Gia Company has the following information available: Cash pledged as collateral $ 2 comma 000 comma 000 U. S. Treasury bill due in one month (purchased six months ago) $ 2 comma 000 comma 000 U. S. Treasury bill due in one year (purchased yesterday) $ 2 comma 500 comma 000 Cash in checking account $ 400 comma 000 What is the amount of Cash and Cash Equivalents to be reported on the balance sheet?

$4,400,000

Explanation:

Cash and cash equivalent are cash and other liquid financial instruments that are convertible to cash within a short period (usually 3 months).

These items are presented in the balance sheet as the cash and cash equivalent as at the end of the given period.

From the items given;

Cash pledged as collateral $ 2 comma 000 comma 000 U.S - Yes, part of cash and cash equivalent

Treasury bill due in one month (purchased six months ago)  $ 2 comma 000 comma 000 - Yes, part of cash and cash equivalent

U.S. Treasury bill due in one year (purchased yesterday) $ 2 comma 500 comma 000 - No, not a part of cash and cash equivalent

Cash in checking account $ 400 comma 000 - Yes, part of cash and cash equivalent

Total cash and cash equivalent

= $2,000,000 + $2,000,000 + $400,000

= $4,400,000

our agriculture industry and our business industry

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