Reporting Cash Tina Company has the following items at year-end. Currency and coin in safe. $4,100 Funds in savings account (requires $2,500 compensating balance) 26,540 Funds in checking account 6,750 Traveler’s checks 625 Postdated check 1,250 Not-sufficient-funds check 1,880 Money market fund 35,100 Required Identify the amount of the above items that should be reported as cash and cash equivalents on Tina Company’s balance sheet. Cash and Cash Equivalents = $
Answers
The amount that should be reported as cash and cash equivalents on Tina Company's balance sheet is $47,715.
To determine the amount of cash and cash equivalents on Tina Company's balance sheet, we need to consider the nature of each item and whether it meets the definition of cash or cash equivalents. Cash and cash equivalents are highly liquid assets that are readily convertible into known amounts of cash and have a short maturity period, typically three months or less.
The items that should be reported as cash and cash equivalents are as follows:
1. Currency and coin in safe: This item qualifies as cash and should be included. The amount is $4,100.
2. Funds in checking account: This account balance represents readily available cash and should be included. The amount is $6,750.
3. Traveler's checks: These checks are considered cash equivalents as they can be easily converted into cash. The amount is $625.
4. Money market fund: Money market funds are highly liquid and have a short maturity period, making them cash equivalents. The amount is $35,100.
Therefore, the total amount of cash and cash equivalents is $4,100 + $6,750 + $625 + $35,100 = $47,575.
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Related Questions
The US Senate has approved approximately how many treaties?
O 2.500
O 1,500
O 2,000
O 1.000
Answers
Answer:
2500
Explanation:
The United States Senate has approved approximately 2500 treaties. This assertion is based on the statistics that fifty years after the United States independence, the US Senate has only approved 60 treaties. By the period World War II began in 1939, the US Senate has approved another 800 treaties. Also, between 1940 to 1989, the United States Senate has approved an additional 759 treaties. And between 1989 to this moment, the United States Senate has reportedly approved 890 treaties.
Hence, summing all of them together, we have 60 plus 800, plus 759, plus 890, making it 2509 treaties. That is approximately 2500 treaties.
Answer:
B. 1,500
Explanation:
It’s on the passage
Describe how the language and the culture you grew up with, play a role in your communication styles?
Answers
What type of economy do government officials determine how to produce goods/services?
A. Command
B. Mixed
C. Market
D.Traditional
Answers
Answer:
I believe the right answer is C, Market
When you hire an accountant to do your taxes, they showed you their license. After accountant finished taxes, the person finds out the license was false. What is the defense?
Answers
There is no defense for an accountant who falsely represented themselves as licensed. The person who hired the accountant would have a legal claim against the accountant for fraud and could potentially file a complaint with the appropriate state licensing board.
Accountants are required to be licensed to practice by state boards of accountancy. These boards set minimum education and experience requirements for obtaining and maintaining a license. They also require accountants to comply with ethical and professional standards. If an accountant falsely represents themselves as licensed, they are engaging in unethical and illegal behavior. The person who hired the accountant could argue that they were misled and suffered harm as a result of the accountant's false representation. They could potentially seek damages to cover any losses or expenses incurred as a result of the accountant's actions.
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I need help to determine my grade
Answers
Answer:
Outstanding Checks should be subtracted from the bank side of the reconciliation because they were subtracted from the book balance when the checks were written.
Explanation:
what type of income includes all taxes and deductions before they are taken out?
Answers
Answer:
gross income
Explanation:
How much should i budget monthly for trajsportation
Answers
Answer:
You should say about $500 for transportation
Explanation:
4. According to enlightened organizations, information technology (IT) governance is the responsibility of:
a. project management.
b. IT management.
c. human resource management.
d. executive management.
Answers
According to enlightened organizations, information technology (IT) governance is the responsibility of executive management.
The correct answer is d) executive management. In enlightened organizations, the responsibility for IT governance lies with the top-level executives or executive management. IT governance refers to the strategic decision-making and oversight of IT resources, systems, and processes within an organization. It involves ensuring that IT investments align with the organization's objectives, managing IT risks, and optimizing IT performance and value.
