Reference no: EM133116359
Question - When the accountant of Ivanhoe Company prepared the bank reconciliation on May 31, 2021, there were three outstanding cheques: #690 for $293, #693 for $163, and #694 for $253. There were no deposits in transit as at May 31, 2021. The bank balance at May 31 was $17,612. The balance in the Cash account on the May 31, 2021, adjusted trial balance was $16,903. The following is selected information from the June bank statement:
Prior to the financial recession in the late 2000s, some companies had built up significant cash balances. By 2010, discussions began about whether "cash hoarding" by firms was an appropriate activity or if it was hurting the economic recovery. Research this issue and answer the following questions:
What are the advantages of having a large cash balance? Please describe and provide examples.
What are the disadvantages of having a large cash balance? Please describe and provide examples.
Research a publicly traded company that holds a sizable amounts of cash and liquid investments on their balance sheets. Describe the company, the balance and how that balance has varied over the past three years.
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What are the advantages of having a large cash balance
: The balance in the Cash account on the May 31, 2021, adjusted trial balance was $16,903. What are the advantages of having a large cash balance
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