I have the correct answer. I just need to know how to get it.
Statement of cash and cash equivalents :-
Particulars | Amount ($) |
Cash is checking account | 10000 |
Petty cash | 580 |
3-month certificate of deposit | 35000 |
Check from them customer dated dec15, this year | 175 |
Undeposited cashier's checks from customer | 729 |
2-month high grade Canada government security purchased 1 month ago | 1000 |
Cash in savings account | 100 |
1-month U.S Treasury bill purchased 2 weeks ago | 2000 |
Time deposits | 1600 |
Total cash and cash equivalents | $51,184 |
Note:-
Cash and cash equivalents doesn't include
1. Postage stamps, IOU from customer, account receivables and post dated checks.
2. Certificate of deposits, T-bills, other short-term instruments with a maximum maturity period of 3 months (90 days).
Therefore correct option is C
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I have the correct answer. I just need to know how to get it. Question 50...
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