Executive management is responsible for setting the overall direction and strategy of the organization, and IT governance is a critical component of this strategic decision-making. They are accountable for making informed decisions regarding IT investments, prioritizing IT initiatives, and managing IT-related risks and compliance. By taking ownership of IT governance, executive management ensures that IT initiatives support the organization's goals and objectives, and that IT resources are utilized effectively and efficiently.
While project management, IT management, and human resource management may play important roles in the implementation and execution of IT governance practices, the ultimate responsibility and decision-making authority lie with executive management. They provide the leadership and oversight necessary to drive IT governance processes and ensure alignment between IT and the organization's overall strategic direction.
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It is conventional to classify foreign currency exposures into the following types: economic exposure, transaction exposure, and translation exposure economic exposure, noneconomic exposure, and political exposure national exposure, international exposure, and trade exposure conversion exposure, and exchange exposure
Answers
Foreign currency exposures are typically classified into the following types: economic exposure, transaction exposure, and translation exposure. These exposures represent different ways in which fluctuations in exchange rates can impact a business's financial performance and value. The correct options are a, b, and c.
The conventional classification of foreign currency exposures includes the following types:
Transaction Exposure: Transaction exposure refers to the risk that arises from the potential impact of exchange rate fluctuations on specific transactions or contractual obligations denominated in foreign currencies. Companies engaged in international trade or having foreign operations are exposed to transaction risk when they enter into contracts involving foreign currencies.Economic Exposure: Economic exposure, also known as operating exposure, is the risk that a company faces due to changes in exchange rates impacting its overall competitive position and future cash flows. It refers to the long-term impact of exchange rate fluctuations on a company's revenues, costs, market share, and profitability. Economic exposure considers the broader impact on a company's operations beyond individual transactions.Translation Exposure: Translation exposure, also referred to as accounting exposure, arises from the conversion of the financial statements of foreign subsidiaries or branches into the reporting currency of the parent company. When financial statements are expressed in different currencies, fluctuations in exchange rates can affect the reported value of assets, liabilities, revenues, and expenses, potentially impacting financial performance.It's important for businesses operating globally to understand and manage these different types of foreign currency exposures to mitigate risks and make informed decisions regarding their international operations.
The correct options are a, b, and c.
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Which of the following is an example of an advertisement?
A.
A company newsletter
B.
A billboard
C.
A press release
D.
A news article about the company
Answers
Answer: B
Explanation:
just did it
A Billboard is an example of an advertisement. Option (b) is the correct answer to the question.
What is an Advertisement?Advertising is a type of communication that is intended to encourage an audience to do something, usually in relation to a commercial offering, like a good or a service that is being sold.
A billboard is a sizable outdoor advertising structure that is generally seen in high-traffic places, such as beside busy roadways. In the UK and many other countries, it is also known as hoarding. Large advertisements are shown on billboards for cars and pedestrians to see. Normally, businesses utilize billboards to promote new items or to strengthen their existing brands.
The largest ordinary-sized billboards command high-density consumer exposure and are typically found on major highways, expressways, or main arterial. Due to their size and the fact that they enable creative "customization" through extensions and embellishments, these provide the most visibility.
Therefore, Option (b) is correct.
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Which statement about inventory is true?
A. It is not an important aspect of financial analysis for a trading company.
В.
It is a current liability for a business.
C. A company's inventory does not become obsolete.
D. A company expects to convert it into cash in the near future.
E. it is an income for the business
Answers
Because is true
The true statement about inventory is that the company exchanges into cash in the upcoming future years.
Option D is the correct answer.
What is an inventory?An inventory is the goods lying at the end of the accounting year which is reported as closing stock on the balance sheet.
Inventory is one of the short-term assets of the company as it converts it into cash within a year or less. It is reported in the balance sheet of the company at the closing of an accounting year. It is recognized under the current asset sub-head with the primary head as assets.
Therefore, the explanation given in Option D is best represented by the inventory.
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if the absolute value of the tax elasticity of supply is 2.3, a tax cut of 2 percent should cause output supplied to
Answers
A tax cut of 2 percent is expected to result in a decrease in the quantity of output supplied by approximately 0.046%.
