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Murljashka [212]
3 years ago
9

Fenton Manufacturing Company at June 30: Cash in bank account $ 6,455 Inventory of postage stamps $ 74 Money market fund balance

$ 12,400 Petty cash balance $ 350 NSF checks from customers returned by bank $ 867 Postdated checks received from customers $ 391 Money orders $ 257 A nine-month certificate of deposit maturing on December 31 of current year $ 8,000 Based on this information, Fenton Manufacturing Company should report Cash and Cash Equivalents on June 30 of:
Business
1 answer:
Dmitrij [34]3 years ago
5 0

Answer:

$19,462

Explanation:

The computation of the cash and cash equivalent is shown below:

= Cash in bank account + Money market fund balance + petty cash balance + money orders

= $6,455 + $12,400 + $350 + $257

= $19,462

It includes only cash in bank account, balance in money market, petty cash balance and the money orders

All other information which is given is not relevant. Hence, ignored it

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In 2020, the Merkel Company had revenues of $2,600,000 and costs of $2,100,000. During 2021, Merkel will be introducing a new pr
Leona [35]

Answer:

$88,000

Explanation:

We know that

The operating profit = Revenues - cost

                                  = $2,600,000 - $2,100,000

                                  = $500,000

If there is increase, so the operating profit would be

= Revenues - cost

where

Revenues = $2,600,000 + $260,000

                 = $2,860,000

Cost = $2,100,000 + $172,000

        = $2,272,000

So, operating profit is

= $2,860,000 - $2,272,000

= $588,000

So, the increase in operating profit would be

= $588,000 - $500,000

=  $88,000

6 0
3 years ago
Hamasaki Company owns 30% of CDW Corp. stock and has significant influence. Hamasaki received $6,500 in cash dividends from its
Anuta_ua [19.1K]

Answer:

A. True

Explanation:

Account Title Debit Credit

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Investment in CDW Corp. 6500

4 0
3 years ago
Theresa and Bobbi bought a racecar together. They agreed to share all expenses and split net profits equally. There was no agree
mestny [16]

Answer:

<em>No she is not, a partner has the right to quit the partnership at any moment in a partnership at will. </em>

Explanation:

General partners get the option and ability to leave the joint venture at whatever moment, whereas limited and restricted partners are only allowed to leave the partnership in accordance with the terms of the partnership agreement.

Bobby is in accordance with the law to leave whenever, and hasn't broken any agreement.

Whenever a general or limited partner chooses to leave the joint venture, the business continues to remain unless it has been agreed by all partners to dissolve.

5 0
3 years ago
A limitation of bond ratings is that they ____
Andrej [43]

A limitation of bond ratings is that they focus exclusively on default risk.

When investing, the bond rating represents the creditworthiness of a corporate or government bond. It's not the same as a person's creditworthiness. Ratings are published by rating agencies and used by investment professionals to assess the likelihood of debt repayment.

Bond Rating is a character-based credit rating system used to assess bond quality and creditworthiness. Investment grade bonds are rated by Standard & Poor's from AAA to BBB- and by Moody's from Aaa to Baa3. Junk bonds have a lower rating.

Learn more about bond rating here:brainly.com/question/17667917

#SPJ4

8 0
1 year ago
In this blank graph of the business cycle, what does the red circled area on the grap
serg [7]

Answer:It is contraction

Explanation:It is at the smallest point

6 0
3 years ago
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