Reporting Cash on the Balance Sheet 1.

Reporting Cash on the Balance Sheet 1.

1. Indicate how each of the following items below should be reported using the following classifications: (a)cash,(b)restricted cash,(c)temporary investment,(d) receivable,(e) liability, or(f)office supplies.

(1) Checking account at First Security	$ (20)
(2) Checking account at Second Security	350
(3) US savings bonds	650
(4) Payroll account	100
(5) Sales tax account	150
(6) Foreign bank account—restricted (in equivalent US dollars)	750
(7) Postage stamps	22
(8) Employee’s postdated check	30
(9) IOU from president’s brother	75
(10) Credit memo from a vendor for a purchase return	87
(11) Traveler’s check	50
(12) Not-sufficient-funds check	18
(13) Petty cash fund ($16 in currency and expense receipts for $84)	100
(14) Money order	36

2. What amount would be reported as unrestricted cash on the balance sheet?

Is this the question you were looking for? If so, place your order here to get started!