Question

The following information is available for Fenton Manufacturing Company at June 30: Cash in bank account $ 8,455 Inventory of postage stamps $ 94 Money market fund balance $ 14,400 Petty cash balance $ 550 NSF checks from customers returned by bank $ 1,067 Postdated checks received from customers $ 891 Money orders $ 2,257 A nine-month certificate of deposit maturing on December 31 of current year $ 10,000 Based on this information, Fenton Manufacturing Company should report Cash and Cash Equivalents on June 30 of:

Answer 1

Answer: $‭25,662‬

Step-by-step explanation:

Cash and Cash Equivalent accounts in the above are;

• Cash in bank account
• Money Market fund
• Petty cash balance
• Money orders

Cash and Cash equivalents on June 30 are;

= 8,455 + 14,400 + 550 + 2,257

= $‭25,662‬