1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
At a price of $2,000 per unit, the demand for Rancho 60 mountain bikes from Peyton Bike's Inc. is 300 units, which is the number
MaRussiya [10]

<em>If the marketing managers at Peyton Bike's Inc. decide to sell each bike at a price lower than $2,000 per unit</em><em>, a shortage of bikes will be created.</em>

<h3>Why are bikes in short supply?</h3>

As a result, additional problems like plant shutdowns and disruptions as well as the unheard-of increase in bike orders during the peak of the coronavirus pandemic have added to the supply chain difficulties. The sector has never before experienced such a massive increase in demand as it has over the past two years.

learn more about<em> </em>shortage of bikes here <u>brainly.com/question/13000057</u>

#SPJ4

4 0
2 years ago
In today's manufacturing environment, there is a growing philosophy that supports the deployment of smaller, less directly manag
Nastasia [14]

The team that includes about 5 to 15 members that work together to produce an entire product is called a Functional team

<h3>Who is a Functional team?</h3>

A Functional Team refers to a group of people with a common functional expertise who are working toward shared objectives (which is to produce an entire product.)

In conclusion, the team that includes about 5 to 15 members that work together to produce an entire product is called a Functional team

Read more about Functional team

<em>brainly.com/question/1490525</em>

7 0
2 years ago
Which one of the following is a concern expressed by suppliers in JIT partnerships?
iris [78.8K]

Answer: c) having limited ability to respond to changes in product and quality

Explanation:

JIT or Just In Time is a system that eliminates waste, reduces the time of production and improves product quality by focusing on customers' wants and having as little lag as possible between order to delivery time.

It is based on rapid throughput, inventory is purchased in discrete quantities as at when needed and production is carried out based on customers' orders or what is believed will be sold. This system does not leave room for any variances in product or quality.

7 0
4 years ago
Which of the following actions will help to ensure that formal business documents are trustworthy?
Softa [21]
The answer is C
<span>Getting information from reliable sources</span>
5 0
3 years ago
Read 2 more answers
During a year which of the three latitudes experiences the greatest variation in average daily insolation at the top of the atmo
defon

Answer: 90°

Explanation:

Here is the complete question:

During a year, which of the three latitudes you graphed (0⁰, 45⁰ N, and 90⁰ N), which of the three latitudes experiences the GREATEST variation in average daily insolation at the top of the atmosphere?

Latitude is an angle that ranges from the Equator at 0° the poles at 90°. Latitude is a geographic coordinate which simply specifies a point's north–south position position on the surface of the Earth.

Based on the question, the latitudes that experiences the greatest variation in average daily insolation at the top of the atmosphere is 90°.

8 0
3 years ago
Other questions:
  • During June, Buttrey Corporation incurred $85,000 of direct labor costs and $25,000 of indirect labor costs.
    15·1 answer
  • "bernadette's cell phone plan costs a basic charge of $20 a month plus 5¢ per minute of calling time after she uses the first 30
    10·1 answer
  • The largest cattle rancher in a given region will be unable to have a __________ when sufficient numbers of smaller cattle ranch
    14·1 answer
  • Compared to a perfectly competitive firm, a monopolist____________.
    15·1 answer
  • Professor John Morton has just been appointed chairperson of the Finance Department at Westland University. In reviewing the dep
    15·1 answer
  • Tom purchased a bond today with a 20-year maturity and a yield to maturity (YTM) of 6%. The coupon rate is 8% and coupons are pa
    12·1 answer
  • Ahngram Corp. has 1,000 defective units of a product that cost $3 per unit in direct costs and $6.50 per unit in indirect cost w
    11·1 answer
  • Mike is arrested at a warehouse in North Industrial Park and is charged with the crime of theft. Mike will be prosecuted bya. th
    7·1 answer
  • The delivered-equipment cost for a fully equipped CNC machining system is $4.2 million. The direct cost factor is 1.52 and the i
    5·1 answer
  • _____ is a broad set of communication activities used to create and maintain favorable relations between the organization and it
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!