None Crane Company has recorded the following items in its financial records.Cash in bankChecking account$51,000Money market fund37,000Payroll account27,000Certificate of deposit (matures in 2 months)29,000Certificate of deposit (matures in 12 months)34,000Total cash in bank$178,000Cash in plant expansion fund144,000Cash on hand35,000Highly liquid investmentsPetty cashReceivables from customers54,0002,700123.000Stock investments:US Treasury bills85,00044,000The highly liquid investments (Commercial Paper) had maturities of 3 months or less when they were purchased. The stock investments will be sold in the next 6 to 12 months. The plant expansion project will begin in 3 years.(a) What amount should Crane report as "Cash and cash equivalents on its balance sheet?Cash and cash equivalents$

Add all of these accounts to find cash and cash equivalents:Checking account51000Money market…

Answered: Crane Company has recorded the…

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter23: Statement Of Cash Flows

Section: Chapter Questions

Problem 5CE

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Normanby Bank has the following balance sheet. Assets ($ million) Liabilities and equity ($ million) Treasury notes 85 Deposits 125 Loans 115 Interbank funds 55 Equity 20 Total assets 200 Total liabilities and equity 200 One of Normanby Bank’s wholesale customers decides to make an immediate deposit withdrawal of $15 million. To fund this withdrawal request, the bank adopts a liability liquidity management approach via the interbank funds market. Which of the following statements is CORRECT? Select one: a. After the transactions, the bank has 140m in deposits, 40m in interbank funds, and total assets remain unchanged. b. After the transactions, the bank has 110m in deposits, 40m in interbank funds, and 170m in total assets. c. After the transactions, the bank has 125m in deposits, 70m in interbank funds, and 215m in total assets. d. After the transactions, the bank has 110m in deposits,…
Derby Bank has the following balance sheet. Assets ($ million) Liabilities and equity ($ million) Treasury notes 100 Deposits 175 .oans 200 Overnight purchased funds 120 Non-earning assets 50 Equity 55 otal assets 350 Total liabilities and equity 350 One of Derby Bank's wholesale customers decides to maketan immediate deposit withdrawal of $35 million, and the bank adopts an asset liquidity management approach by liquidating Treasury notes to fund this withdrawal request. Which of the following statements is CORRECT? Select one: O a. After the transactions, the bank has 100m in Treasury notes, 140m in deposits, 155m in overnight purchased funds, and 350m in total assets. Ob. After the transactions, the bank has 65m in Treasury notes, 140m in deposits, and 350m in total assets. Oc. After the transactions, the bank has 65m in Treasury notes, 140m in deposits, and 315m in total assets. Od. After the transactions, the bank has 135m in Treasury notes, 210m in deposits, and 385m in total…
The cash account of Palawan Company included the following items: Bank draft from customer 10,000 Bond sinking fund - cash (bond is repayable on January 31, 2017) 10,000 Bond sinking fund - cash (bond is repayable on June 30, 2018) 10,000 Cash in bank(with legally restricted compensating balance of 10,000) Cash in savings account 20,000 10,000 Cash set aside for plant expansion (to be disbursed on March 23, 2017) Cashier's check Checking account at BPI Checking account at Metrobank Employees' postdated check Foreign bank account – restricted Money order from customer 10,000 10,000 10,000 (10,000) 10,000 10,000 10,000
a) Bank A has the following balance sheet (in millions): Assets Cash Securities Loans Total assets $70 The bank is expecting a $12 million net deposit drain. Liabilities and equity Deposits Equity Total liabilities and equity $5 10 55 $62 9 $70 ii) Show the new balance sheet if the bank uses stored liquidity management to offset the expected drain. Also, explain the effect on the size and composition of assets and liabilities.
PROOF OF CASH PROBLEM Pacho Enterprises has the following information about cash account Bank balance, beginning ( 11,500.00) Bank receipts ( 125,000.00) Bank wihdrawal ( 50,000.00) Book balance, beginning ( 9,000.00) Deposit in transits last month ( 2,000.00) Deposit in transits this month ( 4,500.00) Total collections during the month ( 32,500.00) Total disbursements during the month ( 49,900.00) Uncleared checks last month ( 5,000.00) Uncleared checks this month ( 7,500.00) Additional information 1 Macho check was debited to our bank account ( 6,600.00) 2 The bank debited our account as service charge for the month ( 1,000.00) 3 Last month bank services charged were not adjusted ( 500.00) 4 Bank credited the loan proceeds net of P5000 as interest ( 95,000.00) 5 The company owned check was returned due to last of signature ( 5,000.00) Required:P A. Proof of cash statement B. Adjusting journal entries
The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
The breakdown of the Cash and Cash Equivalents account of b Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
Question: Given below is the balance sheet for the Bank of New Providence: Assets ($1,000,000s) Liabilities ($1,000,000s) Cash 52 Deposits 650 T-bills and Bonds 257 Long-term debt 326 Loans to Other Banks 95 Equity 88 Commercial Loans 364 Mortgages 296 Total 1,064 Total 1,064 The net profit for the bank was $10.3 million. A required reserve is specified at 5% of deposits. What is the bank's ROA?
The breakdown of the Cash and Cash Equivalents account of C Corporation as of December 31, 2021 is as follows:Cash on hand 135,000Cash funds 5,450,000Cash in bank 8,900,000Investments 2,400,000Some relevant items related to cash on hand are presented below:• Included in the balance are as follows:o A check received from a customer dated January 5, 2022, P5,000o A customer check dated November 11, 2021, P12,000o A customer check dated February 4, 2021, P5,000o Unused postage stamps, P800o An undelivered check dated December 28, 2021, P24,000• Excluded from the balance are as follows:o A customer check dated December 30, 2021, P10,000o An undelivered check dated December 30, 2021, P8,000o A customer check dated March 31, 2021, P1,000o Money order, P4,500Relevant information regarding the cash funds are as follows:• The petty cash fund balance is at P20,000. As of December 31, 2021, included in the fund are bills and coins forP8,000, and various expense vouchers at P12,000.• Dividend…
a) Bank A has the following balance sheet (in millions): Assets Cash Securities Loans Total assets $5 10 55 $70 Liabilities and equity Deposits Equity Total liabilities and equity The bank is expecting a $12 million net deposit drain. $62 8 $70 i) Show the new balance sheet if the bank uses purchased liquidity management to offset the expected drain. Also, explain the effect on the size and composition of assets and liabilities ii) Show the new balance sheet if the bank uses stored liquidity management to offset the expected drain. Also, explain the effect on the size and composition of assets and liabilities.

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