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The following information is available for Birch Company at December 31: Money market fund balance $ 2,940 Certificate of deposit

The following information is available for Birch Company at December 31: Money market fund balance $ 2,940 Certificate of deposit maturing June 30 of next year $ 16,500 Postdated checks from customers $ 1,850 Cash in bank account $ 23,931 NSF checks from customers returned by bank $ 800 Cash in petty cash fund $ 350 Inventory of postage stamps $ 33 U. S. Treasury bill purchased on December 15 and maturing on February 28 of following year $ 11,500 Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of:
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3 Answers

M
Major Spinka DVM

Feb 20, 2025

the cash and cash equivalent is $38,721Explanation:The computation of the cash and cash equivalent is shown belowMoney market fund balance$2,940 Cash in Bank Account $23,931Cash in Petty cash funds $350U.S Treasury bill purchased on Dec.15 $11,500Total $38,721Hence, the  cash and cash equivalent is $38,721 The same is to be considered... Show More
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