What amount should be reported as cash

Assignment Help Accounting Basics

Reference no: EM133207164

Accounting Questions -

Q1) In what accounts should the following items be classified?

a) Coins and currency.

b) U.S. Treasury (government) bonds.

c) Certificate of deposit.

d) Cash in a bank that is in receivership.

e) NSF check (returned with bank statement).

f) Deposit in foreign bank (exchangeability limited).

g) Postdated checks.

h) Cash to be used for retirement of long-term bonds.

i) Deposits in transit.

j) 100 shares of Dell stock (intention is to sell in one year or less).

k) Savings and checking accounts.

l) Petty cash.

m) Stamps.

n) Travel advances.

Q2) Wayne Enterprises owns the following assets at December 31, 2021

Cash in bank-savings account 68,000 Postdated checks 750

Cash on hand 9,300 Certificates of deposit (180-day) 90,000

Cash refund due from IRS 31,400

Checking account balance 17,000

What amount should be reported as cash?

Reference no: EM133207164

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