(Answered) Question - nayak company has recorded the following items

Accounting

Question - Nayak Company has recorded the following items in its financial records.

Cash in bank $41,000

Cash in plant expansion fund 100,000

Cash on hand 8,000

Highly liquid investments 34,000

Petty cash 500

Receivables from customers 89,000

Stock investments 61,000

The cash in bank is subject to a compensating balance of $5,000. 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 Nayak report as "Cash and cash equivalents" on its balance sheet?

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