Solution-What balance coronado report as cash and cash

What balance coronado report as cash and cash equivalents

Assignment Help Financial Accounting

Reference no: EM132794355

A new accountant at Coronado 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, 2020.

$75 of currency and coin in a locked box used for incidental cash transactions.
A $12,800 U.S. Treasury bill, due May 31, 2020.
$210 of April-dated checks that Wyne has received from customers but not yet deposited.
An $93 check received from a customer in payment of its April account, but postdated to May 1.
$2,700 in the company's checking account.
$5,400 in its savings account.
$83 of prepaid postage in its postage meter.
A $38 IOU from the company receptionist.

Problem (a) What balance should Coronado report as its "Cash and cash equivalents" balance at April 30, 2020?

Reference no: EM132794355

Questions Cloud

What would be the provision charges in the second quarter : An entity prepares quarterly interim financial reports, What would be the provision charges in the second quarter's interim financial statements?

Determine the net advantage of leasing : Determine the net advantage of leasing and advise the company on the option they should take based on your findings.

How does an efficient portfolio relate to feasible portfolio : If two assets' returns are positively correlated, what is the covariance between the returns of two assets? How does an efficient portfolio relate to feasible

Make to rebalance portfolio : The actual return after the first year on the risky asset is only .25. What trades do you make to rebalance your portfolio to the weights you calculated in the

What balance coronado report as cash and cash equivalents : A new accountant at Coronado Inc. is trying to identify, What balance should Coronado report as its "Cash and cash equivalents" balance at April 30, 2020?

Provide an argument in favour of a share buy-back : Briefly provide an argument in favour of a share buy-back for Wilikens Ltd opposed to an increase in dividends or a special dividend, ignoring any tax implicati

Determine the new sample size to examine : Assume that Phillips established an acceptable risk of overreliance of 5 percent, Determine the new sample size to examine

Forecast sales for a firm : What would be the appropriate way to forecast sales for a firm that has stable year-to-year sales, but seasonally fluctuating month-to-month sales

Purchase an annuity from a life insurance company : A 65-year-old man intends to use his retirement funds to purchase an annuity from a life insurance company.

User Account

All Pages

What balance coronado report as cash and cash equivalents

Reference no: EM132794355

Reference no: EM132794355

Questions Cloud

Reviews

Write a Review

Financial Accounting Questions & Answers

Financial statement analysis and preparation

Shareholder of a company

Financial and accounting principles

Prepare a statement of cash flow using the direct method

Financial accounting assignment

Prepare general journal entries for goela

Principles of financial accounting

Prepare general journal entries to record the transactions

Global reporting initiative

Explain the iasb conceptual frameworks

Determine the company''s financial statements

Computation of free cash flow

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT