The Following Information Is Available for Fenton Manufacturing Company at June

question 41

Multiple Choice

The following information is available for Fenton Manufacturing Company at June 30:
$$\begin{array} { |l | r } \hline \text { Cash in bank account } & \$ 11,455 \\\hline \text { Inventory of postage stamps } & \$ 74 \\\hline \text { Money market fund balance } & \$ 10,400 \\\hline \text { Petty cash balance } & \$ 350 \\\hline \text { NSF checks from customers returned by bank } & \$ 867 \\\hline \text { Postdated checks received from customers } &\$791 \\\hline \text { Money orders } & \$ 290\\\hline \begin{array} { l } \text { A nine-month certificate of deposit maturing on December } 31 \text { of } \\\text { current year }\end{array} & \$ 6,000 \\\hline\end{array}$$
Based on this information,Fenton Manufacturing Company should report Cash and Cash Equivalents on June 30 of:

• A) $28,495
• B) $29,286
• C) $23,286
• D) $12,095
• E) $22,495

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Definitions:

Manual

A handbook or guide that provides instructions or guidelines on how to perform tasks or operate machinery or equipment.

Computerized Accounting System

A software system that is used for processing accounting transactions and managing accounts with minimal manual input.

Title

The legal right to own or possess something, such as property or a title to a vehicle, representing ownership and legal possession.

Normal Balances

The side (debit or credit) of an account that is expected to increase, consistent with the principles of double-entry bookkeeping.