Assuming Charlton Company Has the Following December 31 Year End

Assuming Charlton Company has the following December 31 year end account balances: $$\begin{array} {| l | r |} \hline\text { Chequing } & \$ 2,450 \\\hline \text { Savings } & 5,650 \\\hline \text { Petty cash } & 250 \\\hline\end{array}$$ Cash and Cash equivalents would be reported on the Balance Sheet as:

A) $2,450.
B) $5,650.
C) $250.
D) $8,350.

Correct Answer:

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