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inna [77]
3 years ago
11

The following information is available for Montrose Company at December 31: Cash in bank account $ 8,540 Petty cash $ 250 Short-

term investment (maturing in two months) $ 10,400 Checks from customers $ 1,350 Equipment $ 805 Treasury bill maturing in 60 days $ 10,000 Money orders $ 290 A three-year certificate of deposit maturing in three years $ 6,000 Based on this information, the determine the amount reported as Cash and Cash Equivalents on December 31.
Business
1 answer:
navik [9.2K]3 years ago
7 0

Answer:

Cash $10,430

Cash equivalents $20,400

Explanation:

Calculation to determine the amount reported as CASH on December 31

Using this formula

Cash = Cash in bank + Petty cash + Check from customer + money order

Let plug in the formula

Cash = $8,540 + $250 + $1,350 + $290

Cash = $10,430

Calculation to determine the amount reported as CASH EQUIVALENTS on December 31

Using this formula

Cash equivalents = Money market fund + Treasury bills

Let plug in the formula

Cash equivalents=$10,400+$10,000

Cash equivalents= $20,400

Therefore the amount reported as Cash and Cash Equivalents on December 31 are:

Cash $10,430

Cash equivalents $20,400

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3 years ago
Jethro has a(n) ____________________ in all aspects of camping: he is faster at carrying a backpack, gathering firewood, paddlin
Alika [10]

Jethro has an absolute advantage in all aspects of camping: he is faster at carrying a backpack, gathering firewood, paddling a canoe, setting up tents, making a meal, and washing up.

Absolute advantage refers to an individual's capacity to efficiently carry out a task when compared to other individuals or groups.

  • In economics, this broadly refers to the ability and capacity to produce and conduct an economic good or a particular service in a more efficient manner than the competitors.
  • In this case Jethro has an absolute advantage in all aspects of camping.
  • Within the constraints of the economic activity, production is more efficient and higher.
  • Fewer resources are required to produce a particular commodity and/or service that needs higher resources for the competitors.
  • With fewer inputs, the outputs stand maximized in the context of absolute advantage.

Therefore, Jethro has an absolute advantage in all aspects of camping: he is faster at carrying a backpack, gathering firewood, paddling a canoe, setting up tents, making a meal, and washing up.

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5 0
2 years ago
Columbia Products produced and sold 1,400 units of the company’s only product in March. You have collected the following infor
s344n2d4d5 [400]

The computation of the following costs by Columbia Products is as follows:

a. Variable manufacturing cost per unit is $64.

b. Full cost per unit is $96, including manufacturing and marketing and administrative costs.

c. The variable cost per unit is $68.

<h3>Data and Calculations:</h3>

Production and sales units in March = 1,400 units

Sales price (per unit) = $129

<h3>Manufacturing costs: </h3>

Fixed overhead (for the month) = $16,800

Direct labor (per unit) =              $7

Direct materials (per unit)          31

Variable overhead (per unit)    26

Variable manufacturing cost $64

The Fixed cost per unit = $12 ($16,800/1,400)

The total manufacturing cost per unit = $76 ($64 + $12)

<h3>Marketing and administrative costs: </h3>

Fixed costs (for the month) = $22,400

Variable costs (per unit)  = $4

Fixed costs per unit =        $16 ($22,400/1,400)

The total marketing and administrative costs per unit = $20 ($4 + $16)

Full cost per unit = $96 ($76 + $20)

Variable cost per unit = $68 ($64 + $4)

Learn more about variable, fixed, and full costs here: brainly.com/question/15684424

4 0
2 years ago
A country has passed a law setting a minimum wage for factory workers 5% below the equilibrium price. How will this law impact t
ella [17]

Answer:

C.) The law will have no impact on the market.

Explanation:

The minimum wage refers that the producers could charge high amount as compared with the wages i.e. minimum also the equilibrium wage would be more than the minimum wage so this represents that the market is an equilibrium point and hence there is no impact on the market

Therefore the option C is correct

And, hence all the other options are wrong

6 0
3 years ago
A dozen eggs cost $0.96 in December 2000 and $1.82 in December 2017. The average wage for workers in private industries was $14.
pogonyaev

Answer:

the percentage in which the price of the dozen eggs rise is 89.58% or 90%

Explanation:

The computation of the percentage in which the price of the dozen eggs rise is shown below;

Percentage Change in Dozens egg price is

= (Price in 2017 - Price in 2000) ÷ Price in 2000 × 100

= ($1.82 - $0.96) ÷ $0.96 × 100

= 89.58% or 90%

Hence, the percentage in which the price of the dozen eggs rise is 89.58% or 90%

8 0
3 years ago
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