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stepan [7]
3 years ago
10

Exercise 7-1 The controller for Clint Metlock Co. is attempting to determine the amount of cash to be reported on its December 3

1, 2017 balance sheet. The following information is provided. 1. Commercial savings account of $617,400 and a commercial checking account balance of $891,200 are held at First National Bank of Yojimbo. 2. Money market fund account held at Volonte Co. (a mutual fund organization) permits Metlock to write checks on this balance, $5,217,600. 3. Travel advances of $197,300 for executive travel for the first quarter of next year (employee to reimburse through salary reduction) 4. A separate cash fund in the amount of $1,492,100 is restricted for the retirement of long-term debt. 5. Petty cash fund of $1,480. 6. An I.O.U. from Marianne Koch, a company customer, in the amount of $165,200 7. A bank overdraft of $112,900 has occurred at one of the banks the company uses to deposit its cash receipts. At the present time, the company has no deposits at this bank. 8. The company has two certificates of deposit, each totaling $664,800. These CDs have a maturity of 120 days 9. Metlock has received a check that is dated January 12, 2018, in the amount of $135,070. 10. Metlock has agreed to maintain a cash balance of $490,000 at all times at First National Bank of Yojimbo to ensure future credit availability. 11. Metlock has purchased $1,962,300 of commercial paper of Sergio Leone Co. which is due in 60 days.12. Currency and coin on hand amounted to $8,251 (a) Compute the amount of cash and cash equivalents to be reported on Metlock Co.'s balance sheet at December 31, 2017 The amount of Cash and Cash Equivalents reported on December 31, 2017
Business
1 answer:
Anettt [7]3 years ago
3 0

Answer:

The amount of cash and cash Equivalents reported on December 31, 2017.

$8,698,231    

Explanation:

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

Download xlsx
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Yanka [14]

Answer:

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3. P = -$43,500; Q = $3,500

Explanation:

The explanation is given in images for each situation:

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3 years ago
Jan, the manager at Direct, is a favorite with her employees because she has the ability to recognize and understand the emotion
pentagon [3]

Answer:

Other Awareness

Explanation:

Emotional Intelligence

This is simply defined as when an individual is capable of knowing or recognizing his or her emotion as well as that of other people. Ot aim to use emotions and to use information to aid their thinking and behavior.

A good leader should possess a good IQ as they are important to Leader effectiveness

The common five factors of Emotional Intelligence includes:

1. Self-awareness: This is simply to be able to recognize or understand your emotions and the effects you have on others.

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To have awareness for others simply entails the assumption of the idea of belief of others are as worthy as you until proven otherwise, networking and self expression.

8 0
3 years ago
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JulsSmile [24]

Answer:

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Explanation:

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As such, the materials requisition is part of the <em>Work in Progress</em> (WIP) account.

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4 years ago
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Supervisor must make more adjustments
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BartSMP [9]

Answer:

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This is a very general question however I’ll try to answer it to the best of my knowledge.

This is an example of Good Quality or Service OR Public Relations or Promotion.

Good Quality or Service – The food quality or the service at the Restaurant must be very good that the food critic was so impressed that he/she published this review on the magazine so that others may try the delicious food of this Restaurant.

Public Relations or Promotion – Regardless of the food quality or the service at the Restaurant, the restaurant owner had paid the food critic/blogger to post good reviews about his/her Restaurant in the magazine which would attract more customers to this Restaurant.

In my opinion, Good Quality or Service is more relevant in this scenario.

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