Homework Answers
| Solution: | ||
| CALCULATION OF CASH AND CASH EQUIVALENTS | ||
| AT DECEMBER 31 | ||
| Cash in bank saving account | $ 73,600 | |
| Cash on Hand | $ 13,700 | |
| Chequing account balance | $ 19,800 | |
| Post dated cheques from Yu Corporation | $ 450 | |
| Total | $ 1,07,550 | |
| Notes: 1 | ||
| Investment in market securties having maturity less than 90 days is taken | ||
| Below investment maturity period is greater than 30 Days so not taken. | ||
| Gauranteed investment certificates (180 dayst to Maturity) | ||
| Notes: 2 | Cash refund due from income tax department is not taken and credit card owed by | |
| crane is current liabilities so not taken | ||
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Crane Enterprises Inc. has the following account balances at December 31, 2018: Cash in bank savings...
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...
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?
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 $
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
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...
Brief Exercise 7-1 Marigold Enterprises owns the following assets at December 31, 2017 Cash in bank-savings...
Brief Exercise 7-1 Marigold Enterprises owns the following assets at December 31, 2017 Cash in bank-savings account Cash on hand Cash refund due from IRS 65,000 9,850 35,500 Checking account balance Postdated checks Certificates of deposit (180-day) 25,700 910 95,390 ody. 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
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;...
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 $
Oriole Corporation had the following balances in its accounting records at August 31, 2018: Restricted cash...
Oriole Corporation had the following balances in its accounting records at August 31, 2018: Restricted cash for bank as a compensating balance $32,500 Cheque dated September 15, 2018 from Alters Inc. 5,250 U.S. bank account with an equivalent balance of $13,100 Canadian 13,100 Savings account balance 31,600 Customer cheque dated January 28, 2018, 1,800 Treasury bill (60-day terms) 22,700 Bank overdraft in chequing account 9,200 (a) What amount should Oriole report as cash and cash equivalents on August 31? Cash...
Oriole Corporation had the following balances in its accounting records at August 31, 2018: Restricted cash...
Oriole Corporation had the following balances in its accounting records at August 31, 2018: Restricted cash for bank as a compensating balance Cheque dated September 15, 2018 from Alters Inc. U.S. bank account with an equivalent balance of $12,200 Canadian Savings account balance Customer cheque dated January 28, 2018 Treasury bill (60 day terms) Bank overdraft in chequing account $38,700 5,350 12,200 29,500 1,800 26,300 10,300 What amount should Oriole report as cash and cash equivalents at August 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...
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?
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 $
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...
Brief Exercise 7-1 Marigold Enterprises owns the following assets at December 31, 2017 Cash in bank-savings account Cash on hand Cash refund due from IRS 65,000 9,850 35,500 Checking account balance Postdated checks Certificates of deposit (180-day) 25,700 910 95,390 ody. 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
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;...
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 $
Oriole Corporation had the following balances in its accounting records at August 31, 2018: Restricted cash for bank as a compensating balance Cheque dated September 15, 2018 from Alters Inc. U.S. bank account with an equivalent balance of $12,200 Canadian Savings account balance Customer cheque dated January 28, 2018 Treasury bill (60 day terms) Bank overdraft in chequing account $38,700 5,350 12,200 29,500 1,800 26,300 10,300 What amount should Oriole report as cash and cash equivalents at August 31? Cash...
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