Waterway Company’s checkbook balance on December 31, 2020, was $84800. In addition, Sheridan held the following items in its safe on December 31.(1) A check for $1750 from Pharoah Company received December 30, 2020, which was not included in the checkbook balance. (2) An NSF check from Pearl Industries in the amount of $3730 that had been deposited at the bank, but was returned for lack of sufficient funds on December 29. The check was to be redeposited on January 3, 2021. The original deposit has been included in the December 31 checkbook balance. (3) Coin and currency on hand amounted to $5680. Required:The proper amount to be reported on Waterway's balance sheet for cash at December 31, 2020, is $.

$88,500

Explanation:

The computation of the amount of cash reported in the balance sheet is shown below:

= Check book balance + check not included - NSF check + coin & currency on hand

= $84,800 + $1,750 - $3,730 + $5,680

= $88,500

We simply applied the above formula so that the correct amount of cash could arrive that is to be reported in the balance sheet

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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