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Determine the correct balance of cash and cash equivalents

Delta Automotive Corporation has the following assets listed in its 12/31/11 trial balance:

951_254-B-A-C-R (1608).png

Required:

1. Determine the correct balance of cash and cash equivalents to be reported in the current asset section of the 2011 balance sheet.

2. For each of the items not included in your answer to requirement 1, explain the correct classification of the item.

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Accounting Basics: Determine the correct balance of cash and cash equivalents

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