1 of 2On December 21 2017. Wildhorse Co. purchased $730,000 of commercial paper from Voight, Inc. The commercpaper matures January 14, 2018.Currency and coin on hand amounted to $10,446,A money market fund account held at Rogers, Inc. (a mutual fund organization) permits Wildhorse Co. to write cheeon the full account balance, which was $930,000 at December 31, 2017.Wildhorse Co. has agreed to maintain a cash balance of $200,000 at all times at First National Bank of Alexander toensure future credit availability.The balance in Wildhorse Co's petty cash fund is $400.During December 2017, Wildhorse Co. made travel advances to employees totaling $30,000 for executive travel that9.10.will occur during the first quarter of 2018. The employees will not reimburse the company for the advance, but arerequired to spend the funds on company-related travel and to submit receipts.The company received an LO.U. trom Stiller LLP, a company customer, on December 12. 2017. in the amount of $24,75011.(a)Compute the amount of cash and cash equivalents to be reported on Wildhorse Co's balance sheet at December 31, 2017.%24Cash and cash equivalents reported on December 31.2017, balance sheeteTextbook and MediaAttempts: unlimitedSubmit AverSave for Later%23&2.4.8.10WEYUGHKV BN M &B xO NWP Assessment Player U A xO NWP Assessment Player U A xament.education.wiley.com/was/ui/v2/assessment-player/index.html?launchid 14c42832-ebat-4365-bf90-5deUpdates AvailableDo you want to instal therk (A) Cash & Bank ReconciliationQuestion 1 of 2-/2 Eurrent AvempcmProgressThe controller for Wildhorse Co, is attempting to determine the amount of cash to be reported on its December 31, 2017, balancesheet. The folowing information is provided.Wildhorse received a post-datedgheck from a customer. The check is dated January 1. 2018, in the amount of $50.000.The company has a certificate of deposit of $82.000. The CD matures 120 days after its November 1, 2017 date oforigination.1.2.Wildhorse Co. holds a commercial savings account of $447,000 and a commercial checking account balance of$1.200,000 at First National Bank of Alexander. In addition, a bank overdraft of $84,000 existed at year-end in aseparate account that the company uses to deposit cash receipts at First National Bank of Alexander.Aseparate cash fund in the amount of $1.375,000 is set aside for the expansion of the company's New Jersey factory.On December 21. 2017, Wildhorse Co. purchased $730,000 of commercial paper from Voight. Inc. The commercialpaper matures January 14, 2018.Currency and coin on hand amounted to $10,446.Amoney market fund account held at Rogers, Inc. (a mutual fund organization) permits Wildhorse Co, to write checkson the full account balance, which was $930.000 at December 31, 2017.Wildhorse Co. has agreed to maintain a cash balance of $200.000 at all times at First National Bank of Alexander toensure future credit availablity.3.4.5.6.7.8.9.The balancein Wildhorse Co's petty cashfund is S400.During December 2017. Wildhorse Co. made travel advances to employees totaling 530,000 for executive travel thatwill occur during the first quarter of 2018. The employees will not reimburse the company for the advance, but arerequired to spend the funds on company related travel and to submit receipts.The company received an LO.U. from Stiller LLPa company customer, on December 12, 2017. in the amount of 24.750.10.11

Cash and Cash Equivalent : Cash and Cash Equivalent is the account on balance sheet stating the…

The controller for Wildhorse Co, is attempting to determine the amount of cash to be reported on its December 31, 2017, balance sheet. The following information is provided. Wildhorse received a post-datedgheck from a customer. The check is dated January 1. 2018, in the amount of $50,000. 1. The company has a certificate of deposit of $82.000. The CD matures 120 days after its November 1, 2017 date of 2. origination. Wildhorse Co. holds a commercial savings account of $447,000 and a commercial checking account balance of $1.200,000 at First National Bank of Alexander. In addition, a bank overdraft of $84,000 existed at year-end in a separate account that the company uses to deposit cash receipts at First National Bank of Alexander. Aseparate cash fund in the amount of $1,375,000 is set aside for the expansion of the company's New Jersey factory On December 21. 2017, Wildhorse Co. purchased $730.000 of commercial paper from Voight, Inc. The commercial 3. 4. 5. paper matures January 14, 2018. Currency and coin on hand amounted to $10.446. A money market fund account held at Rogers, Inc. (a mutual fund organization) permits Wildhorse Co, to write checks 6. 7. on the full account balance, which was S930,000 at December 31. 2017. Wildhorse Co. has agreed to maintain a cash balance of $200.000 at all times at First National Bank of Alexander to ensure future credit availability The balance in Wildvorse Co's petty cash fund is $400. During December 2017. Wildhorse Co. made travel advances to employees totaling $30,000 for executive travel that will occur during the first quarter of 2018. The employees will not reimburse the company for the advance, but are required to spend the funds on company related travel and to submit receipts The company received an LOU.from Stiler LLPacompany customer, on December 12. 2017. in the aniount of S24.750 8. 9. 10. 11

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q