Question

A new accountant at skysong, inc. is trying to identify which of the amounts shown below should be reported as the current asset "cash and cash equivalents" in the year-end balance sheet, as of april 30, 2017.

Answer 1

$17620 

Petty Cash Fund = $60 
Treasury bill = 10000 
Deposit-In-Transit = 260 
Cash-in-Bank = 7300 
Total C&CE = $17620 

Not included items are 
Item 4: Postdated check is an Receivable 
Item 7: Postage Stamps are Office Supplies 
Item 8: IOU is a Receivable