Lester Corporation had the following items listed in its trial balance at 12/31/22:
Currency and coins P 733
Balance in checking account 50,000
Customer checks waiting to be deposited 3,300
Treasury bills, purchased on 11/2/22, mature on 4/30/23 3,000
Marketable equity securities 10,200

Question

30-11-2022
Business

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Lester Corporation had the following items listed in its trial balance at 12/31/22:
Currency and coins P 733
Balance in checking account 50,000
Customer checks waiting to be deposited 3,300
Treasury bills, purchased on 11/2/22, mature on 4/30/23 3,000
Marketable equity securities 10,200

Respuesta :

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Qwline Qwline · Answer 1 · 2022-12-02T18:30:20+01:00

The cash and cash equivalents for Lester Corporations will be $57033 as per the given trial balance

Cash equivalent refers to the most liquid assets available with the company that can be converted into cash within a very short period of time. Cash equivalent includes tradable financial instruments, accounts receivable, etc.

The calculation for cash and cash equipment is shown below.

Particulars Amount ($)

Currency and coins 733

Add: Balance in checking account 50,000

Add: Customer checks waiting to be deposited 3,300

Add: Commercial paper, purchased on 11/2/2022, mature on 4/30/2023 3,000

Cash and cash equipment $57033

Learn more about cash:

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Lester Corporation had the following items listed in its trial balance at 12/31/22: Currency and coins P 733 Balance in checking account 50,000 Customer checks waiting to be deposited 3,300 Treasury bills, purchased on 11/2/22, mature on 4/30/23 3,000 Marketable equity securities 10,200

Respuesta :

Otras preguntas

Lester Corporation had the following items listed in its trial balance at 12/31/22:
Currency and coins P 733
Balance in checking account 50,000
Customer checks waiting to be deposited 3,300
Treasury bills, purchased on 11/2/22, mature on 4/30/23 3,000
Marketable equity securities 10,200