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Wilson Company had the following cash balance items listed in its trial balance at 12/31/2016:
-If Wilson reports under U.S.GAAP,its 12/31/2016 balance sheet would show what cash balance?

Question

Use the following to answer questions 
Wilson Company had the following cash balance items listed in its trial balance at 12/31/2016: 
-If Wilson reports under U.S.GAAP,its 12/31/2016 balance sheet would show what cash balance?

Quizplus · Accepted Answer

Since there are no indications of negative balances or overdrafts, the total cash balance listed in the trial balance should be used to prepare the balance sheet. Therefore, the cash balance would be $60,000.

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