Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 7 - Cash and Receivables - Review and Practice - Using Your Judgment - Financial Reporting Problem - Page 379: b

Answer

Cash and cash equivalents reported on 30 June 2014 are equivalent to \$8,558. Cash is utilized in financing P & G’s operational needs. Besides, the cash is used to cater for P & G’s short-range liquidity.

Work Step by Step

Cash and cash equivalents reported on 30 June 2014 are equivalent to \$8,558. Cash is utilized in financing P & G’s operational needs. Besides, the cash is used to cater for P & G’s short-range liquidity.
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