1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
The basic difference between a good and a service is that a good:
alexgriva [62]

Answer:

The correct answer is letter "B": can be physically touched.

Explanation:

Goods are those <em>material </em>assets that satisfy consumers' needs. Services are also provided to fulfill individuals' wants but they are <em>intangible</em>, meaning even if goods can be rendered from one person to another, services cannot be touched or perceived with the senses. The creation of goods and services to cover different types of necessities is what drives countries' economies.

6 0
3 years ago
When you encounter an organization where employees are quite intense, focused, and determined to win, you have encountered an or
vlada-n [284]

Answer: When you encounter an organization where employees are quite intense, focused, and determined to win, you have encountered an organization with a(n) <u>Mercenary</u> culture.

<u>Explanation:</u>

Mercenary is one who always works for money not for achieving any organizational goal. Mercenary culture is one in which employees have the same thinking. Employees are not friends with each other. It is the culture in which everyone thinks of his benefit. People are more determined to win even if they have to sacrifice their ethics.

So this type of culture is not very successful in the long run. Because everybody works for his or her advantage. For an organization to be successful everyone has to work together keeping in mind the benefit of other employees also.

5 0
2 years ago
A(n) _____ describes your core values and highest career goals.
Alenkinab [10]

Personal Mission Statement

4 0
2 years ago
Read 2 more answers
Mo has a credit card that gives a 3% discount on every purchase. The annual percentage rate on the card is 12%. He is purchasing
Luden [163]

Answer:

If Mo pays cash, the cost of the purchase will be $140.

If Mo uses the credit card and pays the full balance during the billing cycle, the cost of the purchase will be $135.80.

Explanation:

If Mo pays cash, it implies that she does not get the 3% discount she is entitled to, with the use of her credit card.  Therefore, she will bear the full cost.  However, if she uses the credit card, the discount is $4.20 ($1540 * 97%) and she will pay only $135.80 as the discounted price of the electronic reader.

5 0
3 years ago
Read 2 more answers
Suppose the price level reflects the number of dollars needed to buy a basket of goods containing one can of soda, one bag of ch
IgorC [24]

Answer:

price level fall and value of money is rises

Explanation:

given data

one year basket costs =  $10.00

two year two basket costs =  $9.00

one year buy baskets = $50

year two,buy baskets = $50

to find out

as the price level falls, the value of money  will be

solution

we see that when we compare to 1 year price go down from $10 to $ 9

so deflation at annual rate is \frac{10-9}{10} = 10%

so here

sum of $50 will be buy here = \frac{50}{10} = $5 in one year

and $ 50 buy in 2 year is = \frac{50}{9} = $5.56 in two year

so this is show here that price level fall and value of money is rises

4 0
3 years ago
Other questions:
  • The master budget at Western Company last period called for sales of 225,000 units at $9 each. The costs were estimated to be $3
    7·2 answers
  • Under the _____, people who enter the military for a total of five years can return to their private-sector jobs without risk of
    5·1 answer
  • What determines the value of an item?
    7·2 answers
  • _________ is calculated by taking _________ and then subtracting the value of how much physical capital is worn out, or reduced
    7·1 answer
  • Three Corners Markets paid an annual dividend of $1.42 a share last month. Today, the company announced that future dividends wi
    13·1 answer
  • Why would OB scholars avoid general concept statements such as stating everyone wants an interesting​ job?
    13·1 answer
  • Zara has pioneered "cheap chic" in clothing apparel. Zara offers current and desirable fashion goods at relativelylow prices. To
    13·1 answer
  • In a statement of cash flows using the indirect method, an increase in available-for-sale securities due to an increase in their
    7·1 answer
  • Why selling is never ending process in business?? ​
    12·1 answer
  • TD Ameritrade is a company that buys and sells stocks and bonds as well as providing its customers with advice on when to buy an
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!