Homework Answers
| Cash in bank savings account | $73600 |
| Cash in hand | $13700 |
| Chequing account balance | $19800 |
| Cash and cash equivalents to be reported | $107100 |
| Financial statements | Account | |
| Cash in bank savings account | Not Applicable | Not Applicable |
| Cash in hand | Not Applicable | Not Applicable |
| Cash Refund Due | Statement of Financial Position | Income Tax Recoverable |
| Chequing account balance | Not Applicable | Not Applicable |
| Postdated cheques | Statement of Financial Position | Accounts Receivable |
| Guaranteed investment certificate | Statement of Financial Position | Held for trading investment |
| Credit balance | Statement of Financial Position | Credit Card payable |
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Wiley PLUS Problem 7-5 Crane Enterprises Inc. has the following account balances at December 31, 2018:...
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 $
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...
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 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;...
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
On July 31, 2022, the general ledger of Crane Legal Services Inc. showed the following balances:...
On July 31, 2022, the general ledger of Crane Legal Services Inc.
showed the following balances: Cash $3,920, Accounts Receivable
$1,470, Supplies $490, Equipment $4,900, Accounts Payable $4,020,
Common Stock $3,430, and Retained Earnings $3,330. During August,
the following transactions occurred.
Aug.
3
Collected
$1,180 of accounts receivable due from customers.
5
Received
$1,270 cash for issuing common stock to new investors.
6
Paid
$2,650 cash on accounts payable.
7
Performed
legal services of $6,370, of which $2,940 was collected...
Problem 4-04 The following account balances were included in the trial balance of Swifty Corporation at...
Problem 4-04 The following account balances were included in the trial balance of Swifty Corporation at June 30, 2020. Sales revenue Sales discounts Cost of goods sold Salaries and wages expense (sales) Sales commissions Travel expense (salespersons) Delivery expense Entertainment expense Telephone and Internet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) $1,590,740 32,570 899,700 57,350 98,130 34,600 22,690 14,980 9,100 5,289 5,707 4,898 3,373 2,560...
Question 5 The following account balances were included in the trial balance of Vaughn Corporation at...
Question 5 The following account balances were included in the trial balance of Vaughn Corporation at June 30, 2017. Sales revenue Sales discounts Cost of goods sold Salaries and wages expense (sales) Sales commissions Travel expense (salespersons) Delivery expense Entertainment expense Telephone and Intenet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) $1,595,870 Depreciation expense (office furniture and equipment) 3,040Property tax expense 897,600 Bad debt expense...
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 $
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...
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
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;...
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
On July 31, 2022, the general ledger of Crane Legal Services Inc.
showed the following balances: Cash $3,920, Accounts Receivable
$1,470, Supplies $490, Equipment $4,900, Accounts Payable $4,020,
Common Stock $3,430, and Retained Earnings $3,330. During August,
the following transactions occurred.
Aug.
3
Collected
$1,180 of accounts receivable due from customers.
5
Received
$1,270 cash for issuing common stock to new investors.
6
Paid
$2,650 cash on accounts payable.
7
Performed
legal services of $6,370, of which $2,940 was collected...
Problem 4-04 The following account balances were included in the trial balance of Swifty Corporation at June 30, 2020. Sales revenue Sales discounts Cost of goods sold Salaries and wages expense (sales) Sales commissions Travel expense (salespersons) Delivery expense Entertainment expense Telephone and Internet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) $1,590,740 32,570 899,700 57,350 98,130 34,600 22,690 14,980 9,100 5,289 5,707 4,898 3,373 2,560...
Question 5 The following account balances were included in the trial balance of Vaughn Corporation at June 30, 2017. Sales revenue Sales discounts Cost of goods sold Salaries and wages expense (sales) Sales commissions Travel expense (salespersons) Delivery expense Entertainment expense Telephone and Intenet expense (sales) Depreciation expense (sales equipment) Maintenance and repairs expense (sales) Miscellaneous selling expenses Office supplies used Telephone and Internet expense (administration) $1,595,870 Depreciation expense (office furniture and equipment) 3,040Property tax expense 897,600 Bad debt expense...
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