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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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A tour group split into two groups when waiting in line for food at a fast food counter. The first group bought 8 slices of pizz
creativ13 [48]

Answer:

The cost of an slice of pizza is $3.94

Explanation:

Hi, we have to construct 2 equations with the information of the problem, the first one is " 8 slices of pizza and 7 soft drinks for $45.10".

8P+7D=45.10

And the second one, when "The second group bought 6 slices of pizza and 5 soft drinks for $33.34" is.

6P+5D=33.34

Where: P = pizza slices and D= soft drinks

We need to substract one equation from the other, but firs we need to equal one of the variables. In order to do so, we multiply our first equation by 5 and the second one for 7, therefore we get.

First equation

40P+35D=225.5

And the second one:

42P+35D=233.38

And now, we substract them and solve.

40P+35D-(42P+35D)=225.5-233.38

40P-42P+35D-35D=-7.88

-2P=-7.88

P=\frac{-7.88}{-2} =3.94

The cost of a slide of pizza is $3.94

In case you needed to find the cost of the soft drink, we just substitute P for 3.94 in any of the initial equations, that is:

8(3.94)+7D=45.1

7D=13.58

D=1.94

The cost of a soft drink is $1.94

Best of luck.

7 0
3 years ago
One year ago, you entered into a futures contract to buy 100,000 euros at a futures contract price of $1.22, with a settlement d
Law Incorporation [45]

Answer:

Profit of $3000

Explanation:

The exchange rate of a future contract is usually fixed at the time when the contract is buy 100,000 euros at a futures contract price of $1.22.

The Value in dollars at the time is: $122,000

At the maturity spot rate of the euro is $1.25.

The value of the contract is: $125,000

The difference:

$125,000-122,000

=$3000.

Since the maturity spot rate is higher, there is a profit of $3000 from speculating with the futures contract.

8 0
3 years ago
Annie's team has just finished a major project and the team has, after a long time, got some free time on hand. However, for the
Natasha_Volkova [10]

Answer:

B.

Explanation:

B is giving a bit of a impersonal approach, and comes across as just pushing company rules, especially by attaching a company policy.  Her response should be more precise with options.  Annie does not provide that in response B.

5 0
3 years ago
Why understanding culture is important to business around the word?<br><br><br>​
Kamila [148]

Answer:

Understanding a country's culture is a sign of respect. It also helps to foster effective communication, a vital factor in business success. ... Values and attributes such as frugality, trust and endurance may be viewed differently in other countries.

8 0
3 years ago
What do law enforcement public safety corrections and security agencies usually provide to help their employees manage stress Pl
Furkat [3]

Answer:

The following have been discovered to be of help in reducing stress for law enforcement and public safety officials such as the Police and Military.

  • Attaining and maintaining work-life balance
  • deliberately taking out time for leisure activities
  • Keeping a very positive mindset always
  • setting and pursuing after goals and avoiding procrastination
  • Planning their daily work for enhanced effectiveness

Explanation:

Stress amongst law enforcement officials and public safety officials has become very crucial due to the following reasons:

1. It's easy for stress to go on for a prolonged period of time in the lives of these officials because of the nature of their work.

2. They are always in the face of danger and have to take life-or-death decisions/risks very often.

3. Relative inconclusive nature of their work

4. Frequent changes in shifts

5. Financial challenges and

6. In some cases health challenges of the officers in question or loved ones.

Stress amongst Law enforcement officials are very difficult to track because as they are trained to be and look tough...hence a the thinking is that a demonstration of weakness or admission of challenges could be interpreted as incompetence or inability to continue on the job.

Cheers!

4 0
3 years ago
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