Consider the following: Cash in Bank - checking account of $18,500, Cash on hand of $500, Post-dated checks received totaling $3,500, and Certificates of deposit totaling $124,000. How much should be reported as cash in the balance sheet?

Question

Quizplus · Accepted Answer

The amount reported as cash in the balance sheet includes Cash in Bank - checking account ($18,500) and Cash on hand ($500), totaling $19,000. Post-dated checks and Certificates of deposit are not considered as cash for reporting purposes in the balance sheet.

Consider the Following: Cash in Bank - Checking Account of $18,500