The Following Information Is Available for Fenton Manufacturing Company at June

question 99

Multiple Choice

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

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

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Definitions:

Intangible Assets

Non-physical assets that have value, such as patents, trademarks, and copyrights, known for their long-term benefits to a company.

Gain on Sale

The profit recognized when an asset is sold for more than its carrying amount.

Other Revenue

Income that a business earns from activities not related to its primary operations, such as investment income or rental income.

Fixed Assets

Long-term tangible assets that are used in the operations of a business and are not expected to be consumed or converted into cash in the short term, such as property, plant, and equipment.