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Q1) As of December 31, 2009, Tulip Company has $16,920 cash in its checking account, as well as various other items given below:

Bank credit card slips signed by customers 1,400
Money market fund balance 10,000
Investment in U.S. Treasury bills 40,000
Checks received from customers but not yet deposited in the bank 1,800
Investment in ATT 10% bonds maturing 2010 60,000

What amount must be shown in Tulips December 31, 2009, balance sheet as "Cash and cash equivalents"?

Accounting Basics, Accounting

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