Harris Paper Final 5 (2) (1)

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41 Problem No. 1  AACA Corporation was incorporated on Dec. 1, 2021, and began operations one week later. Before closing the books for the fiscal year ended Nov. 30, 2022, the controller prepared the following financial statements:  AACA Corporation Statement of Financial Position November 30, 2022  Assets    Current assets       Cash  P150,000     Marketable securities, at cost    60,000     Accounts receivable    450,000     Allowance for doubtful accounts    (  59,000)     Inventories  430,000     Prepaid insurance  15,000     Total current assets    1,046,000  Property, plant and equipment    426,000  Less accumulated depreciation     ( 40,000)      Property, plant and equipment, net      386,000  Research and development costs        120,000  Total assets  P1,552,000      Liabilities and Shareholders' Equity    Current liabilities        Accounts payable and accrued…

QUESTION #1 Populate the following “T-accounts” with the following data, please make sure where double entry is required $100 million in mortgage-backed securities (MBS) $200 million demand deposits $20 million in reserves held by banks $100 million in Treasury securities held by banks $50 million in Treasury securities held by the Fed $5 million in overnight borrowing by banks from the Fed   Households                                           Banks                         Federal Reserve                            Treasury ___A_______L___                  ___A_______L___                 ___A_____L___                             ___A_____L_

5. The balance sheet of the central government account shows the following balances as at the end of the year 31/12/2019 Assets Cash at Bank Advances: Staff Department and Agencies Loans: NGO's Public Corporations. Companies Investment: General Stocks and shares International Agencies Liabilities Loans: Domestic Foreign Trust Funds and Deposits Other Liabilities General Revenue Revenue GHC 000 Tax Revenue (690) 6,325 4,186 48 8,846 6,248 714 5,293 4.786 35,756 During the year 2020, the government financial business and transactions undertaken by the departments were summarized; GHC 5,922 13,854 11,980 2,077 1.923 35,756 Property Excise Duties Petroleum Tax Other taxes on domestic goods Import Duties Export(Cocoa) Value Added Tax (VAT) Personal taxes (PAYE) Personal taxes (Self Employed) Reconstruction Levy Fees and Charges Sales of goods and services. Rent Interest and Profit Dividend Company taxes Revenue Grant Advances-Recovery Trust Funds: Deposits-Receipts Expenditure Personal…

12 - CODE AND NAME OF THE ACCOUNT WILL BE DEBT 102 02 BANK CURRENCY DTH 62.000121 02 SHARES OF FX RECEIVABLES 62.000What transaction does the above record belong to?A) Acceptance of the policy by the bankB) Endorsement of the policyC) Returning the policy to the bankD) Payment of the policy by the bankE) Collection of the policy by the bank

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The table shows a bank's balance sheet. The bank has no excess reserves and there is no currency drain. Calculate the bank's desired reserve ratio. >>> Answer to 1 decimal place. The bank's desired reserve ratio is percent of deposits.

Question 13 of 42 View Policies Current Attempt in Progress Stansfield Corporation had the following activities in 2025. 1. Payment of accounts payable $770,000. 4. Collection of note receivable $100,000. 2. Issuance of common stock $250,000. 5. Issuance of bonds payable $510,000. 3. Payment of dividends $350,000. 6. Purchase of treasury stock $46,000. -/2 E Compute the amount Stansfield should report as net cash provided (used) by financing activities in its 2025 statement of cash flows (Show amounts that decrease cash flow with either a - sign e.g. -15,000 or in parenthesis e.g. (15,000).) Net cash by financing activities $

