Homework Answers
| CASH AND CASH EQUIVALENTS 19000 | |
| cash in hand | 1,000.00 |
| cash in a checking account | 3,000.00 |
| cash in a savings account | 5,000.00 |
| treasury bills(less than or equla to 90 days maturity) | 10,000.00 |
| CASH AND CASH EQUIVALENTS | 19,000.00 |
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A company has the following items at year end: cash on hand, $1,000; cash in a...
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...
As of December 31, Year 1, Valley Company has $13,670 cash in its checking account, as...
As of December 31, Year 1, Valley Company has $13,670 cash in its checking account, as well as several other items listed below: Bank credit card slips signed by customers $ 1,200 Money market fund balance $ 19,000 Investment in U.S. Treasury bills, mature within 90 days $ 40,000 Checks received from customers, but not yet deposited in the bank $ 1,560 Investment in 4,500 shares of Coca-Cola capital stock $ 48,000 What amount should be shown in Valley's December...
Delta Automotive Corporation has the following assets listed in its 12/31/2021 trial balance: Cash in bank—checking account $ 25,500 U.S. Treasury bills (mature in 60 days)* 8,000 Cash on hand (currency and coins) 1,650 U.S. Treasury
Delta Automotive Corporation has the following assets listed in its 12/31/2021 trial balance: Cash in bank—checking account$25,500U.S. Treasury bills (mature in 60 days)*8,000Cash on hand (currency and coins)1,650U.S. Treasury bills (mature in six months)*13,000Undeposited customer checks2,140*Purchased on 11/30/21Required:1. Determine the correct balance of cash and cash equivalents to be reported in the current asset section of the 2021 balance sheet.
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 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 = $Answer
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 = $
The controller of the Red Wing Corporation is in the process of preparing the company's 2021...
The controller of the Red Wing Corporation is in the process of preparing the company's 2021 financial statements. She is trying to determine the correct balance of cash and cash equivalents to be reported as a current asset in the balance sheet. The following items are being considered: a. Balances in the company's accounts at the First National Bank; checking $13,900, savings $22,500. b. Undeposited customer checks of $5,600. C. Currency and coins on hand of $620. d. Savings account...
Using the following information determine the amount that Pearson will report as Cash and Cash Equivalents...
Using the following information determine the amount that Pearson will report as Cash and Cash Equivalents on the Balance Sheet at the end of December. Item Amount Cash is checking account $10,000 Petty cash 580 Postage Stamps 654 Check from customer dated Jan 20, next year 321 3-month certificate of deposit 35,000 12- month certificate of deposit 35,000 Check from customer dated Dec 15, this year 175 Undeposited Cashier’s Checks from customer 729 IOU from customer 500 6-month U.S. Treasury...
QUESTION 35 Noman had the following items at year end: Balance in checking account $ 512,000...
QUESTION 35 Noman had the following items at year end: Balance in checking account $ 512,000 Treasury bills, purchased on 11/1/2020, mature on 1/30/2021 22,000 Loan payable, long-term, from bank 350,000 Included in the checking account balance is $44,000 of restricted cash that Noman's bank requires as a compensating balance for the note. Total cash and cash equivalents are: A. $512,000. B. $534,000. C. $468,000. D. $490,000.
Tina Company has the following items at year-end. Currency and coin in safe. $4,100 Funds in...
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 = $
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...
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 = $
The controller of the Red Wing Corporation is in the process of preparing the company's 2021 financial statements. She is trying to determine the correct balance of cash and cash equivalents to be reported as a current asset in the balance sheet. The following items are being considered: a. Balances in the company's accounts at the First National Bank; checking $13,900, savings $22,500. b. Undeposited customer checks of $5,600. C. Currency and coins on hand of $620. d. Savings account...
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 = $
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