Littleton Corporation reports the following information:
$\begin{array}{ll}
\text { Balance in National Bank checking account } & \$ 13,002 \
\text { Certific ates of deposit } & 4,000 \
\text { Petty cash } & 100 \
\text { Cash on hand } & 2,580 \
\text { Employees' IOUs } & 226 \
\text { Balance in Society Bank checking account } & (300) \
\text { Customer's postdated check } & 168 \
\text { Balance in Peopless Savings and Loan savings account } & 9,000
\end{array}$ Required:
Compute the correct amount of cash that will appear as a current asset on Littleton Corporation's balance sheet.

Question

Littleton Corporation reports the following information:
 $\begin{array}{ll}
\text { Balance in National Bank checking account } & \$ 13,002 \
\text { Certific ates of deposit } & 4,000 \
\text { Petty cash } & 100 \
\text { Cash on hand } & 2,580 \
\text { Employees' IOUs } & 226 \
\text { Balance in Society Bank checking account } & (300) \
\text { Customer's postdated check } & 168 \
\text { Balance in Peopless Savings and Loan savings account } & 9,000
\end{array}$ Required:
Compute the correct amount of cash that will appear as a current asset on Littleton Corporation's balance sheet.

Quizplus · Accepted Answer

The Answer of Littleton Corporation reports the following information:
 $\begin{array}{ll}
\text { Balance in National Bank checking account } & \$ 13,002 \
\text { Certific ates of deposit } & 4,000 \
\text { Petty cash } & 100 \
\text { Cash on hand } & 2,580 \
\text { Employees' IOUs } & 226 \
\text { Balance in Society Bank checking account } & (300) \
\text { Customer's postdated check } & 168 \
\text { Balance in Peopless Savings and Loan savings account } & 9,000
\end{array}$ Required:
Compute the correct amount of cash that will appear as a current asset on Littleton Corporation's balance sheet.

Littleton Corporation Reports the Following Information Required: Compute the Correct Amount of Cash That Will Appear

Littleton Corporation Reports the Following Information Required:
Compute the Correct Amount of Cash That Will Appear