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Deposits in foreign countries that are also subject to certain foreign exchange restrictions should be a. Valued at current exchange rates and shown as current assets b. Valued at historical exchange rates and presented as noncurrent assets c. Valued at current exchange rates and presented as noncurrent assets d. Valued at historical exchange rates and presented as current assets 9. Which of the following should be considered cash equivalents? a. Certificates of deposit b. Money market with checking account privileges c. Legally restricted compensating balances d. Postdated checks Travel advances should be reported as a. Supplies. b. Cash because they represent the equivalent of money. c. Investments. d. None of these.

Deposits in foreign countries that are also subject to certain foreign exchange restrictions should be a. Valued at current exchange rates and shown as current assets b. Valued at historical exchange rates and presented as noncurrent assets c. Valued at current exchange rates and presented as noncurrent assets d. Valued at historical exchange rates and presented as current assets 9. Which of the following should be considered cash equivalents? a. Certificates of deposit b. Money market with checking account privileges c. Legally restricted compensating balances d. Postdated checks Travel advances should be reported as a. Supplies. b. Cash because they represent the equivalent of money. c. Investments. d. None of these.

FINANCIAL ACCOUNTING
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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Pls answer the last 3 items (8, 9 and 10)
released checks e outstanding checks b. Are thered as certified checks c. Are part of the mayor's cash balance d. Should be a book-renciling item since the b has deducted this amount at arriving at the cash bnce in the bank atement. Which of the following should not cons red cash? a Petty cash fund b. Money orders c Coin, currency and funds waiting deposits d. Postdated checks 7. Which of the follows incorrect with regard to the valuation of sh and cash equivalents? a. Cash is ued at face value b. Ca denominated in foreign currency is translated using the closing rate C sh equivalents include interest that is to be received Cash deposited in a bank that has filed for bankruptcy should be written down to its net realizable value. Deposits in foreign countries that are also subject to certain foreign exchange restrictions should be a. Valued at current exchange rates and shown as current assets b. Valued at historical exchange rates and presented as noncurrent assets c. Valued at current exchange rates and presented as noncurrent assets d. Valued at historical exchange rates and presented as current assets s. Which of the following should be considered cash equivalents? a. Certificates of deposit b. Money market with checking account privileges c. Legally restricted compensating balances d. Postdated checks- to Travel advances should be reported as a. Supplies. b. Cash because they represent the equivalent of money. c. Investments. d. None of these.
Transcribed Image Text:released checks e outstanding checks b. Are thered as certified checks c. Are part of the mayor's cash balance d. Should be a book-renciling item since the b has deducted this amount at arriving at the cash bnce in the bank atement. Which of the following should not cons red cash? a Petty cash fund b. Money orders c Coin, currency and funds waiting deposits d. Postdated checks 7. Which of the follows incorrect with regard to the valuation of sh and cash equivalents? a. Cash is ued at face value b. Ca denominated in foreign currency is translated using the closing rate C sh equivalents include interest that is to be received Cash deposited in a bank that has filed for bankruptcy should be written down to its net realizable value. Deposits in foreign countries that are also subject to certain foreign exchange restrictions should be a. Valued at current exchange rates and shown as current assets b. Valued at historical exchange rates and presented as noncurrent assets c. Valued at current exchange rates and presented as noncurrent assets d. Valued at historical exchange rates and presented as current assets s. Which of the following should be considered cash equivalents? a. Certificates of deposit b. Money market with checking account privileges c. Legally restricted compensating balances d. Postdated checks- to Travel advances should be reported as a. Supplies. b. Cash because they represent the equivalent of money. c. Investments. d. None of these.
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