Reporting Cash Tina Company has the following items at year-end. Currency and coin in safe. $4,100...

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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 (

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Answer 1

Answer #1

Answer:

Cash and Cash Equivalent = Currency and Coin in Safe + Funds in Savings Account + Funds in Checking Account + Traveler’s Checks + Money Market Fund – Compensating Balance
Cash and Cash Equivalent = $4,100 + $26,540 + $6,750 + $625 + $35,100 - $2,500
Cash and Cash Equivalent = $70,615

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Answer 2

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