Cashmere Soap Corporation had the following items listed in its trial balance at 12/31/2021: Currency and coins $ 620 Balance in checking account 1,600 Customer checks waiting to be deposited 2,500 Treasury bills, purchased on 11/1/2021, mature on 4/30/2022 2,700 Marketable equity securities 10,600 Commercial paper, purchased on 11/1/2021, mature on 1/30/2022 5,900 What amount will Cashmere Soap include in its year-end balance sheet as cash and cash equivalents? 1.$7,420. 2.$10,620. 3.$23,920. 4.$13,320.

Question

Business

Cristofer

8 September, 08:14

Cashmere Soap Corporation had the following items listed in its trial balance at 12/31/2021: Currency and coins $ 620 Balance in checking account 1,600 Customer checks waiting to be deposited 2,500 Treasury bills, purchased on 11/1/2021, mature on 4/30/2022 2,700 Marketable equity securities 10,600 Commercial paper, purchased on 11/1/2021, mature on 1/30/2022 5,900 What amount will Cashmere Soap include in its year-end balance sheet as cash and cash equivalents? 1.$7,420. 2.$10,620. 3.$23,920. 4.$13,320.

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Nakita · Answer 1

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents is 2. $10,620.

Explanation:

Given:

Currency and coins = $620

Balance in checking account = $1,600

Customer checks waiting to be deposited = $2,500

Treasury bills = $2700

Marketable equity securities = $10,600

Commercial paper cost = $5900

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents = 620+1600+2500+5900

= $10,620

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents is $10,620.