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Artemon [7]
3 years ago
10

A new accountant at Marin Inc. is trying to identify which of the amounts shown below should be reported as the current asset "C

ash and cash equivalents" in the year-end balance sheet, as of April 30, 2017.1. $54 of currency and coin in a locked box used for incidental cash transactions.2. A $10,300 U.S. Treasury bill, due May 31, 2017.3. $260 of April-dated checks that Marin has received from customers but not yet deposited.4. An $80 check received from a customer in payment of its April account, but postdated to May 1.5. $2,880 in the company’s checking account.6. $5,730 in its savings account.7. $54 of prepaid postage in its postage meter.8. A $24 IOU from the company receptionist.What balance should Marin report as its "Cash and cash equivalents" balance at April 30, 2017?
Business
1 answer:
uysha [10]3 years ago
3 0

Answer: $19,224

Explanation:

The amounts that are reported as the current assets "cash and cash equivalents" as follows:

Currency = $54

U.S. Treasury bill = $10,300

April checks = $260

Checking account = $2,880

Savings account = $5,730

Therefore,

Cash and cash equivalents balance at April 30, 2017:

= $54 + $10,300 + $260 + $2,880 + $5,730

= $19,224

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Current trends indicate that, due to the emerging economies, the world is moving _____ an economic system that is more favorable
Blababa [14]

Answer: closer to

Explanation:

Emerging economies also referred to as developing countries or emerging markets are countries which are investing in more in their productive capacity ans are also gradually moving away from agriculture as it main occupation and there is increase in industrialization.

Due to emerging markets, the world is moving closer to an economic system that is more favorable for international business. There are more quality goods produced by nations and advancement in technology has also helped the economy.

5 0
3 years ago
Suppose labor's share of output is 60% and capital's share of output is 40%. If labor grows at a rate of 5%, then this will caus
12345 [234]

If capital grows at a rate of 5%, then this will cause output to grow at a rate of 1%.

Given,

Labor's share of output = 60%

Capital's share of output = 40%

Labor grows on a rate of = 5%

Capital grows on a rate of = 5%

Thus, output will grow at a rate of = ?

SR(t) = Δy/Δt/Y - (αΔk/Δt/k(t) + (1-α)(ΔL/Δt/L(t))

Here, α = 60%

So, labor's share = (1 - 0.6) × 5  = 2%

Capitals contribution = 0.4 × 5  = 2%

Implied rate of growth in technology is also given,

SR = (5) - (2+2)

= 1%

Hence, if capital grows at a rate of 5%, then this will cause output to grow at a rate of 1%.

To learn more about capital here:

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8 0
1 year ago
On December 31, 2020, Lemmon Company issued 20,000 shares of its common stock with a fair value of $50 per share for all of the
Phantasy [73]

Answer:

$1,002,000

Explanation:

The costs incurred on the share for share exchange include the fair value per share ,issue costs,direct cost as well as contingent consideration(consideration based on the acquired business performance.

However,the costs eligible to be recorded as investment upon acquisition are the fair value per share and the contingent obligation as shown below:

Fair value (entire shares) $50*20,000=$1,000,000

fair value of potential obligation           =$2000

total value of investment                        $1,002,000

The issue costs and direct should be expensed immediately.

5 0
3 years ago
The process of transferring the debits and credits from the journal entries to the accounts is called a.journalizing b.sliding c
Rudiy27

Answer:

d. posting

Explanation:

There are various steps to prepare the financial statements. These are as follows:

1. Journalizing: It is a recording of business transaction with a narration in which the one account is debited and the other account is credited. It can be more transactions debited and credit that is depending upon the nature of the transaction.

2. Ledger posting: After recording the journal entries, the next step is to make the number of ledger i.e posting of the amount and the accounts to their respective ledger i.e sales ledger, purchase ledger, etc

3. Trial balance

4. Income statement

5. Statement of owners equity

6. Balance sheet

7. Cash flow statement

4 0
3 years ago
Identify each of the following terms or phrases as an accounting (a) principle, (b) assumption, or (c) constraint.
german

Answer and Explanation:

The identification of the following terms as an accounting principle, assumption or constraint is

1 Business entity    = Assumption

2. Measurement  = Principle

3 Cost-benefit   = Constraint

4 Revenue recognition  = Principle

In this way the identification of the accounting terms would be done

The same is relevant too

7 0
3 years ago
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