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kykrilka [37]
4 years ago
15

The company has $10,000 in its checking account, $20,000 in its savings account, $1,000 in petty cash, $25,000 in one-year treas

ury bills, and $15,000 in a money market fund. what amount should be reported as cash and cash equivalents on the balance sheet?
Business
1 answer:
padilas [110]4 years ago
8 0
$71,000, because that is how much moneyz they have, total. And what is "petty cash"?
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Scranton, Inc. reports net income of $260,000 for the year ended December 31. It also reports $100,700 depreciation expense and
Arlecino [84]

Answer:

$399,950

Explanation:

The computation of cash provided (used) in operating activities using the indirect method is shown below:-

Cash flow from operating activities

Net income reported           $260,000

Add:  depreciation expenses  $100,700

Less: gain on sale of equipment -$6,500

Add: decrease in accounts receivables $41,500

Add:  increase in accounts payable $18,750

Less: decrease in wages payable -$14,500

Cash flow from operating activities $399,950

We simply added the cash inflows and deduct the cash outflows to reach out the operating activities

5 0
3 years ago
Journalize the following transactions for Powell Company using the gross method of accounting for sales discounts. Assume a perp
Marianna [84]

Answer:

Jan 7

Dr Cost of Good Sold     7,860

Cr Inventory                    7,860

(to record the cost of good sold)

Dr Account Receivable          13,100

Cr Revenue                            13,100

( to record revenue and receivable owed from Stewart)

Jan 13

Dr Sales Returns                  2,620

Cr Account Receivable       2,620

(to record sales return from Stewart)

Dr Inventory                      2,620

Cr Cost of good sold       2,620

(to record inventory returns and decrease in cost of good sold due to sales return from Stewart)

Jan 18

Dr Cash                                10,480

Cr Account Receivable      10,480

( to record full collection from Stewart after 11 days)

* further working note on Jan 18 transaction: As Stewart had return $2,620 sales; the Receivable from Stewart is just $10,480 ( 13,100 - 2,620). Also, the term of receivable is 5/10, n/30; the repayment after 10 days received from Steward is not eligible for discount.

Explanation:

3 0
3 years ago
Only 3 days after the attacks of 9-11, Northwestern Mutual began providing death benefits to surviving families of the first res
Luda [366]

Answer:

Empathy

Explanation:

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This makes the business go the extra mile in solving the customer's problem.

In this scenario Northwestern mutual felt the pain and understood the financial needs of the families of first responders during the 9-11 attack.

So without official death certificates they paid death benefits only 3 days after the attacks.

Other insurance companies however did not empathise with their customers and only paid death benefits some months to a year.

5 0
4 years ago
Katie keeps a record of her transactions in a notebook. looking over her records for the past two weeks, katie finds that her ba
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For the given situation above, there is a lack of information which would be difficult for us to give you the answer that you are trying to find. You can resubmit again your questions along with the needed information. Thank you for posting though.
8 0
4 years ago
Read 2 more answers
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hoa [83]
I believe that the bonds issued by the U.S government are the saving bonds. Corporate bonds are bonds issued by corporations in order to raise money for business expansion. Junk bonds are types of bonds that are lower rated however, they are potentially higher-paying. Municipal bonds are bonds issued by a state or local government for the purpose of financing social amenities and infrastructure such as improvements of highways, state buildings, libraries, parks and schools.
8 0
4 years ago
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