Identify cash equivalents from the listed items.
Identify cash equivalents from the listed items.
Money market funds
Supplies
Three-month Treasury bills
Accounts receivable
Prepaid rent
Homework Answers
Money market funds
Three-month treasury bills
Explanation : Cash equivalent are those assets which are highly liquid and they can be easily converted into cash.
Knowledge Check 01 Identify cash equivalents from the listed items. (You may select more than one...
Knowledge Check 01 Identify cash equivalents from the listed items. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Money market funds Supplies Three-month Treasury bills Accounts receivable Prepaid rent
23. All of the following are considered to be "cash equivalents" except A. Treasury bills B....
23. All of the following are considered to be "cash equivalents" except A. Treasury bills B. Commercial paper C. money market funds D. bond funds
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
Assessment 2: The following items were drawn.. ats Skipped The following items were drawn from a...
Assessment 2: The following items were drawn.. ats Skipped The following items were drawn from a company's accounting records: (1) Accounts receivable (2) Accounts payable (3) Cash paid to purchase land eBook (4) Supplies (5) Supplies expense (6) Cash collected for service to be provided in the future (7) Unearned revenue (8) Prepaid rent (9) Earned Revenue (10) Accrued salaries expense (11) Common stock (12) Dividends (13) Cash paid for prepaid rent (14) Retained earnings Which of the items listed...
Assessment 1: The following items were drawn... points Skipped The following items were drawn from a...
Assessment 1: The following items were drawn... points Skipped The following items were drawn from a company's accounting records: Book (1) Accounts receivable (2) Accounts payable (3) Cash paid to purchase land (4) Supplies (5) Supplies expense (6) Cash collected for service to be provided in the future (7) Unearned revenue (8) Prepaid rent (9) Earned Revenue (10) Accrued salaries expense (11) Common stock (12) Dividends (13) Cash paid for prepaid rent (14) Retained earnings Which of the items listed...
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 = $
Which of the following is not considered a cash equivalent? Select one: a. Accounts receivable. b....
Which of the following is not considered a cash equivalent? Select one: a. Accounts receivable. b. Money market funds. c. Treasury bills. d. High-grade commercial paper. 6
Cash Equivalents Pueblo Industries invested its excess cash in the following instruments during December 2016: Certificate...
Cash Equivalents Pueblo Industries invested its excess cash in the following instruments during December 2016: Certificate of deposit, due January 31, 2017 $49,000 Certificate of deposit, due June 30, 2017 95,000 Investment in City of Elm bonds, due May 1, 2018 15,000 Investment in Quantum Data stock 66,000 Money market fund 105,000 90-day Treasury bills 91,500 Treasury note, due December 1, 2017 200,000 Required: Determine the amount of cash equivalents that should be combined with cash on the company's balance...
Knowledge Check 01 Identify cash equivalents from the listed items. (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Money market funds Supplies Three-month Treasury bills Accounts receivable Prepaid rent
23. All of the following are considered to be "cash equivalents" except A. Treasury bills B. Commercial paper C. money market funds D. bond funds
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
Assessment 2: The following items were drawn.. ats Skipped The following items were drawn from a company's accounting records: (1) Accounts receivable (2) Accounts payable (3) Cash paid to purchase land eBook (4) Supplies (5) Supplies expense (6) Cash collected for service to be provided in the future (7) Unearned revenue (8) Prepaid rent (9) Earned Revenue (10) Accrued salaries expense (11) Common stock (12) Dividends (13) Cash paid for prepaid rent (14) Retained earnings Which of the items listed...
Assessment 1: The following items were drawn... points Skipped The following items were drawn from a company's accounting records: Book (1) Accounts receivable (2) Accounts payable (3) Cash paid to purchase land (4) Supplies (5) Supplies expense (6) Cash collected for service to be provided in the future (7) Unearned revenue (8) Prepaid rent (9) Earned Revenue (10) Accrued salaries expense (11) Common stock (12) Dividends (13) Cash paid for prepaid rent (14) Retained earnings Which of the items listed...
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 = $
Which of the following is not considered a cash equivalent? Select one: a. Accounts receivable. b. Money market funds. c. Treasury bills. d. High-grade commercial paper. 6
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