Understanding the concept of tax elasticity of supply is crucial in economics. It helps us analyze how changes in taxes affect the quantity of goods or services supplied in the market. In this case, we'll discuss the effect of a tax cut on the output supplied when the tax elasticity of supply is given as 2.3.
The tax elasticity of supply measures the responsiveness of the quantity of output supplied to changes in tax rates. It is calculated by dividing the percentage change in quantity supplied by the percentage change in the tax rate.
Let's assume the initial tax rate is denoted by "T" and the initial quantity of output supplied is denoted by "Q." The tax elasticity of supply (ε) is given as 2.3, which implies that for a 1% change in the tax rate, the quantity of output supplied changes by 2.3%.
Now, we are considering a tax cut of 2 percent. This means the new tax rate (T') will be T - 2%. To determine the effect of this tax cut on the quantity of output supplied, we can use the concept of tax elasticity of supply.
The formula to calculate the percentage change in the quantity of output supplied is:
Percentage change in quantity supplied = ε * Percentage change in tax rate
Substituting the given values into the formula, we have:
Percentage change in quantity supplied = 2.3 * (-2%)
To simplify the calculation, let's convert the percentage change in tax rate to a decimal:
Percentage change in tax rate
= -2%
= -0.02
Now, we can calculate the percentage change in quantity supplied:
Percentage change in quantity supplied
= 2.3 * (-0.02)
= -0.046
Therefore, a tax cut of 2 percent is expected to result in a decrease in the quantity of output supplied by approximately 0.046%. It's important to note that the negative sign indicates a decrease in supply due to the tax cut.
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ABC Company sold goods to XYZ traders on May 1, 2019. ABC company agreed to accept a Kshs.1,400,000 for 6 month, 12% note in payment for the goods. Interest is payable at maturity. Required: Prepare journal entries to record the above transactions
Answers
Answer: If you have ever taken out a payday loan, you may have experienced a situation where your living expenses temporarily exceeded your assets. You need enough money to cover your expenses until you get your next paycheck. Once you receive that paycheck, you can repay the lender the amount you borrowed, plus a little extra for the lender’s assistance.
There is an ebb and flow to business that can sometimes produce this same situation, where business expenses temporarily exceed revenues. Even if a company finds itself in this situation, bills still need to be paid. The company may consider a short-term note payable to cover the difference.
A short-term note payable is a debt created and due within a company’s operating period (less than a year). Some key characteristics of this written promise to pay (see (Figure)) include an established date for repayment, a specific payable amount, interest terms, and the possibility of debt resale to another party. A short-term note is classified as a current liability because it is wholly honored within a company’s operating period. This payable account would appear on the balance sheet under Current Liabilities.
Short-Term Promissory Note. A promissory note includes terms of repayment, such as the date and interest rate.
Explanation:
Which of the following is true of an unsecured loan?
A. They are exclusively for cars, houses, and other large purchases
B. Collateral could be collected by the lender if the debt is not paid
C. They never have any interest added onto them
D. Items of value that the borrowers owns are not at risk of repossession
Answers
Answer:
B
Explanation:
The statement "The value of an item where the borrowers owned but they are not at the repossession risk" is to be true.
The unsecured loan is the type of loan in which there is no need for any type of collateral property.
The lender does not takes the assets of the borrower as the security but it gives the approval of an unsecured loan depends upon the creditworthiness of the borrower.
Examples are:
Personal loans.Students loans.Credit cards.The following information related to unsecured loans is
It does not for cars, houses, or any other large purchasesIn this, the collateral does not involve.It contains high interest.Therefore we can conclude that, option d is correct.
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You need $76,000 in 11 years. If you can earn .43 percent per month, how much will you have to deposit today?
Answers
Answer:
$ 43,135.67
Explanation:
The amount required today is the present value of the future expected amount in 11 years computed using the present value formula below:
PV=FV/(1+r)^n*m
PV=the unknown present value
FV=$76,000
r=monthly interest rate=0.43%
n=number of years=11
m=number of months in 1 year=12
PV=$76,000/(1+0.43%)^(11*12)
PV=$76,000/(1+0.43%)^132
PV=$76,000/1.761883042
PV=$ 43,135.67
am I correct or not? lmk
Answers
Answer: the answer is actually event marketing I only know that because when I was in normal schooling we played Quizlet all the time
liabilities are generally classified on a balance sheet as
Answers
Liabilities are classified as Current Liability and Non-Current Liability on the Balance sheet.
