Solution-What is the total amount should be reported as cash

What is the total amount should be reported as cash

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Reference no: EM133136956

Question - Suga Corp. had a checkbook balance on December 31, 2021 of 10,000,000 and held the following items in the safe:

Check payable to Suga, dated January 4, 2021, included in the December 31 checkbook balance: 3,000,000

Check payable to Suga, deposited December 20 and included in the December 31 checkbook balance but returned by bank on December 30, stamped NSF. The check was redeposited on January 2, 2022 and cleared January 3, 2022: 1,000,000

Check drawn on Suga's account and payable to contractor, dated and recorded December 31 but not mailed until January 15, 2022: 1,500,000

Cash on hand - undeposited collections: 500,000

Change fund: 10,000

Time deposit for plant expansion: 1,000,000

Treasury bill: 2,500,000

Money market placement: 3,000,000

Postage stamps: 5,000

Required - What is the total amount should be reported as cash on December 31, 2021?

Reference no: EM133136956

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What is the total amount should be reported as cash : Check payable to Suga, dated January 4, 2021, included in the December 31 checkbook balance: 3,000,000. What is the total amount should be reported as cash

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What is the total amount should be reported as cash

Reference no: EM133136956

Reference no: EM133136956

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