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4 years ago

The following information pertains to Blossom Company.

Business

1 answer:

melamori03 [73]4 years ago

4 0

Answer:

Explanation:

(A) The preparation of the bank reconciliation statement on July 31, 2017 is presented in the spreadsheet. Kindly find the attachment below:

(B) The journal entries are shown below:

Cash A/c Dr $2,576

To Accounts receivable $,2576

(Being cash is collected)

Bank service charges expense A/c Dr $51

To Cash A/c $51

(Being bank service charges paid)

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20% of your income is meant for your savings, investments, and payments to reduce debt. What are the potential risks of having a

jekas [21]

We can never be sure if debt will remain at a steady level, or better, go down to zero, thus it could potentially reduce the amount left from the 20% which is also allotted for your savings, investments. Also, the amount needed for investment may suddenly rise depending on the economical situation of the country.

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3 years ago

Short-term investments: Select one: a. Are securities that management intends to convert to cash within the longer of one year o

PilotLPTM [1.2K]

Answer:

a. Are securities that management intends to convert to cash within the longer of one year or the current operating cycle.

Explanation:

Short term investments are those which are more liquid and readily convertible into cash within a short span of time usually in lesser than an year.

Examples of short term investments would be money market instruments, treasury bonds, marketable securities, commercial papers, certificate of deposits etc.

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Also, these investments yield handsome return given the time period for which these are invested.

Investing in long term instruments such as debt would make it cumbersome to realize the money quickly as per need and those are less liquid.

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4 years ago

TRUE or FALSE

Alex17521 [72]

Answer:

1. True

2. True

3. True

4. False

5. True

Explanation:

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3 years ago

Read 2 more answers

A convenience store owner is contemplating putting a large neon sign over his store. It would cost $50,000, but is expected to

Radda [10]

Answer: No, since the value of the cash flows over the first two years are less than the initial investment

Explanation:

value of cash flows for the first two years = $48,000 (24,000x2)

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3 years ago

Suppose that you have been given a summer job as an intern at Issac Aircams, a company that manufactures sophisticated spy camer

Phoenix [80]

Answer:

Product Costs :

2. Rent on equipment used in the factory.

3. Lubricants used for machine maintenance.

5. Soap and paper towels used by factory workers at the end of a shift.

6. Factory supervisors salaries

7. Heat, water, and power consumed in the factory.

10. Workers compensation insurance for factory employees.

11. Depreciation on chairs and tables in the factory lunchroom.

15. The cost of packaging the company`s product.

Period Costs :

1. Depreciation on salespersons cars.

4. Salaries of personnel who work in the finished goods warehouse.

8. Materials used for boxing products for shipment overseas.

9. Advertising costs.

12. The wages of the receptionist in the administrative offices.

13. Cost of leasing the corporate jet used by the company`s executives.

14. The cost of renting rooms at a Florida resort for the annual sales conference.

Explanation:

Product Costs are Costs attached to Product and Included in Valuation.

Period Costs are Not Attached to Products and are expended in Income Statement during the Period in which they are incurred.

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3 years ago