Change in Cash and Cash Equivalents Himes Company's balance sheets as of December 31, 20-2 and...
Change in Cash and Cash Equivalents
Himes Company's balance sheets as of December 31, 20-2 and 20-1, showed the following with regard to cash and cash equivalents:
| 20-2 | 20-1 | |
| Cash | $71,900 | $50,000 |
| Government notes | 2,000 | 5,000 |
Compute the amount of change in cash and cash equivalents.
$
Indicate whether it represented an increase or a decrease.
Increase
Homework Answers
| 20-2 | 20-1 | |
| Cash | 71,900 | 50,000 |
| Government notes | 2,000 | 5,000 |
| Cash and cash equivalents | $73,900 | $55,000 |
Change in cash and cash equivalents = Cash and cash equivalents (20-2) - Cash and cash equivalents (20-1)
= 73,900-55,000
= $18,900
Change in Cash and cash equivalents represents increase.
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Change in Cash and Cash Equivalents
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