The amount of cash that should appear on the balance sheet is equal to the amount of cash on deposit, plus currency, coin, and customers' checks on hand, minus the balance of the Cash Over and Short account.

Question

Quizplus · Accepted Answer

The amount of cash on the balance sheet should include all cash on deposit, currency, coin, and customers' checks on hand, but the Cash Over and Short account is used to reconcile discrepancies and does not directly affect the cash balance reported on the balance sheet.

The Amount of Cash That Should Appear on the Balance