Kaniper Company has the following items at year-end: Kaniper should report cash and cash equivalents of

Question

Kaniper Company has the following items at year-end:  Kaniper should report cash and cash equivalents of

Quizplus · Accepted Answer

Cash and cash equivalents include cash on hand and in bank accounts, as well as highly liquid investments that are readily convertible to cash. In this case, the cash balance is $25,000 and the marketable securities balance is $10,800 ($8,500 + $2,300), for a total of $35,800 in cash and cash equivalents.

Kaniper Company Has the Following Items at Year-End: Kaniper