Business, 01.11.2019 22:31 makaylahendrix8808

Anew accountant at larkspur, inc. is trying to identify which of the amounts shown below should be reported as the current asset “cash and cash equivalents” in the year-end balance sheet, as of april 30, 2022.

1. $52 of currency and coin in a locked box used for incidental cash transactions.
2. a $10,200 u. s. treasury bill, due may 31, 2022.
3. $255 of april-dated checks that larkspur has received from customers but not yet deposited.
4. an $78 check received from a customer in payment of its april account, but postdated to may 1.
5. $3,360 in the company’s checking account.
6. $6,350 in its savings account.
7. $52 of prepaid postage in its postage meter.
8. a $22 iou from the company receptionist.

(a) what balance should larkspur report as its “cash and cash equivalents” balance at april 30, 2022?

Answers: 3

Show answers

Another question on Business

Business, 21.06.2019 20:30

Which of the following best describes how the federal reserve bank banks during a bank run? a. the federal reserve bank has the power to take over a private bank if customers demand too many withdrawals. b. the federal reserve bank can provide a short-term loan to banks to prevent them from running out of money. c. the federal reserve bank regulates exchanges to prevent the demand for withdrawals from rising above the required reserve ratio. d. the federal reserve bank acts as an insurance company that pays customers if their bank fails. 2b2t

Answers: 3

Answer

Business, 22.06.2019 15:30

Calculate the required rate of return for climax inc., assuming that (1) investors expect a 4.0% rate of inflation in the future, (2) the real risk-free rate is 3.0%, (3) the market risk premium is 5.0%, (4) the firm has a beta of 2.30, and (5) its realized rate of return has averaged 15.0% over the last 5 years. do not round your intermediate calculations.

Answers: 3

Answer

Business, 22.06.2019 20:00

Miller mfg. is analyzing a proposed project. the company expects to sell 14,300 units, plus or minus 3 percent. the expected variable cost per unit is $15 and the expected fixed cost is $35,000. the fixed and variable cost estimates are considered accurate within a plus or minus 3 percent range. the depreciation expense is $32,000. the tax rate is 34 percent. the sale price is estimated at $19 a unit, give or take 3 percent. what is the net income under the worst case scenario?

Answers: 2

Answer

Business, 22.06.2019 21:50

Varto company has 9,400 units of its sole product in inventory that it produced last year at a cost of $23 each. this year’s model is superior to last year’s, and the 9,400 units cannot be sold at last year’s regular selling price of $42 each. varto has two alternatives for these items: (1) they can be sold to a wholesaler for $8 each, or (2) they can be reworked at a cost of $251,100 and then sold for $34 each. prepare an analysis to determine whether varto should sell the products as is or rework them and then sell them.

Answers: 2

Answer

You know the right answer?

Anew accountant at larkspur, inc. is trying to identify which of the amounts shown below should be r...

Questions