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kykrilka [37]
3 years ago
15

The company has $10,000 in its checking account, $20,000 in its savings account, $1,000 in petty cash, $25,000 in one-year treas

ury bills, and $15,000 in a money market fund. what amount should be reported as cash and cash equivalents on the balance sheet?
Business
1 answer:
padilas [110]3 years ago
8 0
$71,000, because that is how much moneyz they have, total. And what is "petty cash"?
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Total assets 44900    

Less: Liablities 14,550

Total Owner's equity 30,350    

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Add: Drawings 7,500    

Less: Revenues 8,850

Expense  1,670

Assets   =Liabilities +Owner's-Drawings+Revenues-Expense capital

               44,900 = 14,550 + 30,670- 7,500 + 8,850 - 1,670
2. Jacob states a profit of $7,180

Net Income = Revenues – Expenses
= 8850–1670 = 7180

  • Equipment, real estate, raw materials, and inventories are examples of tangible assets. Intangible assets include things like royalties, patents, and other intellectual property.
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