Valley Corporation held the following items at 12/31/17: Currency and coins $5,850 Balance in checking account...
Valley Corporation held the following items at 12/31/17:
| Currency and coins | $5,850 |
| Balance in checking account | $23,400 |
| Customer checks waiting to be deposited | $10,800 |
| Treasury bills, purchased on 9/1/17, mature on 3/1/18 | $41,200 |
What amount will Valley include in its year-end balance sheet as “cash and cash equivalents"?
a. $23,400
b. $29,250
c. $40,050
d. $81,250
Homework Answers
Cash and cash equivalents
= Currency and coins + Balance in checking account + customer checks + treasury bills
= 5850+23400+10800+41200
= 81,250
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