Sheridan Company has recorded the following items in its financial records. Cash in bank $51,400 Cash in plant expansion fund 105,900 Cash on hand 13,000 Highly liquid investments 37,000 Petty cash 590 Receivables from customers 94,100 Stock investments 68,800 The highly liquid investments had maturities of 3 months or less when they were purchased. The stock investments will be sold in the next 6 to 12 months. The plant expansion project will begin in 3 years.What amount should Wynn report as "Cash and cash equivalents" on its balance sheet?

Respuesta :

Answer:

$101,990

Explanation:

The preparation of cash and cash equivalents is shown below:-

Cash and cash equivalents on the balance sheet

Cash in bank                        $51,400

Cash on hand                       $13,000

Petty cash                             $590

Highly liquid investments     $37,000

Total cash                             $101,990