Liability is an accounting term used to represent debts and obligations which the business owes to others.
Examples of Liability includes Wages payable, Supplies payable, Owed Loans, Notes payable, Income taxes payable, Mortgages payable etcHowever, under the balance sheet, Liability are classified into two sections and includes the Current Liability and Non-Current Liability.The Current liabilities are known as Short term liabilities because they are liabilities that are due and payable within one year. The Non-current liabilities are known as Long-term liabilities because they are liabilities that are due after a year or more.Read more on this here
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Before you move forward, summarize the changes you will need to make to your new budget. Describe these changes in at least two sentences.
Answers
Answer: yes
Explanation:
The right answer on edge is: I need to change my budget so that I save at least $300 per month. Over twelve months, this will increase my savings by $3,600. I also need to change my budget to save for a new computer, so I need to save an extra $100 a month for that. In total, I need to save $400 a month.
Answer:
The right answer on edge is: I need to change my budget so that I save at least $300 per month. Over twelve months, this will increase my savings by $3,600. I also need to change my budget to save for a new computer, so I need to save an extra $100 a month for that. In total, I need to save $400 a month.
Explanation: I just did the test an got a 100
Cheyenne Company started the year with $52800 in its Common Stock account and a balance in Retained Earnings of $38700. During the year, the company earned net income of $42200 and declared and paid $17600 of dividends. In addition, the company sold additional common stock amounting to $24600. As a result, the amount of its retained earnings at the end of the year would be
Answers
Answer:
$63,300
Explanation:
ending balance of retained earnings account = beginning balance + net income - dividends paid = $38,700 + $42,200 - $17,600 = $63,300
Any issuance of common stocks will increase common stock account and possibly additional paid in capital, increasing total stockholders' equity but it will not increase retained earnings.
What actions can people take to reduce hunger in local and global settings? Explain in details pls
Answers
Answer:
Kindly check explanation
Explanation:
Hunger often stems from poverty, Famine, inflation, war and so on. However, factors which often has a direct impact on food and coukd lead to hunger include poverty and Famine. To reduce or forestall this problem on a local and global scale, necessary steps which should be taken are those which tends to address the issue of food security. Which includes the empowerment of farmers and good funding and monitoring of the agricultural sector. Through this food cultivation could be done on a multi dimensional scale by providing support in terms of machinery, low interest loans in otter to enable farmers and other related stakeholders get access to the needs d capital for the development of their agricultural business. Also, good road network for easy transportation of farm produce. Alternative methods of watering such as irrigation farming should be upgraded as this could prove vital during periods of Rainfall shortage. The distribition of foods including adequate regularozation of prices is also key in other to prevent artificial inflation or scarcity in a bid to accrue higher profit.
If Chinwe owes $2,164.00, what would her quarterly payments be?
Answers
Answer:
$541.00
Explanation:
2164 / 4 = 541
Based on the calculation, Chinwe's quarterly payment would be equal to $541.00.
What is a quarterly payment?A quarterly payment can be defined as a cumulative total of monthly payments that are made by an individual or business organization, four (4) times in a year or an annual basis. This ultimately implies that, a quarterly payment would be paid in four (4) installments only.
Given the following data:
Debt = $2,164.00.
Quarterly payment = 2,164.00/4
Quarterly payment = $541.00.
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Which of the following entails the greatest risk for the exporter (seller)? (Note: items listed in random order) - Documentary collection - Open account -Advanced payment -Back-to-back loan -Letter of credit
Answers
The option that entails the greatest risk for the exporter (seller) is the open account.
An open account is a payment method where the exporter ships the goods to the importer without receiving any payment upfront. The exporter trusts that the importer will pay for the goods at a later agreed-upon date.
