Homework Answers
(1)
| Cash or Cash Equivalent ( yes or no) | |
| 1 | Yes |
| 2 | No |
| 3 | Yes |
| 4 | Yes |
| 5 | No |
| 6 | Yes |
(2)
| Statements | |
| 1 | False |
| 2 | True |
| 3 | True |
| 4 | False |
| 5 | True |
| 6 | True |
(3)
| Currency located at the company | $1050 |
| Short-term investments that mature within three months | $1950 |
| Balance in savings account | $8500 |
| Checks received from customers but not yet deposited | $650 |
| Coins located at the company | $110 |
| Balance in checking account | $6200 |
| Total | $ 18640 |
Add Answer to:
Determine whether the firm reports each of the following items as part of cash and cash...
Below are several statements about occupational fraud. Required: Select whether the answer to each of the...
Below are several statements about occupational fraud. Required: Select whether the answer to each of the statements is true or false. Statements For most large companies, occupational fraud is minimal and internal control procedures are unnecessary. Managers have a variety of reasons for manipulating the numbers in financial 2. statements, such as maximizing their compensation, increasing the company's stock price, and preserving their jobs. Internal control procedures include formal policies and procedures related to (1) safeguarding the company's assets and...
Determine whether the firm reports each of the following items as part of cash and cash...
Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Item Cash or Cash Equivalent? (yes/no) 1. Currency 2. Inventory for sale to customers 3. Balance in savings account 4. Checks 5. Accounts receivable 6. Investments purchased with maturities of less than three months
The following items appeared on the year-end trial balance of Consolidated Freight Corporation: cash in a...
The following items appeared on the year-end trial balance of Consolidated Freight Corporation: cash in a checking account, U.S. Treasury bills that mature in six months, undeposited customer checks, cash in a savings account, and currency and coins. Which of these items would be included in the company's balance sheet as cash and cash equivalents? Cash in a checking account U.S. Treasury bills that mature in six months Undeposited customer checks Cash in a savings account Currency and coins Included...
Below are several amounts reported at the end of the year. Currency located at the company...
Below are several amounts reported at the end of the year. Currency located at the company Supplies Short-term investments that mature within three months Accounts receivable Balance in savings account Checks received from customers but not yet deposited Prepaid rent Coins located at the company Equipment Balance in checking account $1,050 3,200 1,950 3,500 8,500 650 1,450 110 9,400 6,200 Required: Calculate the amount of cash to report in the balance sheet. Total cash
Determine whether the firm reports each of the following items as part of cash, cash equivalents,...
Determine whether the firm reports each of the following items as part of cash, cash equivalents, or neither in the balance sheet. Item Cash, Cash equivalent, or neither 2. 3 4. Inventory for sale to customers Investment with a maturity of 80 days at purchase Three month US Treasury Bill Bank deposits
Use the following to answer questions 1-4 Determine whether the firm reports each of the following...
Use the following to answer questions 1-4 Determine whether the firm reports each of the following items as part of cash, cash equivalents, or neither in the balance sheet Item Cash, Cash equivalent, or neither 1 Inventory for sale to customers Investment with a maturity of 80 days at purchase Three month US Treasury Bill Bank deposits Use the following to answer questions 5-8 Bank Reconciliation: Identify whether the item should be added or subtracted from the bank balance or...
True/False Indicate whether the statement is true or false. 1. As we compare a merchandise business...
True/False Indicate whether the statement is true or false. 1. As we compare a merchandise business to a service business, the financial statement that changes the most is the Balance Sheet 2. An accounting system is the methods and procedures used to collect, classify, summarize, and report the businesses financial information 3. Transactions must first be recorded into the general journal before they can be entered into specialized journals. 4. In the Merchandising Income Statement, sales will be reduced by...
Use the following to answer questions 1 - 4 Determine whether the firm reports each of...
Use the following to answer questions 1 - 4 Determine whether the firm reports each of the following items as part of cash, cash equivalents, or neither in the balance sheet Item Cash, Cash equivalent, or neither 1 2. 3 Inventory that will be sold in 30 days 30 day US Treasury bill Accounts receivable to be collected in 30 days Investments with maturities of six months Use the following to answer questions 5-8 Bank Reconciliation: Identify whether the item...
Reporting Cash Tina Company has the following items at year-end. Currency and coin in safe. $4,100...
Reporting Cash Tina Company has the following items at year-end. Currency and coin in safe. $4,100 Funds in savings account (requires $2,500 compensating balance) 26,540 Funds in checking account 6,750 Traveler's checks 625 Postdated check 1,250 Not-sufficient-funds check 1,880 Money market fund 35,100 Required Identify the amount of the above items that should be reported as cash and cash equivalents on Tina Company's balance sheet. Cash and Cash Equivalents = $ 73,655 *
Reporting Cash Jenkins Company has the following items at year-end. $3,600 Currency and coin in safe....
