FINANCIAL & MANAGERIAL ACCOUNTING (ACCES
9th Edition
ISBN: 9781265484040
Author: Wild
Publisher: MCG
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Chapter 6, Problem 5E
To determine
Concept Introduction:
Cash and cash equivalent: Cash includes currency, coins, and deposits in banks, including checking accounts and saving accounts. The cash equivalent term includes short-term highly liquid investment assets that can be easily converted to cash or suitably close to the due dates of making it cash.
The amount reported in the year-end
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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.
.
.
.
.
$5,000 cash deposit in checking account.
$24,000 bond investment due in 20 years.
$6,000 U.S. Treasury bill due in 1 month.
$300, 3-year loan to an employee.
$1,400 of currency and coins.
$600 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
5,000
24,000
6,000
300
1,400
600
Included in
Cash and
Cash
Equivalents?
Cash and
Cash
Equivalents
Amount
$
$
0
0
0
0
0
0
0
Specter Co. 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.
$19,000 cash deposit in checking account.
$52,000 bond investment due in 20 years.
$13,000 U.S. Treasury bill due in 1 month.
$1,000, 3-year loan to an employee.
$4,200 of currency and coins.
$1,300 of accounts receivable.
Checking account
Bond investment
U.S. Treasury bill
Loan to an employee
Currency and coins
Accounts receivable
Cash and cash equivalents
$
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.
$13,000 cash deposit in checking account.
• $40,000 bond investment due in 20 years.
$10,000 U.S. Treasury bill due in 1 month.
$700, 3-year loan to an employee.
$3,000 of currency and coins.
$1,000 of accounts receivable.
Included in
Cash and Cash Equivalents
Equivalents?
Cash and Cash
Amount
Amount
Checking account
$4
13,000
Bond investment
40,000
U.S. Treasury bill
10,000
700
Loan to an employee
Currency and coins
3,000
Accounts receivable
1,000
Total Cash and cash equivalents
Chapter 6 Solutions
FINANCIAL & MANAGERIAL ACCOUNTING (ACCES
Ch. 6 - Prob. 1QSCh. 6 - Prob. 2QSCh. 6 - Prob. 3QSCh. 6 - Prob. 4QSCh. 6 - Prob. 5QSCh. 6 - Prob. 6QSCh. 6 - Prob. 7QSCh. 6 - Prob. 8QSCh. 6 - Prob. 9QSCh. 6 - Prob. 10QS
Ch. 6 - Prob. 11QSCh. 6 - Prob. 12QSCh. 6 - Prob. 13QSCh. 6 - Prob. 14QSCh. 6 - Prob. 15QSCh. 6 - Prob. 16QSCh. 6 - Prob. 1ECh. 6 - Prob. 2ECh. 6 - Prob. 3ECh. 6 - Prob. 4ECh. 6 - Prob. 5ECh. 6 - Prob. 6ECh. 6 - Prob. 7ECh. 6 - Prob. 8ECh. 6 - Prob. 9ECh. 6 - Prob. 10ECh. 6 - Prob. 11ECh. 6 - Prob. 12ECh. 6 - Prob. 13ECh. 6 - Prob. 14ECh. 6 - Prob. 15ECh. 6 - Prob. 16ECh. 6 - Prob. 17ECh. 6 - Prob. 1PSACh. 6 - Prob. 2PSACh. 6 - Prob. 3PSACh. 6 - Prob. 4PSACh. 6 - Prob. 5PSACh. 6 - Prob. 1PSBCh. 6 - Prob. 2PSBCh. 6 - Prob. 3PSBCh. 6 - Prob. 4PSBCh. 6 - Prob. 5PSBCh. 6 - Prob. 6SPCh. 6 - Prob. 1GLPCh. 6 - Prob. 1.1AACh. 6 - Prob. 1.2AACh. 6 - Prob. 1.3AACh. 6 - Prob. 1.4AACh. 6 - Prob. 1.5AACh. 6 - Prob. 2.1AACh. 6 - Prob. 2.2AACh. 6 - Prob. 3.1AACh. 6 - Prob. 3.2AACh. 6 - Prob. 3.3AACh. 6 - Prob. 3.4AACh. 6 - Prob. 1DQCh. 6 - Prob. 2DQCh. 6 - Prob. 3DQCh. 6 - Prob. 4DQCh. 6 - Prob. 5DQCh. 6 - Prob. 6DQCh. 6 - Prob. 7DQCh. 6 - Prob. 8DQCh. 6 - Prob. 9DQCh. 6 - Prob. 10DQCh. 6 - Prob. 11DQCh. 6 - Prob. 12DQCh. 6 - Prob. 13DQCh. 6 - Prob. 14DQCh. 6 - Harriet Knox, Ralph Patton, and Marcia Diamond...Ch. 6 - Prob. 2BTNCh. 6 - Prob. 3BTNCh. 6 - Prob. 4BTN
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