Business, 25.10.2019 00:43 ilvvsShatalov2214
Inch co. had the following balances at december 31, year 4: cash in checking account $ 35,000 cash in money market account 75,000 u. s. treasury bill, purchased 12/1/yr 4, maturing 2/28/yr 5 200,000 u. s. treasury bill, purchased 12/1/yr 3, maturing 5/31/yr 5 150,000 inch’s policy is to treat as cash equivalents all highly-liquid investments with a maturity of 3 months or less when purchased. what amount should inch report as cash and cash equivalents in its december 31, year 4, balance sheet? a. $235,000
b. $460,000
c. $110,000
d. $310,000
Answers: 3
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Inch co. had the following balances at december 31, year 4: cash in checking account $ 35,000 cash...
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