User Account

All Pages

How much should be reported as cash

Assignment Help Accounting Basics
Reference no: EM132745969

Question: Out the Turtle Company had the following account balances on December 31, 2020:

Cash in Bank A - rank and file payroll account 200,000

Cash in bank B - savings account 123,456

Cash in bank C - checking account 2,500,555

Cash in bank D - savings account 2,000

Cash in bank E - checking account 676,777

Cash in bank F - managerial payroll account 711,711

- Cash on bank C is set aside for payment of bonds payable acquired on October 14, 2014, due on December 21, 2021

- Cash in bank E is segregated for purchase of inventories

How much should be reported as cash on December 31, 2020?

Reference no: EM132745969

Questions Cloud

Self evaluation and leadership profile : Deciding to be certain kind of leader may be more matter of knowing oneself than making random selection. Discuss importance of social distance in leadership.
Compute the amount of accounts payable : Advertising bill for Php7,000 was received but will not be paid until next month. Compute the amount of ACCOUNTS PAYABLE based on foregoing transactions
Which significant deposits in a foreign bank : Which Significant deposits in a foreign bank which are subject to FOREX restriction should be classified as? non trade receivables with appropriate disclosure
Explain the alleged misconduct of carlos ghosn : a) What ethical theory might explain the alleged misconduct of Carlos Ghosn?
How much should be reported as cash : Out the Turtle Company had the following account balances on December 31, 2020: Cash in Bank A - rank and file payroll account 200,000.
What is the present value of an investment : What is the present value of an investment that will generate $100,000 in the first year, $200,000 in the second and $300,000 in the third
Which cash deposited in a bank experiencing financial : Which Cash deposited in a bank experiencing financial difficulty may be written down to? maturity value. / realizable value. / present value
Six sigma quality approaches with respect to eight factors : Read this article that compares traditional and Six Sigma quality approaches with respect to eight factors.
Calculate the appropriate capitalization rate on borrowings : Calculate the appropriate capitalization rate on general borrowings that would be used for capitalization of borrowing costs

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is a cash disbursements budget

What is a cash disbursements budget and what information is necessary from the information provided to solve this

  What is the NPV of this project

Jacklyn Inc. has an opportunity to sell a newly developed product in Cebu for a period of five years. What is the NPV of this project

  What will be the total inventory costs

Roybow Corporation sells lawn mowers that cost $160 each to purchase and prepare for sale. What will be the total inventory costs

  What amount is jodie allowed to contribute to her roth ira

Jodie, age 52, filed her tax return using the Married Filing Separately status and lived with her husband during the year. Her modified AGI is $68,000.

  Prepare colah journal entries for the transactions

Prepare Colah journal entries for the transactions. Colah Company purchased $2,700,000 of Jackson, Inc., 5% bonds at par on July 1, 2021, with interest paid

  Evaluating the company performance

The accounting staff also prepared related financial information to assist management in evaluating the company's performance. BBG uses the FIFO inventory.

  What are the accounting considerations for craft foods

What are the accounting considerations for Craft Foods, Inc.? Describe how Craft recorded the sale.

  Problem related to inflate sales

Which scheme does not inflate sales? A) Recognizing sales on disputed claims against customers. B) Recognizing sales without shipping the goods. C) Understanding allowances for sales discounts.

  What is the fund required rate of return

If the market's required rate of return is 14% and the risk-free rate is 6%, what is the fund's required rate of return

  Investment in common stock of keller corporation

You are considering an investment in the common stock of Keller Corp. The stock is expected to pay a dividend of $2 a share at the end of the year (D1 = $2.00).

  What need to communicate for new assistant to understand

Describe what information you need to communicate for the new assistant to understand? how the marketing department contributes to the organisation's business

  Using the fifo basis prepare a process costing report

PNG Corporation designs and builds roller coasters for amusement parks.  At the end of 20x1, managers estimated overhead costs for 20x2 of $150,000 based on expected production of 5 roller coasters (5 jobs) using 5,000 labor hours each.  Actual ov..

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