Based on the following information as of December 31:
$\begin{array}{lc}
\text { Postclated check } & \$ 700 \
\text { Employee travel advance } & 500 \
\text { Checking account balance } & 2,500 \
\text { Savings account balance } & 1,500 \
\text { Bank overdraft } & 400 \
\text { Certificates of deposit } & 600 \
\text { Cash on hand } & 2,000 \
\text { Petty cash fund } & 200 \
\text { Bank draft } & 1,000
\end{array}$ Required:
Compute the total amount that will appear for current assets on the December 31 balance sheet.

Question

Based on the following information as of December 31:
 $\begin{array}{lc}
\text { Postclated check } & \$ 700 \
\text { Employee travel advance } & 500 \
\text { Checking account balance } & 2,500 \
\text { Savings account balance } & 1,500 \
\text { Bank overdraft } & 400 \
\text { Certificates of deposit } & 600 \
\text { Cash on hand } & 2,000 \
\text { Petty cash fund } & 200 \
\text { Bank draft } & 1,000
\end{array}$ Required:
Compute the total amount that will appear for current assets on the December 31 balance sheet.

Quizplus · Accepted Answer

The Answer of Based on the following information as of December 31:
 $\begin{array}{lc}
\text { Postclated check } & \$ 700 \
\text { Employee travel advance } & 500 \
\text { Checking account balance } & 2,500 \
\text { Savings account balance } & 1,500 \
\text { Bank overdraft } & 400 \
\text { Certificates of deposit } & 600 \
\text { Cash on hand } & 2,000 \
\text { Petty cash fund } & 200 \
\text { Bank draft } & 1,000
\end{array}$ Required:
Compute the total amount that will appear for current assets on the December 31 balance sheet.

Based on the Following Information as of December 31 Required: Compute the Total Amount That Will Appear for Current

Based on the Following Information as of December 31 Required:
Compute the Total Amount That Will Appear for Current