User Account

All Pages

Calculate what amount of cash will be reported

Assignment Help Accounting Basics
Reference no: EM133074661

Question - The following is information about Full Moon Auto Repairs cash and related accounts at December 31, 2017

1. Postdated cheques from customers total $5,500. The cheques are dated January 31, 2018.

2. The petty cash box contains $500 cash.

3. The company has a savings account with a balance of $5,250 after all adjustments are recorded.

4. The company has guaranteed investment certificates totalling $10,000 due in 30 days.

5. The company maintains a cash float of $1,000 for use in the cash registers and which is stored in a locked safe overnight. On December 31, the cash custodian lent the senior manager $100 from the cash float, leaving an "IOU" note in the safe.

6. The chequing account is overdrawn, showing a negative balance of $12,400 after all adjustments.

Required - Calculate what amount of cash (excluding cash equivalents) will be reported on Full Moon's December 31, 2017 balance sheet. Write out the amounts below then calculate.

Reference no: EM133074661

Questions Cloud

Expected rate of return equal : Your complete portfolio is worth a total of $1,000 and can be formed out of 2 assets: a risk-free asset that has a rate of return of 5% and a risky portfolio wi
Should the company accept the special order : Question - Imperial Jewelers manufactures and sells a gold bracelet for $405.00. Should the company accept the special order
Is the correlation coefficient r a percentage : 1. Is the correlation coefficient r a percentage? 2. Can the correlation coefficient r be negative? If it is negative, what would that mean?
What is the eps at the breakeven ebit : If it borrows new debt of $942 to repurchase 241 shares, the interest rate on the new debt will be 7.2%. What is the EPS at the breakeven EBIT?
Calculate what amount of cash will be reported : Calculate what amount of cash (excluding cash equivalents) will be reported on Full Moon's December 31, 2017 balance sheet
Find the oas of a 3 year callable bond trading : Find the OAS of a 3 year callable bond trading at 99.611. Assume the bond pays an annual coupon or 7.6 95, and is callable at 101.5 at the end of each year.
Expected return and variance of the portfolio : You have three stocks in your portfolio with the following properties: Compute the expected return and variance of the portfolio.
What the vehicle operating cost in the planning budget : The actual vehicle operating cost for the month was $6,330. What the vehicle operating cost in the planning budget for December
What is the future value : What is the future value of an 11%, 5-year ordinary annuity that pays $700 each year? Do not round intermediate calculations. Round your answer to the nearest c

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd