The Records of a Corporation Provided the Following Information at the End

question 84

Multiple Choice

The records of a corporation provided the following information at the end of the current reporting year, December 31, 2002: $$\begin{array} { | l | l | } \hline \text { Cash short } & \$ 50 \\\hline \text { Petty cash (on hand) } & 300 \\\hline \text { Certificates of deposit } & 30,000 \\\hline \text { Savings account balance } & 17,800 \\\hline \text { Money orders trom customers } & 500 \\\hline \text { Chequing account balance (reconciled balance; does not include any other items listed) } & 11,720 \\\hline \text { Postage stamps on hand } & 104 \\\hline \text { Uncashed tax retund cheque } & 916 \\\hline \text { Uncashed certitied cheque (from c ustomer) } & 400 \\\hline\end{array}$$ The amount that the corporation should report for cash on its 2002 balance sheet is:

• A) $61,586
• B) $31,636
• C) $31,586
• D) $13,836
• E) $13,786

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Definitions:

Croquet Set

A collection of equipment used for playing croquet, a lawn game involving hitting plastic or wooden balls through hoops with a mallet.

Volleyball Set

In the context of sports, it refers to a group of plays or the equipment used in the game of volleyball, but as a financial term, it's NO.

Markup Percentage

The percentage added to the cost price of goods to cover overhead and profit.

Dollar Amount

a numerical value representing a sum of money.