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How much should be reported as cash on december

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Reference no: EM132783807

Oust the Turtle Company had the following account balances on December 31, 2020:

Cash in bank A - rank and file payroll account 200,000

Cash in bank B - savings account 123,456

Cash in bank C - checking account 2,500,555

Cash in bank D - savings account 2,000

Cash in bank E - checking account 676,777

Cash in bank F - managerial payroll account 711,711

Cash in bank E was set aside for plant expansion planned to start on January 15, 2021. Cash in bank C was used on February 14, 2021 to buy land.

Problem 1: How much should be reported as cash on December 31, 2020?

Reference no: EM132783807

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