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Reporting Cash Jenkins Company has the following items at year-end. $3,600 Currency and coin in safe. Funds in savings accoun

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Answer #1
Cash & cash equivalents
Particulars Amount ($)
Currency and coin in safe                         3,600
Add: Funds in saving account                       26,250
Add: Funds in checking account                         7,750
Add: Travelers checks                           600
Add: Mony market fund                       33,400
Sub-total                     71,600
Less: The compensating balance                       -2,000
The Cash & cash equivalents                    69,600
"Hence, the Cash & cash equivalents will be $69,600"
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