This method carries a high risk for the exporter because they have no guarantee of receiving payment. If the importer fails to pay or delays payment, the exporter may face financial losses. There is also a risk of non-payment due to economic or political instability in the importer's country.
In contrast, other payment methods offer more security for the exporter. For example, advanced payment involves the importer paying the exporter before the goods are shipped, minimizing the risk of non-payment. Documentary collection and letter of credit are also more secure methods as they involve banks acting as intermediaries to ensure payment.
In conclusion, the open account method carries the greatest risk for the exporter as it relies solely on the trust and financial stability of the importer.
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coarse hero the components of the strategy are: select one: a. competitive advantage, environment, products, mission. b. allocation of necessary resources, purposes or goals, market products and basic goals of the company. c. objectives, action plan, programmes and resources.
Answers
c. goals, an action plan, resources, and programs are the major components of the strategy.
Describe general tactics?The basic tactics you'll use to accomplish your goals and, by extension, your vision will be grouped under "generic strategies." Once these are set up, you may establish the performance initiatives and shorter-term priorities that specify the "who, what, and when" resources you will use to complete them. You must delve deeper and provide an explanation for how you plan to achieve your goals in order to be even more explicit with operational matters.
What is SWOT?A SWOT analysis, which stands for strengths, weaknesses, opportunities, and threats, is a summary of the present scenario your firm is in from these four important angles. It serves as a picture of the options available to you and the dangers you
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How much will you earn from your $1000 savings if you’re offered10% compound interest over three years?
Answers
Our total earnings from your $1000 savings at a 10% compound interest rate over three years would be $331.
To calculate how much you will earn from your $1000 savings with a 10% compound interest over three years, you can follow these steps:
1. Identify the initial principal (P): $1000
2. Identify the annual interest rate (R): 10% (0.10 as a decimal)
3. Identify the number of years (t): 3
Now, apply the compound interest formula: \(A = P(1 + R)^t\)
\(A = 1000 × (1 + 0.10)^3 \\A = 1000 × (1.10)^3\\A = 1000 × 1.331\)
A = $1331
So, after three years, your savings will have grown to $1331. To find the earnings, subtract the initial principal:
Earnings = A - P
Earnings = $1331 - $1000
Earnings = $331
You will earn $331 from your 1000 savings if you're offered 10% compound interest over three years.
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Joe's company is looking to make a number of improvements. The firm would like to maximize potential volume and reserved instance (RI) discounts across multiple accounts and also apply service control policies on member accounts. Which service or tool can be used to gain these benefits
Answers
The service or tool that could be used for gaining the benefits should be AWS Orgs.
The information related to AWS Orgs is as follows:
AWS Organization should be an account management service. In this, there are multiple AWS accounts that should be consolidated for developing and managing. As an organization administrator, the accounts should be developed and the existing accounts should be invited for joining the organization.Therefore we can conclude that the service or tool that could be used for gaining the benefits should be AWS Orgs.
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as a digital marketer setting up a search engine marketing ad, you would like to include an ad extension that provides additional information specifically for a product. which extension should you choose? 1 point
Answers
As a digital marketer setting up a search engine marketing ad, you would like to include an ad extension that provides additional information specifically for a product. You should choose Price extension.
What are price extensions?
Price Extensions are an extension that shows searchers your goods or services and their associated costs. Only the ads that are listed at the very top of the results page will display price extensions. As a result, users can find exactly what they're looking for at any time. As a result, you get more clicks and more people are directed to your conversion experiences.
What is the pricing for extensions?
Extension pricing refers to a business approach in which all places and geographies, regardless of any other considerations, have the same prices for all products.
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the implications of the erg theory is that we need to recognize which of the following? question 21 options: the multiple needs that may be driving an individual at a given point understand group behaviors job design is critical to motivation how to reward employees better
Answers
The ERG hypothesis implies that we must acknowledge one of the following The urge to feel important, respected, and accepted by one's peers is referred to as the self-actualization process.
Of the following concepts places the most emphasis on human motivational needs?Process theories place a strong emphasis on human motivational needs. theories. Theories of content focus on the mental processes that shape behavior. The most fundamental physical demands of humans are physiological, and in the job, adequate heat, air, as well as a base income are required to assure existence.
