Bank Statements Provide Information About All of The Following Except
Bank Statements Provide Information About All of The Following Except
264,500
18.-19.(2 points) While checking the cash accounts of Denmark Company on December 31,2006, you find the following
information:
The correct cash in bank balance for Denmark on December 31,2006 is a. 6,540,000
d. 8040,000
20. Bank statements provide information about all of the following except
b. NSF checks
21. The cash account in the current asset section of the balance sheet for Heater Company showed a balance of 555,000. It was found to
What is the correct cash balance for Heater Company’s balance sheet? a. 404,000
22. The cash account in the current asset section of the December 31,2006 balance sheet of
Included in the cash in banks is a compensating balance of 750,000 against short term borrowing arrangements at December 31,2006.
What is the correct cash balance of King Company at December 31,2006? a. 2,280,000
23.Western Company reported a total cash and cash equivalent of 6,325,000 on December 31,2006, which includes the following
information:
a. two certificates of deposits, each totaling 500,000. These certificates of deposit have a maturity of 120
days.
Western Company has agreed to maintain a cash balance of 500,000 in one of its banks at all times to ensure future credit
How much is the correct amount of cash and cash equivalents that Western Company should report in its December 31,2006 balance
sheet?a. 2,600,000