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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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DIA [1.3K]

Answer:

a. either the economy must be producing a larger output of goods and services, or goods and services must be selling at higher prices, or both

Explanation:

Total Spending is the total values of goods & services produced & transacted ( bought, sold ) in an economy, during a period of time.

Total Spending = Price of goods,services x Quantity of goods,services

So, if the total spending increases : It implies that either the quantity of goods & services, or their prices, or both have increased. As, amount spent is a product of both of them.

8 0
3 years ago
Exercise 6-18 Break-Even and Target Profit Analysis; Margin of Safety; CM Ratio [LO6-1, LO6-3, LO6-5, LO6-6, LO6-7]Menlo Company
bonufazy [111]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Sales= $640,000 ($40)

Variable expenses= 448,000 (28)

Contribution margin= 192,000 ($12)

Fixed expenses= (145,200)

Net operating income=$46,800

1) To calculate the break-even point in units and dollars, we need to use the following formulas:

Break-even point in units= fixed costs/ contribution margin per unit

Break-even point in units= 145,200/(40-28)

Break-even point in units= 12,100 units

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 145,200/ (12/40)

Break-even point (dollars)= $484,000

<u>2) The break-even point is the number of units to sell to reach a net profit of cero. Therefore, the contribution margin must be equal to the fixed costs.</u>

Contribution margin= 145,200

3) profit= $75,600

Break-even point in units= (fixed costs + desired profit)/ contribution margin per unit

Break-even point in units= 220,800/12

Break-even point in units= 18,400 units

Sales= 18,400*40= 736,000

Total variable costs= 18,400*28= (515,200)

Contribution margin= 220,800

Fixed costs= 145,200

Net profit= 75,600

4) The margin of safety:

Margin of safety= (current sales level - break-even point)

Margin of safety= 640,000 - 484,000= $156,000

Margin of safety ratio= (current sales level - break-even point)/current sales level

Margin of safety ratio= 156,000/640,000

Margin of safety ratio= 0.244= 24.4%

5) Contribution margin ratio= 12/40= 0.3

Net increase= 96,000*0.3= $28,800

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3 years ago
You are considering investing $1,000 in a T-bill that pays 0.05 and a risky portfolio, P, constructed with 2 risky securities, X
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Answer:

% in T bills = 18.92%, % in P = 81.08%

Explanation:

Portfolio return = Weighted average return

Return of portfolio P = 0.14*0.6 + 0.10*0.4

Return of portfolio P = 0.124

Let % money in T bills be x

0.11 = 0.05*x + 0.124*(1-x)

0.11 = 0.05x + 0.124 - 0.124x

0.014 = 0.074x

x = 18.92%

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3 0
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Imagine that a designer writes content for their online portfolio. To come across as knowledgeable about UX design, they include
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To improve their written content, the designer can do the following:

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  5. Make a good copy to sell your skill.

<h3>Who is a designer?</h3>

A designer is an individual that uses computer-aided software and devices to plan and draw the soft/hard copies of a material.

A User Interface designer designs the screens that users go through while surfing a website.

To improve their written content and improve their portfolio, they can use the numbered steps above.

Learn more about UI Designers here:

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Based on the CPI in both places, the Brexington salary in Charlieville is $30,000.

<h3>Brexington salary in Charlieville </h3>

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In conclusion, option A is correct.

Find out more on CPI at brainly.com/question/512131.

3 0
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