Brown Industries has the following items: Currency ......................$20,000 Customer checks that have not been deposited ....... 500

Question:

Brown Industries has the following items:

Currency ......................$20,000

Customer checks that have not been deposited ....... 500

Cash in saving and checking accounts ............ 80,000

Certificates of deposits that originally matured in 18 months .... 25,000

U.S. government bonds that originally matured in 3 months ... 12,000

U.S. government bonds that originally matured in 12 months .. 18,000

Required:

How much should Brown report as cash and equivalents on its balance sheet?

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Cornerstones of Financial and Managerial Accounting

ISBN: 978-0324787351

1st Edition

Authors: Rich Jones, Mowen, Hansen, Heitger

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Question Posted: Jul 23, 2012 01:38 AM

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Brown Industries has the following items: Currency ......................$20,000 Customer checks that have not been deposited ....... 500

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Cash 20000 Customer checks pending deposit ...View the full answer

Cornerstones of Financial and Managerial Accounting

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