Question: Green Tree Inc. has divisons in serveral cities and has cash in serval bank accounts. Its accounting records at the end of 2020 showed the
Green Tree Inc. has divisons in serveral cities and has cash in serval bank accounts. Its accounting records at the end of 2020 showed the following information: cash on hand at home office, $20,000; cash equivalents, $30,000; cash in bank A, $40,000; cash on hand in city A, $5,500; cash in bank B, $25,000; and long-term investments $365,000. What would be the total cash balance reported by the company at the end of 2020?
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
