Based on the following information, how much is the company's cash to be presented in the statement of financial position? Postage stamps 100,000Inventory 200,000Cash in bank 30,000Group of answer choices230,000100,000130,00030,000
Question
Based on the following information, how much is the company's cash to be presented in the statement of financial position? Postage stamps 100,000Inventory 200,000Cash in bank 30,000Group of answer choices230,000100,000130,00030,000
Solution
The cash to be presented in the statement of financial position is calculated by adding up all the liquid assets that a company has. In this case, the only liquid asset mentioned is the Cash in Bank, which is 30,000.
Postage stamps and inventory are not considered as cash. Therefore, they are not included in the calculation.
So, the company's cash to be presented in the statement of financial position is 30,000.
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