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The following information is available for Birch Company at December 31: Money market fund balance $ 2,810 Certificate of deposit maturing June 30 of next year $ 15,200 Postdated checks from customers $ 1,525 Cash in bank account $ 22,631 NSF checks from customers returned by bank $ 670 Cash in petty cash fund $ 220 Inventory of postage stamps $ 20 U.S. Treasury bill purchased on December 15 and maturing on February 28 of following year $ 10,200 Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of:

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Answer:

$35,861

Explanation:

Calculation for the Cash and Cash Equivalents on December 31 using this formula

Cash and Cash Equivalents = Money Market Fund Balance + Cash in Bank account + Cash in Petty Cash Fund + U.S. Treasury Bill

Let plug in the formula

Cash and Cash Equivalents = $2,810 + $22,631 + $220 + 10,200

Cash and Cash Equivalents = $35,861

Therefore the Cash and Cash Equivalents on December 31 will be $35,861

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