Reporting Cash Jenkins Company has the following items at year-end. $3,600 Currency and coin in safe. Funds in savings account (requires $2,000 compensating balance) 26,250 Funds in checking account 7,750 Traveler's checks 600 Postdated check 2,250 Not-sufficient-funds check 950 Money market fund 33,400 Required Identify the amount of the above items that should be reported as cash and cash equivalents on Jenkins Company's balance sheet. Cash and Cash Equivalents = $
Below are several statements about occupational fraud. Required: Select whether the answer to each of the statements is true or false. Statements For most large companies, occupational fraud is minimal and internal control procedures are unnecessary. Managers have a variety of reasons for manipulating the numbers in financial 2. statements, such as maximizing their compensation, increasing the company's stock price, and preserving their jobs. Internal control procedures include formal policies and procedures related to (1) safeguarding the company's assets and...
Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Item Cash or Cash Equivalent? (yes/no) 1. Currency 2. Inventory for sale to customers 3. Balance in savings account 4. Checks 5. Accounts receivable 6. Investments purchased with maturities of less than three months
The following items appeared on the year-end trial balance of Consolidated Freight Corporation: cash in a checking account, U.S. Treasury bills that mature in six months, undeposited customer checks, cash in a savings account, and currency and coins. Which of these items would be included in the company's balance sheet as cash and cash equivalents? Cash in a checking account U.S. Treasury bills that mature in six months Undeposited customer checks Cash in a savings account Currency and coins Included...
Below are several amounts reported at the end of the year. Currency located at the company Supplies Short-term investments that mature within three months Accounts receivable Balance in savings account Checks received from customers but not yet deposited Prepaid rent Coins located at the company Equipment Balance in checking account $1,050 3,200 1,950 3,500 8,500 650 1,450 110 9,400 6,200 Required: Calculate the amount of cash to report in the balance sheet. Total cash
Determine whether the firm reports each of the following items as part of cash, cash equivalents, or neither in the balance sheet. Item Cash, Cash equivalent, or neither 2. 3 4. Inventory for sale to customers Investment with a maturity of 80 days at purchase Three month US Treasury Bill Bank deposits
Use the following to answer questions 1-4 Determine whether the firm reports each of the following items as part of cash, cash equivalents, or neither in the balance sheet Item Cash, Cash equivalent, or neither 1 Inventory for sale to customers Investment with a maturity of 80 days at purchase Three month US Treasury Bill Bank deposits Use the following to answer questions 5-8 Bank Reconciliation: Identify whether the item should be added or subtracted from the bank balance or...
True/False Indicate whether the statement is true or false. 1. As we compare a merchandise business to a service business, the financial statement that changes the most is the Balance Sheet 2. An accounting system is the methods and procedures used to collect, classify, summarize, and report the businesses financial information 3. Transactions must first be recorded into the general journal before they can be entered into specialized journals. 4. In the Merchandising Income Statement, sales will be reduced by...
Use the following to answer questions 1 - 4 Determine whether the firm reports each of the following items as part of cash, cash equivalents, or neither in the balance sheet Item Cash, Cash equivalent, or neither 1 2. 3 Inventory that will be sold in 30 days 30 day US Treasury bill Accounts receivable to be collected in 30 days Investments with maturities of six months Use the following to answer questions 5-8 Bank Reconciliation: Identify whether the item...
Reporting Cash Tina Company has the following items at year-end. Currency and coin in safe. $4,100 Funds in savings account (requires $2,500 compensating balance) 26,540 Funds in checking account 6,750 Traveler's checks 625 Postdated check 1,250 Not-sufficient-funds check 1,880 Money market fund 35,100 Required Identify the amount of the above items that should be reported as cash and cash equivalents on Tina Company's balance sheet. Cash and Cash Equivalents = $ 73,655 *
Reporting Cash Jenkins Company has the following items at year-end. $3,600 Currency and coin in safe. Funds in savings account (requires $2,000 compensating balance) 26,250 Funds in checking account 7,750 Traveler's checks 600 Postdated check 2,250 Not-sufficient-funds check 950 Money market fund 33,400 Required Identify the amount of the above items that should be reported as cash and cash equivalents on Jenkins Company's balance sheet. Cash and Cash Equivalents = $
Most questions answered within 3 hours.
-
Enzyme X exhibits maximum activity at pH = 5.25. X shows a sharp
decrease in its...
asked 47 seconds ago -
Three samples were taken of 4 different dog food bags and their
weights were recorded:
Sample/Observation...
asked 3 minutes ago -
The Beatles had 27 number one hits; a radio station asks
listeners to send in a...
asked 1 minute ago -
Help with Java Program Please
Create a simple graph class. The graph class should have the...
asked 2 minutes ago -
Which of the following statements is true regarding the nature
of culture?
A.We are born with...
asked 22 minutes ago -
(a) 2
NO2(g) à 2
NO(g) +
O2(g)
The rate law for this reaction
is 2nd...
asked 25 minutes ago -
Write the overall reaction for the RedOx
reaction (below) when it occurs in an acidic environment....
asked 32 minutes ago -
Two forces are acting on an object. Force 1 on the object is 6.0
N and...
asked 33 minutes ago -
You are planning for retirement. You plan to work for 20 years.
Starting a year from...
asked 46 minutes ago -
The African Adventures exhibit water system holds approximately
850,000 gallons (3.2x109 g) of water. The temperature...
asked 38 minutes ago -
which of the following is capital?
the barn a farmer uses to hold the chickens he...
asked 48 minutes ago -
Attribute
Sample Value
Sample Value
Sample Value
Sample Value
pirate_num
11
22
43
54
pirate_lname
James...
asked 41 minutes ago