Cash Balances Calculation

What is the cash balance for each scenario provided based on the given data? The cash balance for each scenario can be calculated by adding or subtracting the relevant amounts. Let's calculate the cash balances for each situation provided:

Situation 1:

Checking account balance: $1,054,500

Certificate of deposit: $1,596,000

Cash advance to subsidiary: $1,117,200

Utility deposit paid to gas company: $212

Cash balance: $2,651,912 ($1,054,500 + $1,596,000 + $1,117,200 + $212)

Situation 2:

Checking account balance: $684,000

Overdraft in special checking account: $19,380

Cash held in a bond sinking fund: $228,000

Petty cash fund: $342

Coins and currency on hand: $1,599

Cash balance: $894,561 ($684,000 + $228,000 + $1,599 + $342 - $19,380)

Situation 3:

Checking account balance: $672,600

Postdated check from customer: $12,540

Cash restricted due to maintaining compensating balance requirement: $114,000

Certified check from customer: $11,172

Postage stamps on hand: $700

Cash balance: $558,012 ($672,600 + $11,172 - $12,540 - $114,000 + $700)

Situation 4:

Checking account balance at the bank: $42,180

Money market balance at a mutual fund with checking privileges: $54,720

NSF check received from customer: $912

Cash balance: $95,988 ($42,180 + $54,720 - $912)

← Understanding probability a step by step guide Establishing google as a global brand the success story →

More Posts: