Homework Answers
| Item | Cash, Cash equivalent, | |
| or neither | ||
| 1 | Inventory for sale to customers | Neither |
| 2 | Investment with maturity of 80 days at purchase | Cash equivalent |
| 3 | Three month US treasury bill | Neither |
| 4 | Bank deposits | Cash |
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Determine whether the firm reports each of the following items as part of cash, cash equivalents,...
please show work Use the following to answer questions 1-4 Determine whether the firm reports each...
please show work
Use the following to answer questions 1-4 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 Inventory for sale to customers 2. Investment with a maturity of 80 days at purchase 3 Three month US Treasury Bill 4. Bank deposits Use the following to answer questions 5-8 Bank Reconciliation: Identify whether the item should be added or subtracted...
Determine whether the firm reports each of the following items as part of cash and cash...
Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Item Cash or Cash Equivalent? (yes/no) 1. Currency 2. Inventory for sale to customers 3. Balance in savings account 4. Checks 5. Accounts receivable 6. Investments purchased with maturities of less than three months
Use the following to answer questions 1-4 Determine whether the firm reports each of the following...
Use the following to answer questions 1-4 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 1 Inventory for sale to customers Investment with a maturity of 80 days at purchase Three month US Treasury Bill Bank deposits Use the following to answer questions 5-8 Bank Reconciliation: Identify whether the item should be added or subtracted from the bank balance or...
Use the following to answer questions 1 - 4 Determine whether the firm reports each of...
Use the following to answer questions 1 - 4 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 1 2. 3 Inventory that will be sold in 30 days 30 day US Treasury bill Accounts receivable to be collected in 30 days Investments with maturities of six months Use the following to answer questions 5-8 Bank Reconciliation: Identify whether the item...
Use the following to answer questions 1 - 4 Determine whether the firm reports each of...
Use the following to answer questions 1 - 4 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 1 2 | 3 4. Three month certificate of deposit (CD) Supplies Checks received Balance in checking account
answer questions 1-4 Determine whether the fire balance sheet. ether the firm reports each of the...
answer questions 1-4 Determine whether the fire balance sheet. ether the firm reports each of the following items as part of cash, cash equivalents, or neither in the Item Cash, Cash equivalent, or neither 1 Inventory for sale to customers 2.1 Investment with vestment with a maturity of 80 days at purchase 3 Three month US Treasury Bill 4. Bank deposits Use the following to answer questions 5-8 bank Reconciliation: Identify whether the item should be added or subtracted from...
Determine whether the firm reports each of the following items as part of cash and cash...
Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Item Cash or Cash Equivalent? (yes/no) 1. Currency 2. Inventory for sale to customers 3. Balance in savings account 4. Checks 5. Accounts receivable 6. Investments purchased with maturities of less than three months Below are several statements about occupational fraud. Required: Select whether the answer to each of the statements is true or false. Statements For most large...
Part 1. Indicate whether each of the following items of a firm would be associated with...
Part 1. Indicate whether each of the following items of a firm would be associated with a cash inflow (I), cash outflow (O), or noncash item (N) and under which category each would be reported on a statement of cash flows: Operating Activities (OA), Investing Activities (IA), Financing Activities (FA), or not on the statement (NOS). ITEM CLASSIFIED AS I, O or N REPORTED UNDER OA, IA, FA or NOS 1. Cash the firm paid to suppliers 2. Sale of...
IIII For each of the following items, tell whether it is a cash inflow or cash...
IIII
For each of the following items, tell whether it is a cash inflow or cash outflow and the section of the statement of cash flows in which the item would appear. (Assume the direct method is used.) Item Inflow or Outflow Section of the Statement a. Cash collected from customers b. Proceeds from issue of stock C. Interest payment on loan d. e. f. g. h. i. j. Principal repayment on loan Cash paid for advertising Proceeds from sale...
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...
please show work
Use the following to answer questions 1-4 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 Inventory for sale to customers 2. Investment with a maturity of 80 days at purchase 3 Three month US Treasury Bill 4. Bank deposits Use the following to answer questions 5-8 Bank Reconciliation: Identify whether the item should be added or subtracted...
Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Item Cash or Cash Equivalent? (yes/no) 1. Currency 2. Inventory for sale to customers 3. Balance in savings account 4. Checks 5. Accounts receivable 6. Investments purchased with maturities of less than three months
Use the following to answer questions 1-4 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 1 Inventory for sale to customers Investment with a maturity of 80 days at purchase Three month US Treasury Bill Bank deposits Use the following to answer questions 5-8 Bank Reconciliation: Identify whether the item should be added or subtracted from the bank balance or...
Use the following to answer questions 1 - 4 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 1 2. 3 Inventory that will be sold in 30 days 30 day US Treasury bill Accounts receivable to be collected in 30 days Investments with maturities of six months Use the following to answer questions 5-8 Bank Reconciliation: Identify whether the item...
Use the following to answer questions 1 - 4 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 1 2 | 3 4. Three month certificate of deposit (CD) Supplies Checks received Balance in checking account
answer questions 1-4 Determine whether the fire balance sheet. ether the firm reports each of the following items as part of cash, cash equivalents, or neither in the Item Cash, Cash equivalent, or neither 1 Inventory for sale to customers 2.1 Investment with vestment with a maturity of 80 days at purchase 3 Three month US Treasury Bill 4. Bank deposits Use the following to answer questions 5-8 bank Reconciliation: Identify whether the item should be added or subtracted from...
Determine whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet. Item Cash or Cash Equivalent? (yes/no) 1. Currency 2. Inventory for sale to customers 3. Balance in savings account 4. Checks 5. Accounts receivable 6. Investments purchased with maturities of less than three months Below are several statements about occupational fraud. Required: Select whether the answer to each of the statements is true or false. Statements For most large...
IIII
For each of the following items, tell whether it is a cash inflow or cash outflow and the section of the statement of cash flows in which the item would appear. (Assume the direct method is used.) Item Inflow or Outflow Section of the Statement a. Cash collected from customers b. Proceeds from issue of stock C. Interest payment on loan d. e. f. g. h. i. j. Principal repayment on loan Cash paid for advertising Proceeds from sale...
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...
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