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The following information is available for Birch Company at December 31:
Cash in registers
$ 2,890
$ 16,000
Investment maturing in 9 years
Accounts receivable
$ 1,725
Cash in bank account
$ 23,431
Accounts payable
$ 750
Cash in petty cash fund
$ 300
Inventory of postage stamps
$ 28
U.S. Treasury bill maturing in 15 days
$ 11,000
Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of.
Multiple Choice
$53,621
$42,649
$38,596
$40,096
$37,621

Respuesta :

chilljain33

The cash and cash equivalents to be reported by Birch Company as on December 31 shall be $37,621.

What are cash equivalents?

The balances, which are not available in the form of cash, but their worth is certain and highly liquid, are known as cash equivalents.

The reporting of cash and cash equivalents shall be done as under,

Cash and Cash Equivalents= Cash in Registers+Cash in Bank+US Treasury Bill+Petty Cash Fund

Therefore, Cash and Cash Equivalents= (2890+13431+300+11000)=$37621

Hence, option E holds true regarding cash and cash equivalents to be reported by the Birch Company in their books as on December 31.

Learn more about cash and cash equivalents here:

https://brainly.com/question/15359741

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