Hamilton Company has cash in bank of $10,000, restricted cash in a separate account of $3,000, and a bank overdraft in an account at another bank of $1,000. Hamilton should report cash of

Name: Hamilton Company has cash in bank of $10,000, restricted cash in a separate account of $3,000, and a bank overdraft in an account at another bank of $1,000. Hamilton should report cash of
Brand: Quizplus
Rating: 5.0 (49 reviews)

Question

Quizplus · Accepted Answer

Cash in bank is $10,000. Restricted cash and bank overdrafts are reported separately, not included in the cash balance.

Hamilton Company Has Cash in Bank of $10,000, Restricted Cash