ABC Company provided a breakdown of its cash accounts at year-end totaling $7,857,000, which included bills and coins, demand deposits, savings deposits, certificates of deposit, postage stamps, money orders, manager checks, traveler checks, bank drafts, postdated customer checks, change funds, petty cash funds, and an emergency fund. The total cash amount was computed as the sum of these cash account balances.
ABC Company provided a breakdown of its cash accounts at year-end totaling $7,857,000, which included bills and coins, demand deposits, savings deposits, certificates of deposit, postage stamps, money orders, manager checks, traveler checks, bank drafts, postdated customer checks, change funds, petty cash funds, and an emergency fund. The total cash amount was computed as the sum of these cash account balances.
ABC Company provided a breakdown of its cash accounts at year-end totaling $7,857,000, which included bills and coins, demand deposits, savings deposits, certificates of deposit, postage stamps, money orders, manager checks, traveler checks, bank drafts, postdated customer checks, change funds, petty cash funds, and an emergency fund. The total cash amount was computed as the sum of these cash account balances.
ABC Company provided the following information at year-end
comprising the cash account:
Bills and coins 400,000 Cash in bank – demand deposit 5,000,000 Cash in bank – savings deposit 1,000,000 Certificate of time deposit, 2 yrs 1,500,000 Postage stamps unused 5,000 Money order 50,000 Manager check 100,000 Traveler check 1,000,000 Bank Draft 60,000 Postdated customer check 500,000 Change Fund 22,000 Petty Cash Fund 50,000 Emergency Fund 175,000