For each of the following, identify whether or not the amount should be included or excluded in
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Question:
For each of the following, identify whether or not the amount should be included or excluded in the balance sheet line, "Cash and cash equivalents" as at the company's June 30 year end.
Included/ Excluded | ||||||
a. | Cash in five cash registers | $1,000 | select an option ExcludedIncluded | |||
b. | Cheque received, post-dated for July 5 | 250 | select an option ExcludedIncluded | |||
c. | $US bank account ($CAD equivalent) | 10,000 | select an option ExcludedIncluded | |||
d. | 30-day GIC (Guaranteed Investment Certificate) | 60,000 | select an option ExcludedIncluded | |||
e. | Cheque returned NSF | 2,000 | select an option ExcludedIncluded | |||
f. | Income tax refund due, not yet received | 2,800 | select an option ExcludedIncluded | |||
g. | Savings account at First Imperial Bank | 95,000 | select an option ExcludedIncluded | |||
h. | Investment in shares intended to be held long-term | 35,000 | select an option ExcludedIncluded | |||
i. | Term deposit due in nine months | 4,000 | select an option ExcludedIncluded | |||
j. | Chequing account at First Imperial Bank | 42,990 | select an option ExcludedIncluded | |||
k. | Petty cash fund | 300 | select an option ExcludedIncluded |
Related Book For
Advanced Accounting
ISBN: 978-0077431808
10th edition
Authors: Joe Hoyle, Thomas Schaefer, Timothy Doupnik
Posted Date: