Homework Answers
C.Actual money on hand as well as savings and checking accounts.
cash means actual money on hand and also money in savings and checking accounts
cash equivalents refer to investments which have a maturity of less than 3 months.
money due for services , deposits in bonds and stocks do not qualify to be cash equivalents in the given case.
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Cash and cash equivalents refers to which one of the following? Cash that is invested in...
Sweep account refers to: a. an account that sweeps cash from checking to personal savings. b....
Sweep account refers to: a. an account that sweeps cash from checking to personal savings. b. an account that sweeps zero balance account to an interest bearing account. c. an account that allows the small business owner to sweep funds between personal and business accounts. d. All of these
Bad debt refers to which one of the following? The amount of an asset used up...
Bad debt refers to which one of the following? The amount of an asset used up during a specific accounting period. Investments made by the organization that lose money, but still have balances due. The amount of money owed for services provided, excluding charity care, that is not expected to be recovered. The amount of money owed for services provided, including charity care, that is not expected to be recovered.
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...
Specter Co. combines cash and cash equivalents on the balance sheet. Using the following information, determine...
Specter Co. combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported on the year-end balance sheet for cash and cash equivalents. • $10,000 cash deposit in checking account. • $34,000 bond investment due in 20 years. $8,500 U.S. Treasury bill due in 1 month. $550, 3-year loan to an employee. $2,400 of currency and coins. $850 of accounts receivable. Checking account Bond investment U.S. Treasury bill Loan to an employee Currency and...
Cash Equivalents Singh Company invested its excess cash in the following instruments during December 2017: Certificate...
Cash Equivalents Singh Company invested its excess cash in the following instruments during December 2017: Certificate of deposit, due January 31, 2020 $ 75,000 Certificate of deposit, due March 30, 2018 125,000 Commercial paper, original maturity date February 28, 2018 125,000 Deposit into a money market fund 25,000 Investment in stock 65,000 90-day Treasury bills 100,000 Treasury note, due December 1, 2047 500,000 Required: < Determine the amount of cash equivalents that should be combined with cash on the company's...
Specter Co. combines cash and cash equivalents on the balance sheet. Using the following information, determine the amou...
Specter Co. combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported on the year-end balance sheet for cash and cash equivalents. $21,000 cash deposit in checking account. $56,000 bond investment due in 20 years. $14,000 U.S. Treasury bill due in 1 month. $1,100, 3-year loan to an employee. $4,600 of currency and coins. $1,400 of accounts receivable.
QUESTION 2 Which of the following is a contractual savings institution? (Lesson 8-9) O A credit...
QUESTION 2 Which of the following is a contractual savings institution? (Lesson 8-9) O A credit union O A savings and loan association O A life insurance company A mutual fund QUESTION 14 Which of the following is part of the first big economic question? (Lesson 3) O All of the answers are true. O How are goods and services produced? O What goods and services are produced? O For whom are goods and services produced? QUESTION 18 Which of...
The classification "Current Assets" refers to which one of the following? A measure of current assets...
The classification "Current Assets" refers to which one of the following? A measure of current assets to all current liabilities. The amount of money put aside for a "rainy day." Assets that will be used or consumed within one year or period. 93 The amount of money invested in plant and operations.
Which of the following would not be reported as "Cash and Cash Equivalents?" Money Market Account...
Which of the following would not be reported as "Cash and Cash Equivalents?" Money Market Account Certificate of Deposit Foreign Currency Notes Payable
4. Interest-paying checking accounts - Their features and uses What Are Interest-Paying Checking Accounts and How...
4. Interest-paying checking accounts - Their features and uses What Are Interest-Paying Checking Accounts and How Do They Work? Most interest-paying checking accounts exhibit characteristics of both checking and savings accounts. Specifically, they earn relatively high rates of interest, especially compared with regular savings accounts, and allow relatively limited check-writing privileges. They are available through depository and nondepository institutions, including commercial banks, savings banks, credit unions, stock brokerage firms, mutual funds, and other financial services companies. What are some of...
Bad debt refers to which one of the following? The amount of an asset used up during a specific accounting period. Investments made by the organization that lose money, but still have balances due. The amount of money owed for services provided, excluding charity care, that is not expected to be recovered. The amount of money owed for services provided, including charity care, that is not expected to be recovered.
Specter Co. combines cash and cash equivalents on the balance sheet. Using the following information, determine the amount reported on the year-end balance sheet for cash and cash equivalents. • $10,000 cash deposit in checking account. • $34,000 bond investment due in 20 years. $8,500 U.S. Treasury bill due in 1 month. $550, 3-year loan to an employee. $2,400 of currency and coins. $850 of accounts receivable. Checking account Bond investment U.S. Treasury bill Loan to an employee Currency and...
Cash Equivalents Singh Company invested its excess cash in the following instruments during December 2017: Certificate of deposit, due January 31, 2020 $ 75,000 Certificate of deposit, due March 30, 2018 125,000 Commercial paper, original maturity date February 28, 2018 125,000 Deposit into a money market fund 25,000 Investment in stock 65,000 90-day Treasury bills 100,000 Treasury note, due December 1, 2047 500,000 Required: < Determine the amount of cash equivalents that should be combined with cash on the company's...
QUESTION 2 Which of the following is a contractual savings institution? (Lesson 8-9) O A credit union O A savings and loan association O A life insurance company A mutual fund QUESTION 14 Which of the following is part of the first big economic question? (Lesson 3) O All of the answers are true. O How are goods and services produced? O What goods and services are produced? O For whom are goods and services produced? QUESTION 18 Which of...
The classification "Current Assets" refers to which one of the following? A measure of current assets to all current liabilities. The amount of money put aside for a "rainy day." Assets that will be used or consumed within one year or period. 93 The amount of money invested in plant and operations.
4. Interest-paying checking accounts - Their features and uses What Are Interest-Paying Checking Accounts and How Do They Work? Most interest-paying checking accounts exhibit characteristics of both checking and savings accounts. Specifically, they earn relatively high rates of interest, especially compared with regular savings accounts, and allow relatively limited check-writing privileges. They are available through depository and nondepository institutions, including commercial banks, savings banks, credit unions, stock brokerage firms, mutual funds, and other financial services companies. What are some of...
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