At year end, Allel Company had currency and coins in cash registers of $5,600, money orders from customers of $10,000, deposits in checking accounts of $64,000, U.S. Treasury bills due in 80 days of $180,000, certificates of deposit at the bank that mature in six months of $200,000, and U.S. Treasury bonds due in one year of $100,000. Calculate the amount of cash and cash equivalents that will be shown on the company’s year-end balance sheet.
Answer to relevant QuestionsAt the end of the year, Molly Enterprises estimates the uncollectible accounts expense to be 0.8 percent of net sales of $3,787,500. The current credit balance of Allowance for Uncollectible Accounts is $6,450. Prepare a ...Determine the interest on the following notes:a. $38,760 at 10 percent for 90 daysb. $27,200 at 12 percent for 60 daysc. $30,600 at 9 percent for 30 days d. $51,000 at 15 percent for 120 dayse. $18,360 at 6 percent for 60 ...Hernandez Company had an Accounts Receivable balance of $640,000 and a credit balance in Allowance for Uncollectible Accounts of $33,400 at January 1, 2011. During the year, Hernandez recorded the following transactions:• ...Find the present value of (1) A single payment of $36,000 at 4 percent made 12 years from now, (2) 12 annual payments of $3,000 at 4 percent,(3) A single payment of $7,000 at 8 percent made 5 years from now, (4) Five annual ...A contract calls for annual payments of $600. Find the present value of the contract, assuming (1) The number of payments is 7 and the current interest rate is 6 percent, (2) The number of payments is 14 and the current ...
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