Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. lori's company has the following items: cash in a

Lori's Company has the following items: cash in a checking account, $5,000; cash in a...

60.1K

Verified Solution

Question

Accounting

Lori's Company has the following items: cash in a checking account, $5,000; cash in a savings account, $8,000; high - grade government securities due in one month (purchased last month), $3,556; accounts receivable, $3,000. How much should appear as Cash and Cash Equivalents on the balance sheet?
A. $19,556
B. $16,556
C. $8,000
D. $16,000
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

An investor must choose between two bonds: Bond A pays $90 annual interest and has a...

Finance
Q

Which are the main goals of Operations Strategy? (12) List some examples of strategic decisions made...

Operations Management
Q

Who gave us the Calculus of Felicity? What is it used for? How many parts are there?...

Psychology
Q

Read the case and then answer the following questions. Surface tension The tech giant’s decision to make...

General Management
Q

Is the number of calories in a beer related to the number of carbohydrates? and/or the...

Basic Math
Q

2 Dynamically regulated actin polymerization is central to the changes in A flagella movement in...

Biology
Q

A store is having a sale on trail mix and jelly beans. For 3 pounds...

Basic Math
Q

A company that makes cartons finds that the probability of producing a carton with a...

Statistics
Q

Please calculate show work and explain in non excel manor :) Thanks! Can IIT...

Accounting
Q

Splish Corporation had net sales of $2,413,100 and interest revenue of $33,400 during 2020. Expenses...

Accounting
Q

Average guest check has increased from $12.50 to $14.00. Average operating income per guest has...

Accounting
Q

nternal Insights Inc., a developer of radiology equipment, has stock outstanding as follows: 70,000 shares...

Accounting