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ANTONII [103]
3 years ago
11

The controller for Clint Eastwood Co. is attempting to determine the amount of cash to be reported on its December 31, 2014, bal

ance sheet. The following information is provided.1. Commercial savings account of $698,340 and a commercial checking account balance of $830,320 are held at First National Bank of Yojimbo.2. Money market fund account held at Volonte Co. (a mutual fund organization) permits Eastwood to write checks on this balance, $5,044,440.3. Travel advances of $195,500 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 $1,509,300 is restricted for the retirement of long-term debt.5. Petty cash fund of $1,900.6. An I.O.U. from Marianne Koch, a company customer, in the amount of $157,850.7. A bank overdraft of $111,500 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 $517,800. These CDs have a maturity of 120 days.9. Eastwood has received a check that is dated January 12, 2015, in the amount of $131,830.10. Eastwood has agreed to maintain a cash balance of $681,620 at all times at First National Bank of Yojimbo to ensure future credit availability.11. Eastwood has purchased $2,124,020 of commercial paper of Sergio Leone Co. which is due in 60 days.12. Currency and coin on hand amounted to $8,150.Compute the amount of cash and cash equivalents to be reported on Eastwood Co.
Business
1 answer:
NISA [10]3 years ago
8 0

Answer:

The amount of $8,707,170 of cash and cash equivalents to be reported on Eastwood Co.

Explanation:

Cash reported  December 31,2014 = Commercial savings account + Commercial checking account  + Money market fund + Petty cash fund + Commercial paper  + Currency and coin on hand

=$698,340 + $830,320 + $5,044,440  + $1,900 + $2,124,020 + $8,150

= $8,707,170

​Therefore, The amount of $8,707,170 of cash and cash equivalents to be reported on Eastwood Co.

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RoseWind [281]

Answer:

the warranty may have expired

Explanation:

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3 years ago
Which is a correct statement regarding sandwich prices,<br><br> based on the histogram?
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Which is a correct statement regarding sandwich prices, based on the histogram? The distribution of sandwich prices is skewed left.

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4 0
2 years ago
A merit system of police employment is established when an independent civil service commission, in cooperation with the city pe
Illusion [34]

Answer:

Recruitment criteria.

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Recruitment criteria are models used to gauge all up-and-comers and their capacity to play out a vocation. You search principally for the most ideal match between an applicant's information, aptitudes, and capacities and the prerequisites for fruitful presentation of work.

4 0
2 years ago
Eric wants to attend a public four-year university. He estimates that the average cost of one year at this university is $19,500
pishuonlain [190]
In this problem he need 19.500 but only earns 325 a month. From this we take what is needed (19500) and divide it by what is earned (325). This will give you 60. So therefore it will take him 60 months to earn enough for one year at university.
5 0
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Although the Chen Company’s milling machine is old, it is still in relatively good working order and would last for another 10 y
SCORPION-xisa [38]

Keeping the appropriate cash flow in the cash flow register, using a financial calculator, NPV should be calculated for taking the decision.

Answer: According to the NPV calculated, Chen should buy a new machine.

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Place the cash flow on a time line:

0 1 2 10

I 10 I I . . . I

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5 0
3 years ago
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