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3 years ago

Which of the following is not considered cash for financial reporting purposes?

2 answers:

5 0

Answer: The following is not considered cash for financial reporting purposes: Postdated checks and I. O. U.'s

A post-dated checks is a referred to as a check signed by the drawer for a date in the future.

whereas;

IOU which is further abbreviated as "I owe you" is an informal agreement acknowledging debt.It is different from a promissory note i.e. It is not a negotiable instrument and does not classify repayment keywords.

uysha [10]3 years ago

3 0

Answer:

The correct answer is letter "D": Postdated checks and I. O. U.'s.

Explanation:

"Cash" is classified, for accounting purposes, as any financial resource which can easily be transformed into real cash. Examples of cash are coins, currency, checks, money orders, bank drafts, or Certificates of Deposit (CD). Cash is the default exchange medium for products and services to be exchanged, at its basic level.

I.O.U. or "I owe you" is a term commonly used in accounting related to accounts receivables. These are not considered cash since they have an extended repayment term.

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A production facility employs 10 workers on the day shift, 8 workers on the swing shift, and 6 workers on the graveyard shift. A

prisoha [69]

Answer:

The answer is below

Explanation:

A What is the probability that all 4 selected workers will be the day shift?

B What is the probability that all 4 selected workers will be the same shift?

C What is the probability that at least two different shifts will be represented among the selected workers.

The total number of workers = 10 + 8 + 6 = 24

The probability that all 4 selected workers will be the day shift is given as:

$P_a=\frac{C(10,4)}{C(24,4)}= \frac{210}{10626}=0.0198$

$C(n,r)=\frac{n!}{(n-r)!r!}$

B) The probability that all 4 selected workers will be the same shift ( $P_B$ ) = probability that all 4 selected workers will be the day shift + probability that all 4 selected workers will be the swing shift + probability that all 4 selected workers will be the graveyard shift.

Hence:

$P_B=\frac{C(10,4)}{C(24,4)}+\frac{C(8,4)}{C(24,4)}+\frac{C(6,4)}{C(24,4)}=0.0198+0.0066+0.0014=0.0278$

C) The probability that at least two different shifts will be represented among the selected workers ( $P_C$ )= 1 - the probability that all 4 selected workers will be the same shift( $P_B$ )

$P_C=1-P_B\\\\P_C=1-0.0278\\\\P_C=0.972$

7 0

2 years ago

abares Corporation had these transactions during 2020. Indicate whether each transaction is an operating activity, investing act

scZoUnD [109]

Answer:

(a) Issued $50,000 par value common stock for cash = Financing Activities

b) Purchased a machine for $30,000, giving a long-term note in exchange. Financing Activities = Non-cash Investing and Financing Activity

(c) Issued $200,000 par value common stock upon conversion of bonds having a face value of $200,000 = Non-cash Investing and Financing Activities

(d) Declared and paid a cash dividend of $18,000 = Financing Activities

(e) Sold a long-term investment with a cost of $15,000 for $15,000 cash = Investing Activities

(f) Collected $16,000 from sale of goods = Operating Activities

Explanation:

The Cash flows related to raising of capital is known as Cash flow from Financing Activities.

The Cash flows related to growing and selling of Assets of the business is known as Cash flow from Investing Activities.

The Cash flow related to trade in Ordinary course business of the Company is known as Cash flow from Operating Activities.

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2 years ago

Transfer payments alter household income, but they do not reflect the economy's production.

Dominik [7]

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2 years ago

An organization owned by stockholders that accepts deposits, processes payments, and

Oxana [17]

Answer:

A Bank

Explanation:

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2 years ago

Taylor takes her employees' opinions into consideration via reasoning and discussion when making departmental decisions. Which o

qwelly [4]

Answer:

A. Flexible

Explanation:

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2 years ago