 5. 6. 7. 8. $65 of currency and coin in a locked box used for incidental cash transactions. A $13,700 U.S. Treasury bill, due May 31, 2022. $250 of checks that Wyne has received from customers but not yet deposited. An $84 check received from a customer in payment of its April account, but postdated to May 1. $2,600 in the company's checking account. $5,000 in its savings account. $85 of prepaid postage in its postage meter. A $39 IOU from the company receptionist. (a) What balance should Bramble report as its "Cash and cash equivalents" balance at April 30, 2022? Cash and cash equivalents balance $
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Bank Reconciliation and Adjusting Entries (Appendix 6.1) Odum Corporation’s cash account showed a balance of $17,198 on March 31, 2019. The bank statement balance for the same date indicated a balance of $17,924.55. The following additional information is available concerning Odum’s cash balance on March 31: • Undeposited cash on hand on March 31 amounted to $724.50. • A customer’s NSF check for $173.80 was returned with the bank statement. • A note for $2,000 plus interest of $25 was collected for Odum by the bank during March. The bank notified Odum of this collection on the bank statement. • The bank service charge for March was $15. • A deposit of $951.75 mailed to the bank on March 31 did not appear on the bank statement. The following checks mailed to creditors had not been processed by the bank on March 31: #429 $57.40 #432 $147.50 #433 $214.80 #434 $191.90 A customer check for $149.50 in payment of his account and listed correctly for that amount on the bank state-ment had…
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