Anew accountant at windsor, inc. is trying to identify which of the following amounts should be reported as the current asset "cash and cash equivalents" in the year-end balance sheet, as of april 30, 2017. 1. $92 of currency and coin in a locked box used for incidental cash transactions. 2. a $12,200 u. s. treasury bill, due may 31, 2017. 3. $355 of april-dated checks that windsor has received from customers but not yet deposited. 4. an $92 check received from a customer in payment of its april account, but postdated to may 1. 5. $4,110 in the company’s checking account. 6. $7,080 in its savings account. 7. $64 of prepaid postage in its postage meter. 8. a $32 iou from the company receptionist.

$23,837

Explanation:

The following items should be reported as the current asset "Cash and cash equivalents":

(i) currency

(ii) U.S. Treasury bill

(iii) April checks

(iv) Checking account

(v) Savings account

Cash and cash equivalents balance at April 30, 2017:

= Currency + U.S. Treasury bill + April checks + Checking account + Savings account

= $92 + $12,200 + $355 + $4,110 + $7,080

= $23,837

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

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