Reporting Cash Tina Company has the following items at year-end.Currency and coin in safe.$4,100Funds in savings account (requires $2,500 compensating balance)26,540Funds in checking account6,750Traveler’s checks625Postdated check1,250Not-sufficient-funds check1,880Money market fund35,100 RequiredIdentify the amount of the above items that should be reported as cash and cash equivalents on Tina Company’s balance sheet. Cash and Cash Equivalents = $Answer

Cash and cash equivalents are those items in the balance sheet that are cash and can be readily…

Answered: Tina Company has the following items at…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23: Statement Of Cash Flows

Section: Chapter Questions

Problem 5CE

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Reporting Cash

Tina Company has the following items at year-end.

Currency and coin in safe.	$4,100
Funds in savings account
(requires $2,500 compensating balance)	26,540
Funds in checking account	6,750
Traveler’s checks	625
Postdated check	1,250
Not-sufficient-funds check	1,880
Money market fund	35,100

Required
Identify the amount of the above items that should be reported as cash and cash equivalents on Tina Company’s balance sheet.

Cash and Cash Equivalents = $Answer

Definition Definition Financial market that deals in securities or assets that are short-term in nature. The money market is responsible for keeping up the liquidity of the businesses and the organizations. These securities are usually held for a period of 12 months or less and are issued by institutions that require cash or funds for their short-term cash flow requirements. The money market is regulated by the federal government.

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