Question

The following information pertains to Weber Company on December 31, 2019: Cash balance in checking account...

The following information pertains to Weber Company on December 31, 2019:

  • Cash balance in checking account with Third Bank............ $ 3,000
  • Cash accumulated in a bond sinking fund account that will be used

to pay off the bond in 5 years................................................ 15,000

  • Cash overdraft balance in checking account with Fifth Bank......................................................................... ……….        (3,500)
  • 60-day U.S. Treasury Bills...................................................... 1,300
  • Currency and coins in petty cash fund....................................... 200

Instructions:

Calculate the total amount that Weber Company should report as cash and cash equivalents in the current assets section of the balance sheet dated December 31, 2019. Show the detail of your calculation.

Current Assets:

Cash and cash equivalents      $ _________________     

Business   Accounting   
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