F3M1 Flashcards
1
Q
Cash
A
currency and demand deposits
2
Q
Cash Equivalents
A
short-term, highly liquid less than 90 days
readily convertible to cash
3
Q
items that are included in cash
A
coin and currency on hand
checking and savings accounts
money market funds
compensating balances that are NOT legally restrictes
4
Q
restricted cash
A
cash set aside for a specific use
5
Q
if the restricted cash is associated with a current asset or liability
A
cash is considered a CURRENT asset
6
Q
If the restricted cash is associated with a noncurrent asset or liability
A
cash is considered a NONCURRENT asset
7
Q
Deposits in transit
A
add to bank
8
Q
outstanding checks
A
minus from bank
9
Q
service charges
A
deduct from book
10
Q
NSF
A
deduct from book
11
Q
bank collections
A
add to book
12
Q
interest income
A
add to book
