Indicate whether or not each of the following ten items should be included in the cash balance
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Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Item Include in Cash Balance Classification of Items Excluded 1. NSF checks 2. Savings account 3. Postage stamps 4. Postdated checks 5. IOUs 6. Cash on hand 7. Cash in sinking fund 8. Travel advance 9. Bank draft 10. Traveler's checks
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Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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