Lawson Corporation's checkbook balance on December 31,2014,was $8,000.In addition,Lawson held the following items in its safe on December 31: The proper amount to be shown as cash on Lawson's balance sheet at December 31,2014,is

Question

Lawson Corporation's checkbook balance on December 31,2014,was $8,000.In addition,Lawson held the following items in its safe on December 31:  The proper amount to be shown as cash on Lawson's balance sheet at December 31,2014,is

Quizplus · Accepted Answer

To determine the proper amount of cash to be shown on the balance sheet, we need to add together the checkbook balance with the items held in the safe on December 31.

$8,000 (checkbook balance) + $600 (currency in the safe) = $8,600

Therefore, the correct answer is choice C: $8,600.

Lawson Corporation's Checkbook Balance on December 31,2014,was $8,000