Which need is the most critical in the hierarchy of needs?Self-actualization is the highest need to on Maslow's list of needs. This yearning is the impulse to live up to our full potential. Maslow asserts that this requirement can only be satisfied once all other needs have been supplied.
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which of the following situations can cause items on the balance sheet to change in a way that is not reflected in the three cash flow activities section of the scf? (check all that apply) 1.No Answer 2.Large cash investing and financing activitie 3.Acquisition / divestiture of a business entity 4.Subsidiaries in other industries 5.Foreign currency translation adjustments K
Answers
Option (2), (3) and (5), Situations that can cause items on the balance sheet to change in a way that is not reflected in the three cash flow activities section of the statement of cash flows (SCF) include large cash investing and financing activities, acquisition/divestiture of a business entity, and foreign currency translation adjustments.
1. No answer: This option is not relevant to the question and therefore cannot be selected as an answer.
2. Large cash investing and financing activities: Large cash investing and financing activities can cause items on the balance sheet to change in a way that is not reflected in the three cash flow activities section of the SCF. For example, if a company issue bonds to raise cash, the increase in liabilities would be reflected in the financing activities section of the SCF, but the actual cash received would not be reflected in the operating, investing, or financing activities section. Similarly, if a company purchases a new property, plant, and equipment (PP&E) using cash, the decrease in cash would be reflected in the investing activities section, but the actual impact on the balance sheet (increase in PP&E and decrease in cash) would not be reflected in any of the three sections.
3. Acquisition/divestiture of a business entity: When a company acquires or divests a business entity, the impact on the balance sheet may not be reflected in the three cash flow activities section of the SCF. For example, if a company acquires a subsidiary, the increase in assets and liabilities would be reflected in the investing activities section of the SCF, but the actual cash paid would not be reflected in any of the three sections.
4. Subsidiaries in other industries: This option is not relevant to the question and therefore cannot be selected as an answer.
5. Foreign currency translation adjustments: Foreign currency translation adjustments can cause items on the balance sheet to change in a way that is not reflected in the three cash flow activities section of the SCF. For example, if a company has foreign subsidiaries, the translation of its financial statements from its local currency to the reporting currency can result in changes to the balance sheet that are not reflected in any of the three sections.
In conclusion, options 2, 3, and 5 can cause items on the balance sheet to change in a way that is not reflected in the three cash flow activities section of the SCF.
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Melinda kept a record of her spending for the week. She spent $25 to put gas in the car, bought a new shirt for a total of $22. 38, played putt-putt golf with some friends that cost $6. 95 and paid $38. 71 for a few groceries. What was the total of Melinda’s expenses for the week? a. $68. 24 b. $86. 09 c. $91. 94 d. $93. 4.
Answers
The total of Melinda's expenses for the week is $93.4. She spent $25.00 on gas, $22.38 on a new shirt, $6.95 on putt-putt golf, and $38.71 on groceries. Adding up all these amounts, we get the total of $93.40. Thus, option (d) is correct.
To calculate the total expenses, we add up all the amounts Melinda spent during the week. The given expenses are as follows:
Gas: $25.00
New shirt: $22.38
Putt-putt golf: $6.95
Groceries: $38.71
Adding these amounts together, we get:
$25.00 + $22.38 + $6.95 + $38.71 = $93.04
Therefore, the total of Melinda's expenses for the week is $93.40 which corresponds to option (d).
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includes communicating ethical values to others, rewarding ethical behavior, and treating followers with care and concern.
Answers
Honesty, fairness, and equity in interpersonal, professional, and academic interactions, as well as in research and scholarly endeavors, are hallmarks of ethical behavior. Respect for the rights, dignity, and diversity of individuals and groups is at the heart of ethical behavior.
What is an illustration of moral conduct?
In the workplace, examples of ethical behavior include abide by the rules of the company, communicate effectively, accept responsibility, and treat your coworkers with respect and trust.
What are four ethical conducts?
Honesty, fairness, integrity, and understanding are all parts of ethical behavior. A company-wide code of ethics can be one of several strategies for fostering a moral work environment.
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