Use the following to answer questions 1 – 4 | Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Cash or Cash Equivalent? (Yes or No) Item 1 Accounts receivable 2 30 day treasury bill 3 Checks 4.93 day Certificate of Deposit

Use the following to answer questions 1 – 4 | Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Cash or Cash Equivalent? (Yes or No) Item 1 Accounts receivable 2 30 day treasury bill 3 Checks 4.93 day Certificate of Deposit

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter10: Auditing Cash And Marketable Securities

Section: Chapter Questions

Problem 37RSCQ

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Concept explainers

Cash Book

So, before coming to the topic of cash books, I will let you briefly explain about the cash so that you all can be familiar with the word cash. Cash comes under the category of the current asset which is used as a medium of exchange for all the financial transactions in the firm. Cash is something that is universally accepted as a mode of payment. So, now comes to the topic i.e., cash book.

Question

Yes-cash Yes-cash equivalent Neither

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