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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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antoniya [11.8K]

The answer is LLC or also known as Limited Liability Company. This type of hybrid legal entity has the characteristic of mixed characteristics of a partnership, sole proprietorship and even a company in which they have a limited liability that could also be similar to shareholders in a corporation.

3 0
3 years ago
Situations where an individual is required to define right and wrong conduct are termed ________.
koban [17]

Answer:

The right option is option b, which is Ethical dilemmas

Explanation:

Ethical dilemmas are situations in which there is a choice to be made between two options neither of which resolved the situation. It is a decision making problem which is between two possible moral imperatives.

8 0
3 years ago
In the ____ and ____ stages of product life cycle, firms often set priorities on growth and/or market share
klasskru [66]

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In the introduction and early growth stages of the product life cycle, firms often set priorities on growth and/or market share

Explanation:

3 0
3 years ago
On December 31, 2018, AAA disposed an Equipment (Cost: $50,000, Salvage Value: $10,000, useful life: 4 years), which was purchas
levacccp [35]

Answer:

A Loss of $10,000

Explanation:

To calculate the depreciation using the straight line method.

Depreciation = Cost - Salvage value/ no. of years

   

       $50,000   -   $10,000/ 4 = $10,000

Annual depreciation now is:    $10,000

Net book Value (NBV) for the year of disposal i.e 2018 will be:

Cost - Accumulated Depreciation = NBV

$50,000 - $30,000 = $20,000

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3 0
3 years ago
As a human resource manager, how would you recommend that a part-time<br> employee is compensated?
barxatty [35]

Answer:

C. Part-time employees should be compensated with an hourly wage

because the number of hours they may work each month

changes

<u>Multiple-choices</u>

employee is compensated?

A. Part-time employees should be compensated with a salary

because the number of hours they may work each month

changes

O

B. Part-time employees should be compensated with an hourly wage

because the number of hours they work each month is always the

same.

O

C. Part-time employees should be compensated with an hourly wage

because the number of hours they may work each month

changes

O

D. Part-time employees should be compensated with a salary

because the number of hours they work each month is always the

same.

Explanation:

Part-time workers are called to duty on a need basis.  Usually, part-time workers are assigned specific tasks to perform is within a particular duration. Their contribution is measured in terms of hours worked or completed units of output.

Part-time workers contrast with full-time workers who report for duty every working day. Part-time workers are not required to work for certain hours per week or month like full-time workers. The number of hours that a part-time worker works in a week varies from time to time. Therefore, the best way of compensating them is through an hourly rate.

8 0
3 years ago
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