Emmet Co.'s records reveal the following data at year-end: Commercial paper maturing in four months $ 1 , 200 Uncashed tax refund check 550 Petty cash 100 Certificates of deposit 1 , 000 Balance in Union Savings and Loan savings account 2 , 500 Postage 50 Balance in United Bank checking account ( 250 ) Treasury notes maturing in six months 2 , 200 Cash on hand 500 Postclated customer check 125 Employee travel advance 75 Treasury bill maturing in one month 2 , 500 \begin{array}{ll} ext { Commercial paper maturing in four months } & \$ 1,200 \ ext { Uncashed tax refund check } & 550 \ ext { Petty cash } & 100 \ ext { Certificates of deposit } & 1,000 \ ext { Balance in Union Savings and Loan savings account } & 2,500 \ ext { Postage } & 50 \ ext { Balance in United Bank checking account } & (250) \ ext { Treasury notes maturing in six months } & 2,200 \ ext { Cash on hand } & 500 \ ext { Postclated customer check } & 125 \ ext { Employee travel advance } & 75 \ ext { Treasury bill maturing in one month } & 2,500\end{array} Commercial paper maturing in four months Uncashed tax refund check Petty cash Certificates of deposit Balance in Union Savings and Loan savings account Postage Balance in United Bank checking account Treasury notes maturing in six months Cash on hand Postclated customer check Employee travel advance Treasury bill maturing in one month $1 , 200 550 100 1 , 000 2 , 500 50 ( 250 ) 2 , 200 500 125 75 2 , 500 Required:Compute the correct amount of cash and cash equivalents that will appear as a current asset on Emmet Co.'s balance sheet.

Question

Emmet Co.'s records reveal the following data at year-end:  Commercial paper maturing in four months  $ 1 , 200  Uncashed tax refund check  550  Petty cash  100  Certificates of deposit  1 , 000  Balance in Union Savings and Loan savings account  2 , 500  Postage  50  Balance in United Bank checking account  ( 250 )  Treasury notes maturing in six months  2 , 200  Cash on hand  500  Postclated customer check  125  Employee travel advance  75  Treasury bill maturing in one month  2 , 500 \begin{array}{ll}	ext { Commercial paper maturing in four months }  &  \$ 1,200 \	ext { Uncashed tax refund check }  &  550 \	ext { Petty cash }  &  100 \	ext { Certificates of deposit }  &  1,000 \	ext { Balance in Union Savings and Loan savings account }  &  2,500 \	ext { Postage }  &  50 \	ext { Balance in United Bank checking account }  &  (250) \	ext { Treasury notes maturing in six months }  &  2,200 \	ext { Cash on hand }  &  500 \	ext { Postclated customer check }  &  125 \	ext { Employee travel advance }  &  75 \	ext { Treasury bill maturing in one month }  &  2,500\end{array}  Commercial paper maturing in four months   Uncashed tax refund check   Petty cash   Certificates of deposit   Balance in Union Savings and Loan savings account   Postage   Balance in United Bank checking account   Treasury notes maturing in six months   Cash on hand   Postclated customer check   Employee travel advance   Treasury bill maturing in one month  ​ $1 , 200 550 100 1 , 000 2 , 500 50 ( 250 ) 2 , 200 500 125 75 2 , 500 ​   Required:Compute the correct amount of cash and cash equivalents that will appear as a current asset on Emmet Co.'s balance sheet.

Lindsey Weavil · Accepted Answer

Final Answer :   Cash  ( $ 550 + $ 100 + $ 2 , 500 + $ 500 ) $ 3 , 650  Cash equivalents  2 , 500  Total  $ 6 , 150 \begin{array}{ll}	ext { Cash }(\$ 550+\$ 100+\$ 2,500+\$ 500)  &  \$ 3,650 \	ext { Cash equivalents }  & {2,500}\	ext { Total }  & \$ 6,150\end{array}  Cash  ( $550 + $100 + $2 , 500 + $500 )  Cash equivalents   Total  ​ $3 , 650 2 , 500 $6 , 150 ​

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