Cash and Cash Equivalents: Cash is the category that includes currency, coins, and deposits in bank accounts. Cash Equivalent is the category which includes short term and highly liquid assets which are readily convertible into cash. Liquidity is the term used for company’s ability of payoff its liabilities. To Indicate: The definition of Cash and Cash Equivalents for Microsoft.

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Question 3 of 4 > -/2 View Policies Current Attempt in Progress Ouellette Ltée reports the following items: cash in bank $17,500; payroll bank account $6,000; cash register floats $500; and trading investments consisting of term deposits with maturity dates of less than 90 days $5,000. Determine which items described above would be considered cash, cash equivalents, or other items to be reported on the statement of financial position. Cash in bank Payroll bank account Cash register floats Trading investments eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer

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Chapter 4, Problem 68.2C

To determine

Concept Introduction:

Cash and Cash Equivalents:

Cash is the category that includes currency, coins, and deposits in bank accounts. Cash Equivalent is the category which includes short term and highly liquid assets which are readily convertible into cash. Liquidity is the term used for company’s ability of payoff its liabilities.

To Indicate:

The definition of Cash and Cash Equivalents for Microsoft.

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Question 3 of 4 > -/2 View Policies Current Attempt in Progress Ouellette Ltée reports the following items: cash in bank $17,500; payroll bank account $6,000; cash register floats $500; and trading investments consisting of term deposits with maturity dates of less than 90 days $5,000. Determine which items described above would be considered cash, cash equivalents, or other items to be reported on the statement of financial position. Cash in bank Payroll bank account Cash register floats Trading investments eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer

QUESTION 1 The summary of the bank column in the cash book of APINO Ltd. for the month ended October 31, 2020 is presented to you below; CASH BOOK Bal. b/d 11,000 Total Payments 54,000 Receipts 79,000 Bal. c/d 36,000 90,000 90,000 When the bank statement of the company was received on 31st October 2020, it showed a balance which differed from that of the cash book. Your investigation of the accounting records for the period reveals the following information. Bank charges of GH¢320 appear in the bank statement on 30th October 2020 but have not been recorded in the cash book. Cheques from a customer Papa Kay totaling GH¢2,890 entered in the cash book on 29th October, 2020 were credited by the bank on 2nd November, 2020. A cheque for GH¢ 1,000 entered in the cash book was yet to be submitted for payment by the payee. A cheque for GH¢12, 900 drawn by APINO Ltd. To pay for a new item of plant had been mistakenly entered…

310 Chapter 9 Statement of Financial Position Presentation: Cash and Other Related Items 9-15. Genius Company is preparing its 2016 financial statements; the accounting period ends December 31. The following items, related to cash, are under consideration. You have been asked to indicate how each item should be reported on the statement of financial position and to explain the basis for your responses. a. A P900 check received from a customer, dated February 1, 2017, is on hand. b. A customer's check was included in the December 20 deposit. It was returned by the bank stamped NSF. No entry has yet been made by Genius to reflect the return. c. A P20,000 note receivable on which P1,000 of interest accrued to December 31 has just been recorded by debiting interest receivable and crediting interest revenue. The chief accountant proposes to report the P20,000 as cash in bank. d. Genius has a P200 petty cash fund. As of December 31, the fund cashier reported expense vouchers covering various…