Problem 23-9 (LG 23-3) Use the data provided for Gotbucks Bank, Incorporated, to answer this question. Gotbucks Bank, Incorporated (dollars in millions) Assets Liabilities and Equity $ 45 Core deposits 35 Federal funds $ 28 Cash Federal funds Loans (floating) Loans (fixed) 65 120 Euro CDs 145 80 Equity $ 280 Total liabilities and equity 42 Total assets $ 280 Notes to the balance sheet: Currently, the fed funds rate is 10 percent. Variable-rate loans are priced at 3 percent over LIBOR (currently at 11 percent). Fixed-rate loans are selling at par and have five-year maturities with 12 percent interest paid annually. Assume that fixed rate loans are non-amortizing. Core deposits are all fixed rate for two years at 8 percent paid annually. Euro CDs currently yield 9 percent. a. What is the duration of Gotbucks Bank's (GBI) fixed-rate loan portfolio if the loans are priced at par? (Do not round intermediate calculations. Round your answer to 3 decimal places. (e.g., 32.161)) b. If the…

Fill in the entries in the following T-accounts when central bank sells TL 100.000 of government bonds to Halkbank Assets Halkbank Liabilities Central Bank Assets Liabilities

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22- Which of the following is a promissory note, a written promise today, issued by a large, creditworthy corporation or a municipality, original maturity of less than one year? a. Eurodollar CD b. Commercial Papers c. Certificate of Deposits d. Treasury Bills

Chapter 12: Cash and Marketable Securities Management Problem 2 (Determining Float) Oscar's checkbook shows a balance of P6,000. A recent statement from the bank (received last week) shows that all checks written as of date of the statement have been paid except numbers 423 and 424, which were for P620 and P400, respectively. Since the statement date checks 425, 426, and 427 have been written for P320, P700 and P440, respectively. There is a 75 percent probability that checks 423 and 424 have been paid by this time. There is a 40 percent probability that checks 426, 426 and 427 have been paid. Required: a. What is the total value of the five checks outstanding? b. What is the expected value of payments for the five checks outstanding? c. What is the difference between parts (a) and (b)? This represents a type of float.

QUESTION 6 E18.7 E18.7 (LO 3) Nordstrom, Inc. operates department stores in numerous states. Suppose selected financial statement data (in millions) for 2020 are presented below. Compute liquidity ratios. End of Year Beginning of Year Cash and cash equivalents $ 795 $ 72 Accounts receivable (net) 2,035 1,942 Inventory 898 900 Other current assets 326 303 Total current assets $4,054 $3,217 Total current liabilities $2,014 $1,601 For the year, net credit sales were $8,258 million, cost of goods sold was $5,328 million, and net cash provided by operating activities was $1,251 million. Instructions Compute the current ratio, accounts receivable turnover, average collection period, inventory turnover, and days in inventory at the end of the current year.

Problem 9 JEPOY Corporation is in the process of preparing its bank reconciliation for the month of February 2021. The company accountant discovered the following: Cash in bank balance P???????? Checks paid and recorded during the month Number 1001 5,0001002 6,0001003 7,0001004 8,000 Actual deposits made during the month 15,000 Deposits erroneously recorded twice 2,800 Unrecorded disbursements during the month 25,700   The analysis of the bank statement revealed the following: Bank balance P120,000 The following checks cleared with the bank 999 2,5001001 5,0001004 8,000 The bank deducted the following Notes payable payment 16,000Bank service charges 800 The bank credited the following Cash deposits from Jepoy 10,000Loan proceeds 7,000Interest Income 300   How much is the adjusted balance per bank?

Presented below is a partial trial balance for the Messenger Corporation at December 31, 2021. Account Title Debits 36,000 207,000 42,000 150, 000 8,000 Credits Cash and cash equivalents Accounts receivable Raw materials inventory Notes receivable Interest receivable Interest payable Investments Land Buildings Accumulated depreciation-buildings Work in process inventory Finished goods inventory Equipment Accumulated depreciation- equipment Franchise (net of amortization) Prepaid insurance (for the next year) Deferred revenue Accounts payable Notes payable Salaries payable Allowance for uncollectible accounts Sales reyenue 13,000 45,000 130,000 1,560,000 770, 000 44,000 95,000 430,000 260,000 1,320, 000 66,000 54, 000 300,000 560,000 12,000 30,000 8,500, 000 Cost of goods sold Salaries expense 530,000 54,000

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