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iren2701 [21]
3 years ago
7

Cashmere Soap Corporation had the following items listed in its trial balance at 12/31/2021: Currency and coins $ 620 Balance in

checking account 1,600 Customer checks waiting to be deposited 2,500 Treasury bills, purchased on 11/1/2021, mature on 4/30/2022 2,700 Marketable equity securities 10,600 Commercial paper, purchased on 11/1/2021, mature on 1/30/2022 5,900 What amount will Cashmere Soap include in its year-end balance sheet as cash and cash equivalents? 1.$7,420. 2.$10,620. 3.$23,920. 4.$13,320.
Business
1 answer:
Tresset [83]3 years ago
5 0

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents is <u>2. $10,620</u>.

<u>Explanation</u>:

<em><u>Given</u></em>:

Currency and coins= $620

Balance in checking account= $1,600

Customer checks waiting to be deposited= $2,500

Treasury bills= $2700

Marketable equity securities= $10,600

Commercial paper cost= $5900

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents= 620+1600+2500+5900

                         = $10,620

The amount included by Cashmere Soap Corporation in its year-end balance sheet as cash and cash equivalents is <u>$10,620</u>.

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Answer:

C)capitalist

Explanation:

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The free enterprise market is the purest form of a capitalist economy. Capitalist economies contrast with socialists economies where ownership of capital goods is in the government's hands.

7 0
3 years ago
Transformational leaders use four key kinds of behaviors that affect followers. paul vallas exhibits _________ as he explains hi
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3 0
3 years ago
g According to a recent report from LegalZoom, 35% of new business last year were started by women (65% were started by men). Of
Ilia_Sergeevich [38]

Answer:

the probability that it was started by a man is 69%

Explanation:

65% companies were started by men

24% of 65% had revenues above $100,000

24% x 65% = 15.6% of the total number of companies started last year had revenues of more than $100,000 and were started by men.

35% companies were started by women

20% of 35% had revenue above $100,000

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3 0
3 years ago
Chicken Can has net sales revenue of $1,420,000, cost of goods sold of $761,700, and all other expenses of $307,000. The beginni
kotykmax [81]

Answer:

The fixed asset turnover ratio is closest to 3.62.

Explanation:

The fixed asset turnover ratio can be calculated using the following formula:

Fixed asset turnover ratio = Net sales revenue / Average fixed assets …….. (1)

Where:

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Average fixed assets = (Beginning balance of fixed assets + Ending balance of fixed assets) / 2 = ($378,000 + $406,000) / 2 = $392,000

Substituting the values into equation (1), we have:

Fixed asset turnover ratio = $1,420,000 / $392,000 = 3.62

Therefore, the fixed asset turnover ratio is closest to 3.62.

8 0
3 years ago
Concord Company is constructing a building. Construction began on February 1 and was completed on December 31. Expenditures were
nexus9112 [7]

Answer:

$2,317,000

Explanation:

The computation of the weighted-average accumulated expenditures for interest capitalization purposes is shown below:

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On December 31, it would be zero

So, the accumulated expenditures is

= $1,610,000 + $707,000

= $2,317,000

8 0
3 years ago
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