Below are several amounts reported at the end of the year. Currency located at the company Supplies Short-term investments that mature within three months Accounts receivable Balance in savings account Checks received from customers but not yet deposited Prepaid rent Coins located at the company Equipment Balance in checking account Required: Calculate the amount of cash to report in the balance sheet. $ 600 1,400 1,500 1,700 6,700 200 1,000 100 7,600 4,400

Below are several amounts reported at the end of the year. Currency located at the company Supplies Short-term investments that mature within three months Accounts receivable Balance in savings account Checks received from customers but not yet deposited Prepaid rent Coins located at the company Equipment Balance in checking account Required: Calculate the amount of cash to report in the balance sheet. $ 600 1,400 1,500 1,700 6,700 200 1,000 100 7,600 4,400

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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es Specter Company 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. ● $7,000 cash deposit in checking account. . $28,000 bond investment due in 20 years. . $7,000 U.S. Treasury bill due in 1 month. . $400, 3-year loan to an employee. • $1,800 of currency and coins. . $700 of accounts receivable. Checking account Bond investment U.S. Treasury bill Loan to an employee. Currency and coins Accounts receivable $ Amount Total Cash and cash equivalents 7,000 28,000 7,000 400 1,800 700 Included in Cash and Cash Equivalents? Cash and Cash Equivalents Amount $ $ 0 0 0 0 0 0 0
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The following information is available for Birch Company at December 31: Cash in registers Investment maturing in 9 years Accounts receivable Cash in bank account Accounts payable Cash in petty cash fund Inventory of postage stamps U.S. Treasury bill maturing in 15 days Based on this information, Birch Company should report Cash and Cash Equivalents on December 31 of Multiple Choice O O $42136 $40,476 $39,381 $44,417 $ 2,970 $ 16,800 $ 1,925 $ 24,231 $830 $380 $36 $ 11,800 $56,181
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Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($85), an NSF check from a customer ($350), a customer’s note receivable collected by the bank ($1,000), and interest earned ($35). Required: Record the necessary entries to adjust the balance of cash.
The April 30, Current Year, bank statement and the April ledger account for cash showed the following (summarized): Balance, April 1, Current. Year Deposits during April Interest collected Checks cleared during April NSF check-A. B. Wright Bank service charges Balance, April 30, Current Year Debit April 1 Balance April Deposits BANK STATEMENT Cash balance Checks Cash (A) $45,500 270 150 Deposits $37,200 1,210 Credit 25,300 April Checks written 43,400 Balance $31,500 68,700 69,910 24,410 24,140 23,990 23,990 43,700 A comparison of checks written before and during April with the checks cleared through the bank showed outstanding checks at the end of April of $4,400 (including $2,600 written before and $1,800 written during April). No deposits in transit were carried over from March, but a deposit was in transit at the end of April. 3. What was the beginning balance in the cash account in the ledger on May 1, Current Year?
Bourne Incorporated reports a cash balance at the end of the month of $2,620. A comparison of the company's cash records with the monthly bank statement reveals several additional cash transactions: bank service fees ($85), an NSF check from a customer ($350), a customer’s note receivable collected by the bank ($1,000), and interest earned ($35). Required: Record the necessary entries to adjust the balance of cash. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) 2 Service Fee Expense selected answer correct 85 selected answer correct Notes receivable incorrect answer please help me finish the problem i keep getting stuck. Its not -85 for credit and its not -35 so what is it
Below are several amounts reported at the end of the year. Currency located at the company Supplies Short-term investments that mature within three months Accounts receivable Balance in savings account Checks received from customers but not yet deposited Prepaid rent Coins located at the company Equipment Balance in checking account Required: Calculate the amount of cash to report in the balance sheet. $ 925 2,700 1,825 3,000 8,000 525 1,325 120 8,900 5,700
Subject:- accounting