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13-11-2019
Business

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The following information is available for Birch Company at December 31:Money market fund balance $ 2,920Certificate of deposit maturing June 30 of next year $ 16,300Postdated checks from customers $ 1,800Cash in bank account $ 23,731NSF checks from customers returned by bank $ 780Cash in petty cash fund $ 330Inventory of postage stamps $ 31U.S. Treasury bill purchased on December 15 and maturing on February 28 of following year $ 11,300Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of:a. $39,420b. $38,770c. $41,345d. $31,345e. $29,420

Respuesta :

andromache andromache

13-11-2019

Answer:

$38,281

Explanation:

The computation of the Cash and Cash Equivalents is shown below:

= Money market fund balance + Cash in bank account + Cash in petty cash fund + U.S. Treasury bill

= $2,920 + $23,731 + $330 + $11,300

= $38,281

This is the answer but the same is not provided in the given options. All other information which is given in the question is not relevant. Hence, ignored it

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