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Homework answers / question archive / Below is a list of various items

Below is a list of various items


Below is a list of various items. For each item, determine the amount that should be reported as cash or cash equivalent. For all other items, identify the proper disclosure

a. Chequing account balance $600,000

b. Short-term (60-day) treasury bills $22,000

c. Cash advance received from a customer $2,670

d. Cash advance of $5,000 to company executive, payable on demand

e. Refundable deposit of $13,000 paid to developer to guarantee performance on a construction contract

f. Cash restricted for future plant expansion $545,000

g. Certificate of deposit $575,000, maturing in nine months

h. Utility deposit paid to utility company $500

i. Cash advance to subsidiary $100,000

j. Post-dated cheque from customer $30,000

k. Cash restricted to maintain compensating balance requirement $115,000, considered to be significant

l. Certified cheque from customer $13,000

m. Postage stamps on hand $1,115

n. Savings account balance $545,000 and overdraft in special chequing account at same bank as normal chequing account $25,000

o. Cash held in non-current bond sinking fund $150,000

p. Petty cash fund $1,200

q. Cash on hand $13,000

r. Money-market balance at mutual fund with chequing privileges $75,400

s. NSF cheque received from the bank for a customer $8,000


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