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sweet-ann [11.9K]
4 years ago
7

The following information is available for Birch Company at December 31: Money market fund balance $ 2,910 Certificate of deposi

t maturing June 30 of next year $ 16,200 Postdated checks from customers $ 1,775 Cash in bank account $ 23,631 NSF checks from customers returned by bank $ 770 Cash in petty cash fund $ 320 Inventory of postage stamps $ 30 U.S. Treasury bill purchased on December 15 and maturing on February 28 of following year $ 11,200 Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of:
Business
1 answer:
Natali [406]4 years ago
3 0

Answer:

$38,061

Explanation:

Calculation for the Cash and Cash Equivalents on December 31

Money market fund balance $ 2,910

Cash in bank account $ 23,631

Cash in petty cash fund $ 320

Treasury bill purchased $11,200

Total=$38,061

Therefore Birch Company should report Cash and Cash Equivalents on December 31 of: $38,061

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