Novak Enterprises owns the following assets at December 31, 2025. Cash in bank-savings account $67,800 Checking...

Transcribed Image Text:

Novak Enterprises owns the following assets at December 31, 2025. Cash in bank-savings account $67,800 Checking account balance $22,500 Cash on hand 8,710 Postdated checks 850 Cash refund due from IRS 33,800 Certificates of deposit (180-day) 94,980 What amount should be reported as cash? Cash to be reported $ Novak Enterprises owns the following assets at December 31, 2025. Cash in bank-savings account $67,800 Checking account balance $22,500 Cash on hand 8,710 Postdated checks 850 Cash refund due from IRS 33,800 Certificates of deposit (180-day) 94,980 What amount should be reported as cash? Cash to be reported $

Answer rating: 100% (QA)

To determine the amount of cash to be reported we need to consider the nature of each i... View the full answer