Question

The following information is available for Fenton Manufacturing Company at June 30:
Cash in bank account $ 11,455
Inventory of postage stamps $ 74
Money market fund balance $ 10,400
Petty cash balance $ 350
NSF checks from customers returned by bank $ 867
Postdated checks received from customers $ 791
Money orders $ 290
A nine-month certificate of deposit maturing on December 31 of current year $ 6,000 Based on this information, Fenton Manufacturing Company should report Cash and Cash Equivalents on June 30 of:_________.

Answer 1

Answer:

the Cash and Cash Equivalents on June 30 is $22,495

Explanation:

The computation of the Cash and Cash Equivalents on June 30 is given below:

Cash in bank account $ 11,455

Add: Money market fund balance $ 10,400

Petty cash balance $ 350

Money orders $ 290

Cash and Cash Equivalents $22,495

Therefore the Cash and Cash Equivalents on June 30 is $22,495