Homework Answers
| cash in bank - savings account | 65,000 |
| cash on hand | 9,850 |
| checking account balance | 25,700 |
| total cash to be reported | $100,550 |
cash refund for IRS
post dated checks and certificates of deposit shall not be reported as cash.
They can be reported as current assets if they are realised within one year or operating cycle.
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Brief Exercise 7-1 Marigold Enterprises owns the following assets at December 31, 2017 Cash in bank-savings...
Brief Exercise 7-1 Crane Enterprises owns the following assets at December 31, 2017. Cash in bank-savings...
Brief Exercise 7-1 Crane Enterprises owns the following assets at December 31, 2017. Cash in bank-savings account Cash on hand Cash refund due from IRS 64,500 9,550 40,500 Checking account balance Postdated checks Certificates of deposit (180-day) 21,100 860 93,310 What amount should be reported as cash? Cash to be reported Click if you would like to Show Work for this question: Open Show Work Licence Pacement Privacy Policy I 2000-2019 John Wiley & Sons, Inc. All Rights Reserved. A...
Martinez Enterprises owns the following assets at December 31, 2020. Cash in bank-savings account 69,000 Checking...
Martinez Enterprises owns the following assets at December 31, 2020. Cash in bank-savings account 69,000 Checking account balance 17,600 Cash on hand 9,030 Postdated checks 770 Cash refund due from IRS 35,600 Certificates of deposit (180-day) 94,570 What amount should be reported as cash? Cash to be reported $
Grouper Enterprises owns the following assets at December 31, 2020. Cash in bank-savings account 67,800 Checking...
Grouper Enterprises owns the following assets at December 31, 2020. Cash in bank-savings account 67,800 Checking account balance 22,500 Cash on hand 8,710 Postdated checks 850 Cash refund due from IRS 33,800 Certificates of deposit (180-day) 94,980 What amount should be reported as cash?
Cheyenne Enterprises owns the following assets at December 31, 2020. Cash in bank—savings account 63,200 Checking...
Cheyenne Enterprises owns the following assets at December 31, 2020. Cash in bank—savings account 63,200 Checking account balance 22,300 Cash on hand 8,810 Postdated checks 800 Cash refund due from IRS 34,800 Certificates of deposit (180-day) 91,320 What amount should be reported as cash? Cash to be reported $enter the amount of cash to be reported
Question 1 View Policies Current Attempt in Progress Marigold Enterprises owns the following assets at December...
Question 1 View Policies Current Attempt in Progress Marigold Enterprises owns the following assets at December 31, 2017. Cash in bank-savings account 63.500 Checking account balance 21,900 Cash on hand 8,880 Postdated checks 870 Cash refund due from IRS 35,700 Certificates of deposit (180-day) 90,670 What amount should be reported as cash? Cash to be reported $
Brief Exercise 7-1 Indigo Enterprises owns the following assets at December 31, 2017. Cash in bank—savings...
Brief Exercise 7-1
Indigo Enterprises owns the following assets at December 31,
2017.
Cash in bank—savings account
72,900
Checking account balance
20,000
Cash on hand
8,860
Postdated checks
940
Cash refund due from IRS
36,500
Certificates of deposit (180-day)
90,770
What amount should be reported as cash?
Cash to be reported
$
Exercise 7-2
Presented below are a number of independent situations.
For each individual situation, determine the amount that should be
reported as cash.
1. Checking account balance $925,100;...
Crane Enterprises Inc. has the following account balances at December 31, 2018: Cash in bank savings...
Crane Enterprises Inc. has the following account balances at December 31, 2018: Cash in bank savings account $73,600 Cash on hand 13,700 Cash refund due re: overpayment of income tax 31,800 Chequing account balance 19,800 Postdated cheques from Yu Corporation 450 Guaranteed investment certificate (180 days to maturity) 100,000 Credit card balance owed by Crane 6,000 (a) What amount should Crane report as cash and cash equivalents at December 31? Cash $
Wiley PLUS Problem 7-5 Crane Enterprises Inc. has the following account balances at December 31, 2018:...
Wiley PLUS Problem 7-5 Crane Enterprises Inc. has the following account balances at December 31, 2018: Cash in bank savings account Cash on hand Cash refund due re: overpayment of income tax Chequing account balance Postdated cheques from Yu Corporation Guaranteed investment certificate (180 days to maturity) Credit card balance owed by Crane $73,600 13,700 31,800 19,800 450 100,000 6,000 What amount should Crane report as cash and cash equivalents at December 31? Cash LINK TO TEXT In which financial...
