A new accountant at Sheridan Ltée is trying to identify which of the following amounts should...

A new accountant at Sheridan Ltée is trying to identify which of the following amounts should be reported as cash and cash equivalents in the April 30 year-end statement of financial position:

1.		Currency and coin totalling $112 in a locked box used for incidental cash transactions.
2.		A balance of $3,982 in the Royal Bank chequing account.
3.		A balance of $4,600 in the Royal Bank savings account.
4.		A $23,000 government treasury bill, due the next month, May 31.
5.		April-dated cheques worth $690 that Sheridan has received from customers but not yet deposited.
6.		A $174 cheque received from a customer in payment of its April account, but postdated to May 1.
7.		Over-the-counter receipts for April 30 consisting of $1,600 of currency and coin and $1,130 of cheques from customers, which were processed by the bank on May 1.
8.		A $46 IOU from the company receptionist.
9.		Cash register floats of $460.

What amount should Sheridan report as its cash balance at April 30?

Cash balance

$enter the cash balance in dollars

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Item	Item	Remarks	Classification	Amount $
1	Coins & Currency	Cash		112.00
2	Balance in the Royal Bank checking account.	Cash		3,982.00
3	Balance in the Royal Bank checking account.	Cash		4,600.00
4	Government treasury bill, due the next month, May 31.	Cash		23,000.00
5	April-dated cheque received from customers but not yet deposited.	Cash		690.00
6	A $174 cheque received from a customer in payment of its April account, but postdated to May 1.	Non Cash	Account Receivable	-
7	Over-the-counter receipts for April 30 consisting of $1,600 of currency and coin	Cash		1,600.00
8	$1,130 of cheque from customers, which were processed by the bank on May 1.	Non Cash	Bank Reconciliation item	-
9	A $46 IOU from the company receptionist.	Non Cash	Note Receivable	-
10	Cash register floats of $460.	Cash		460.00
	Cash and cash equivalents to be reported at the April 30 year-end statement of financial position:			34,444.00

ekkarill92 answered 1 year ago

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