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Andrei [34K]
3 years ago
6

Below are several amounts reported at the end of the year. Currency located at the company $ 1,050 Supplies 3,200 Short-term inv

estments that mature within three months 1,950 Accounts receivable 3,500 Balance in savings account 8,500 Checks received from customers but not yet deposited 650 Prepaid rent 1,450 Coins located at the company 110 Equipment 9,400 Balance in checking account 6,200 Required: Calculate the amount of cash to report in the balance sheet.
Business
1 answer:
blondinia [14]3 years ago
5 0

Answer: $18,460

Explanation:

Amounts that will go towards the cash account at the end of the year include all actual cash, undeposited checks, bank balances and short term investments.

The Total amount of cash to report will therefore be;

= Currency located at the company + Short-term investments that mature within three months + Balance in savings account + Checks received from customers but not yet deposited + Coins located at the company + Balance in checking account

= 1,050+ 1,950 + 8,500 + 650 + 110 + 6,200

= $18,460

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Suppose the United States maintains a price floor for spinach. This policy might decrease revenues for spinach farmers if the: m
soldi70 [24.7K]

Answer:

Demand for spinach is elastic.

Explanation:

The price floor, which is maintained by the United States, is the minimum price for selling the goods. This price is set above the equilibrium price, which results in excess supply while demand for the same goods remains constant.

Since the prices for spinach cannot be set lower than the price floor and the policy is decreasing the revenue output for spinach farmers then this probably means that the prices are set too high which has decreased the demand for spinach. This means that the demand for spinach is elastic.

4 0
3 years ago
Imagine you are the owner of a natural gas company. You can either extract as much of the resource as fast as possible or delay
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Answer:

A

Explanation:

7 0
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As a marketing manager for kitch-it-tools, jim is frustrated with the way his organization markets their kitchen utensils. curre
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3 years ago
The newspaper reported last week that Bennington Enterprises earned $28 million this year. The report also stated that the firm�
rosijanka [135]

Answer: a). Firm's growth rate = 10.5%

b). Next year's earnings = $30,940,000.00

Explanation: Earnings growth rate is the percentage change in earnings given specific variables.

The firm's earnings growth rate g = Return on equity (ROE) × Retained earnings (b) = 0.15(0.70)

g =0.105 or 10.5%

In finding next year's earnings, we multiply the current earnings times one plus the growth rate.

Next year's earnings = Current earnings(1 + g)

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Next year's earnings = $30,940,000.00

7 0
3 years ago
Read 2 more answers
A firm has sales of $1,220, net income of $226, net fixed assets of $544, and current assets of $300. The firm has $101 in inven
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Answer:

11.97%

Explanation:

Common size statement value of inventory is where all accounts are expressed as a percentage of total assets.

Total assets = Net fixed assets + Current assets

= $544 + $300

= $844

Common size statement value of inventory = Inventory ÷ Total assets

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= 11.97%

4 0
3 years ago
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