Littleton Corporation reports the following information: Balance in National Bank checking account $13,002 Certificates of deposit...
Littleton Corporation reports the following information: Balance in National Bank checking account $13,002 Certificates of deposit 4,000 Petty cash 100 Cash on hand 2,580 Employees' IOUs 226 Balance in Society Bank checking account (300) Customer's postdated check 168 Balance in Peoples Savings and Loan savings account 9,000 Show all work. Compute the correct amount of cash that will appear as a current asset on Littleton Corporation's balance sheet.
Cash and Other Items The following information has been extracted from Atwood Corporation's accounting records: Cash...
Cash and Other Items The following information has been extracted from Atwood Corporation's accounting records: Cash on hand (undeposited sales receipts) Certificates of deposit Customer's note receivable Reconciled balance in University National Bank checking account Reconciled balance in Second National Bank checking account Balance in City Federal savings account Customer's postdated check Employee travel advances $ 1,535 25,000 1,000 (350) 9,260 7,410 980 1,200 Cash in bond sinking fund 8,300 Bond sinking fund investments 14,600 Required: 1. Determine the balance...
Brief Exercise 7-1 Crane Enterprises owns the following assets at December 31, 2017. Cash in bank-savings account Cash on hand Cash refund due from IRS 64,500 9,550 40,500 Checking account balance Postdated checks Certificates of deposit (180-day) 21,100 860 93,310 What amount should be reported as cash? Cash to be reported Click if you would like to Show Work for this question: Open Show Work Licence Pacement Privacy Policy I 2000-2019 John Wiley & Sons, Inc. All Rights Reserved. A...
Martinez Enterprises owns the following assets at December 31, 2020. Cash in bank-savings account 69,000 Checking account balance 17,600 Cash on hand 9,030 Postdated checks 770 Cash refund due from IRS 35,600 Certificates of deposit (180-day) 94,570 What amount should be reported as cash? Cash to be reported $
Grouper Enterprises owns the following assets at December 31, 2020. Cash in bank-savings account 67,800 Checking account balance 22,500 Cash on hand 8,710 Postdated checks 850 Cash refund due from IRS 33,800 Certificates of deposit (180-day) 94,980 What amount should be reported as cash?
Question 1 View Policies Current Attempt in Progress Marigold Enterprises owns the following assets at December 31, 2017. Cash in bank-savings account 63.500 Checking account balance 21,900 Cash on hand 8,880 Postdated checks 870 Cash refund due from IRS 35,700 Certificates of deposit (180-day) 90,670 What amount should be reported as cash? Cash to be reported $
Brief Exercise 7-1
Indigo Enterprises owns the following assets at December 31,
2017.
Cash in bank—savings account
72,900
Checking account balance
20,000
Cash on hand
8,860
Postdated checks
940
Cash refund due from IRS
36,500
Certificates of deposit (180-day)
90,770
What amount should be reported as cash?
Cash to be reported
$
Exercise 7-2
Presented below are a number of independent situations.
For each individual situation, determine the amount that should be
reported as cash.
1. Checking account balance $925,100;...
Crane Enterprises Inc. has the following account balances at December 31, 2018: Cash in bank savings account $73,600 Cash on hand 13,700 Cash refund due re: overpayment of income tax 31,800 Chequing account balance 19,800 Postdated cheques from Yu Corporation 450 Guaranteed investment certificate (180 days to maturity) 100,000 Credit card balance owed by Crane 6,000 (a) What amount should Crane report as cash and cash equivalents at December 31? Cash $
Wiley PLUS Problem 7-5 Crane Enterprises Inc. has the following account balances at December 31, 2018: Cash in bank savings account Cash on hand Cash refund due re: overpayment of income tax Chequing account balance Postdated cheques from Yu Corporation Guaranteed investment certificate (180 days to maturity) Credit card balance owed by Crane $73,600 13,700 31,800 19,800 450 100,000 6,000 What amount should Crane report as cash and cash equivalents at December 31? Cash LINK TO TEXT In which financial...
Cash and Other Items The following information has been extracted from Atwood Corporation's accounting records: Cash on hand (undeposited sales receipts) Certificates of deposit Customer's note receivable Reconciled balance in University National Bank checking account Reconciled balance in Second National Bank checking account Balance in City Federal savings account Customer's postdated check Employee travel advances $ 1,535 25,000 1,000 (350) 9,260 7,410 980 1,200 Cash in bond sinking fund 8,300 Bond sinking fund investments 14,600 Required: 1. Determine the balance...
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