The following information is available for Montrose Company at December 31: Cash in bank account$8,540 Petty cash$250 Short-term investment$10,400 Checks from customers$1,350 Equipment$805 Treasury bill maturing in 60 days$10,000 Money orders$290 A three-year certificate of deposit maturing in three years$6,000 Based on this information, the amounts considered Cash and Cash Equivalents, respectively on December 31 are:
A. Cash $8,790; Cash equivalents $26,400
B. Cash $19,190; Cash equivalents $16,000
C. Cash $10,430; Cash equivalents $20,400
D. Cash $11,235; Cash equivalents $26,400
E. Cash $8,540; Cash equivalents $22,290
Answer: C
You might also like to view...
There is never any income tax when an individual surrenders his life insurance contract
Indicate whether the statement is true or false
Electronic signatures improve EC by helping to distinguish between legitimate and fraudulent transactions and build trust and predictability needed by parties doing business online
Indicate whether the statement is true or false
Which of the following are used to determine cash flows from financing activities?
A. Long-term debt, Notes Payable, Interest Expense, and Bonds Payable B. Short-term debt, Accrued Liabilities, Retained Earnings, and Bonds Payable C. Short-term debt, Accrued Liabilities, Common Stock, and Notes Payable D. Long-term debt, Common Stock, and Retained Earnings
Which of the following organizations would most likely use a process costing system?
A. Airplane manufacturer. B. Gasoline refinery. C. Public accounting firm. D. Automobile retailer.