Beatty Solutions is determining the ending cash and cash equivalents for the December 31, 2020 balance Sh8t. THU TOIO • Checking account balance $400,000 . Travel advances of $50,000 for executive travel for the first quarter of next year. $1,500,000 set aside for the retirement of long-term debt. · A bank overdraft of $110,000. At the present time, the company has no deposits at this bank. • $500,000 in Treasury bills issued October 1, 2020 due March 31, 2021. • Beatty received a check dated January 2, 2021 in the amount of $105,000 from a customer as payment on account. $250,000 in Treanury bills issued December 1, 2020 due January 31, 2021. • Money market fund of $300,000 on which the company can write checks. What is the amount of cash and.cash equivalents.reported? OA $995,000 OB$1,450,000

Beatty Solutions is determining the ending cash and cash equivalents for the December 31, 2020 balance Sh8t. THU TOIO • Checking account balance $400,000 . Travel advances of $50,000 for executive travel for the first quarter of next year. $1,500,000 set aside for the retirement of long-term debt. · A bank overdraft of $110,000. At the present time, the company has no deposits at this bank. • $500,000 in Treasury bills issued October 1, 2020 due March 31, 2021. • Beatty received a check dated January 2, 2021 in the amount of $105,000 from a customer as payment on account. $250,000 in Treanury bills issued December 1, 2020 due January 31, 2021. • Money market fund of $300,000 on which the company can write checks. What is the amount of cash and.cash equivalents.reported? OA $995,000 OB$1,450,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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P8
A bank makes a 5-year $75,000 loan with no principal payments in years 1-2 and principal payments of $25,000 in Years 3, 4 and 5. The interest rate is 8% and will be paid every year. What interest and principal is paid in year 4 A $6,000 + $25,000 B $6,000+$50,000 C $4,000+$25,000 D $4,000+$50,000
Riley Company borrowed $32,000 on April 1, Year 1 from Titan Bank. The note issued by Riley carried a one-year term and a 8% annual interest rate. Riley earned cash revenues of $980 during Year 1 and $1,300 during Year 2. Assume no other transactions. Based on this information alone, what are the amounts of total liabilities that would appear on Riley's December 31 balance sheets for Year 1 and Year 2, respectively? Multiple Choice ○ $32,000 and $0 ○ $1,920 and $660 $33,920 and $0 $33,920 and $34,580
The following is a December 31, 2024, post-closing trial balance for Almway Corporation. Account Title Cash Investment in equity securities Accounts receivable Inventory Prepaid insurance (for the next 9 months) Land Buildings Accumulated depreciation-buildings Equipment Accumulated depreciation-equipment Patent (net) Accounts payable Notes payable Interest payable Bonds Payable Common stock Retained earnings Totals Debits $ 47,000 112,000 61,000 201,000 8,000 92,000 421,000 111,000 11,000 $ 1,064,000 Credits $ 101,000 61,000 77,000 133,000 21,000 241,000 303,000 127,000 $ 1,064,000 Additional information: 1. The investment in equity securities account includes an investment in common stock of another corporation of $31,000 which management intends to hold for at least three years. The balance of these investments is intended to be sold in the coming year. 2. The land account includes land which cost $26,000 that the company has not used and is currently listed for sale. 3. The cash…
On January 1, 2003, $12,500 was deposited into a savings account that earns 2.25% interest compounded monthly. On January 1, 2010, $2600 was deposited into the account and the bank changed the interest rate to 2.70% compounded monthly. On January 1, 2015, $5,800 was withdrawn from the account and the interest rate was lowered to 1.65% compounded monthly. A. If no other deposits, withdrawals , or rate changes occurs, how much money did the account have on January 1, 2019? B. Determine the total interest that was earned from January 1, 2019?
A lump sum deposit of $8,000 left in the bank for 12 years at 9% compounded annually will result in an ending balance of (select the closest answer) Group of answer choices $16,640. $96,000. $11,600. $22,501. $52,938.
Only typed answer On May 4, a company accepted an $8200 note in settlement of a bill. The note was for 190 days at 8.75% simple interest. If the company sells the note to a loan company at a 12.0% discount 60 days after receipt, the bank discount? The proceeds are?
mn,3
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