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 $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![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 $](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fd3647098-4144-4feb-911d-a3d46a410200%2Fb8447b5b-83bf-4590-a68c-d61cacddff4a%2Fhoahs5r_processed.png&w=3840&q=75)
Transcribed Image Text: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 $
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