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sveta [45]
3 years ago
15

A new accountant at Windsor, Inc. is trying to identify which of the following amounts should be reported as the current asset "

Cash and cash equivalents" in the year-end balance sheet, as of April 30, 2017. 1. $70 of currency and coin in a locked box used for incidental cash transactions. 2. A $11,100 U.S. Treasury bill, due May 31, 2017. 3. $300 of April-dated checks that Windsor has received from customers but not yet deposited. 4. An $96 check received from a customer in payment of its April account, but postdated to May 1. 5. $2,730 in the company’s checking account. 6. $5,210 in its savings account. 7. $70 of prepaid postage in its postage meter. 8. A $40 IOU from the company receptionist. (a) What balance should Windsor report as its "Cash and cash equivalents" balance at April 30, 2017?
Business
1 answer:
seropon [69]3 years ago
5 0

Answer:

The balance should Windsor report as its "Cash and cash equivalents" balance at April 30, 2017 is $19,410

Explanation:

The computation of the "Cash and cash equivalents" balance at April 30, 2017  is shown below:

= Currency amount + U.S treasury bill + check received in April month + checking account + saving account

= $70 + $11,100 + $300 + $2,730 + $5,210

= $19,410

The other given transactions would not be included because there is no outflow and inflow of cash for the April month. Hence, ignored it

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If a company adds 60 new workstations at a cost of $100,000 each and also spends $20 million for addition in its camera/drone as
vredina [299]

Answer:

$1,300,000

Explanation:

Given:

Number of workstation = 60

Cost of each workstation = $100,000

Additional Cost = 20,000,000

Computation of total cost:

= Total work station cost + Additional cost

= ($100,000 x 60) + $20,000,000

= $6,000,000 + $20,000,000

= $26,000,000

Assume Depreciation rate = 5%

Deprecation = Total Cost x Depreciation rate

= $26,000,000 x 5%

= $1,300,000

5 0
3 years ago
Why do governments exist? (Choose three responses)
Karo-lina-s [1.5K]
B. To provide law and order
3 0
3 years ago
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If a portfolio had a return of 11 the risk-free asset return was 6, and the standard deviation of the portfolios excess returns
Sindrei [870]

The premium would be 5%

If a portfolio had a return of 11 the risk-free asset return was 6, and the standard deviation of the portfolios excess returns was 25 the premium would be 5%

Portfolio return = 11%

Risk free rate = 6%

Risk premium = Portfolio return - Risk free rate

                         = 11% - 6% =5%

So, the premium would be 5%

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Learn more about premium here- https://economictimes.indiatimes.com/definition/premium

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4 0
1 year ago
bought 2,000 shares of Print Company stock for $12,780. She sold the stock for $7 per share and paid a sales commission of $26.
Svetach [21]

Answer:

$1,194

Explanation:

The buying price of the shares was  $12,780

The selling price was $7 dollars for each.

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3 years ago
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Answer:

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If you are constructing a portfolio to cover the education expenses of your child and you expect that he/she graduates from college in 15 years, then the time horizon of your portfolio should be 15 years since it should cover all the expenses until your child graduates. If you start a little earlier and expect your child to graduate in 20 years, the time horizon will be 20 years, or if you start a little later and expect your child to graduate in 10 year, then the time horizon is 10 years.

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