Cash and cash equivalents balance

Assignment Help Financial Management

Reference no: EM131489024

A new accountant at Marin 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. $54 of currency and coin in a locked box used for incidental cash transactions.

2. A $10,300 U.S. Treasury bill, due May 31, 2017.

3. $260 of April-dated checks that Marin has received from customers but not yet deposited.

4. An $80 check received from a customer in payment of its April account, but postdated to May 1.

5. $2,880 in the company’s checking account.

6. $5,730 in its savings account.

7. $54 of prepaid postage in its postage meter.

8. A $24 IOU from the company receptionist.

(a) What balance should Marin report as its “Cash and cash equivalents” balance at April 30, 2017?

Reference no: EM131489024

Questions Cloud

Actual sales growth exceeds its sustainable rate of growth : Which of the following actions might a firm take if its actual sales growth exceeds its sustainable rate of growth?

Statements about capital budgeting cash flows : Which of the following statements about capital budgeting cash flows is false?

What was the firm operating cash flow or ocf : What was the firm’s 2015 operating cash flow, or OCF?

Find the apr or stated rate for an effective rate : Find the APR, or stated rate, for an effective rate (EAR) of 12.7 percent compounded continuously.

Cash and cash equivalents balance : What balance should Marin report as its “Cash and cash equivalents” balance at April 30, 2017?

The administrator of nonprofit community hospital : Imagine that you are the administrator of a nonprofit community hospital.

At what interest rate would this be a fair deal : At what interest rate would this be a fair deal?

You are faced with the last days of a computer conversion : You are faced with the last days of computer conversion and you are receiving calls that people have paid their bills, yet were not being credited for payments.

How much will you pay for policy : how much will you pay for the policy?

User Account

All Pages