FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
9th Edition
ISBN: 9781119595724
Author: Kimmel
Publisher: WILEY C
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Chapter 7, Problem 14Q
To determine
The amount of cash to be reported on balance sheet
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Students have asked these similar questions
Which one of the following affects cash during a period?
Recording depreciation expense.
Declaration of a cash dividend.
Write-off of an uncollectible account receivable.
Payment of accounts payable.
Exercise 1-2
The following items are included in the Cash general ledger account of SANTAN
COMPANY as of Dec. 31, 2019:
1. Current account with MBTC
2. Current account with MBTC (overdraft)
3. Petty cash fund (with P350 unreplenished vouchers)
4. Change fund (originally set up by retaining P250 in each
of the five cash registers)
5. Cash in bank established as sinking fund
6. Undeposited cash collections (including one check for
P400 dated Jan. 2, 2020)
7.
Cash deposited with a government agency as bidder's
bonds
8. Cash advances for travelling salesmen
9. Cash in bank (under receivership)
10. Cash for meter deposit with a public utility (Meralco)
Exercise 1-3
P100,000
20,000
1,000
1,230
40,000
REQUIRED:
1. At what amount should cash as a current asset appear in the balance sheet?
2. How will the other accounts be reported?
accounts
5. Change fund
6. Promissory note from cashier with no due date
12,400
7. Currency and coins per count
8. Cash in bank (outstanding checks amounting to…
Which of the following accounts would be found in the Financing Activities section of the statement of cash flows?
a.Inventory
b.Income Taxes Payable
c.Accounts Receivable
d.Dividends
Chapter 7 Solutions
FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
Ch. 7 - A local hank reported that it lost 150,000 as the...Ch. 7 - Prob. 2QCh. 7 - Prob. 3QCh. 7 - Prob. 4QCh. 7 - Prob. 5QCh. 7 - Prob. 6QCh. 7 - Prob. 7QCh. 7 - Prob. 8QCh. 7 - Prob. 9QCh. 7 - Prob. 10Q
Ch. 7 - Prob. 11QCh. 7 - Prob. 12QCh. 7 - Prob. 13QCh. 7 - Prob. 14QCh. 7 - Prob. 15QCh. 7 - Prob. 16QCh. 7 - Prob. 17QCh. 7 - Prob. 18QCh. 7 - Prob. 19QCh. 7 - Prob. 20QCh. 7 - Prob. 21QCh. 7 - Prob. 22QCh. 7 - Prob. 23QCh. 7 - Prob. 24QCh. 7 - Prob. 25QCh. 7 - Prob. 26QCh. 7 - Prob. 27QCh. 7 - Prob. 28QCh. 7 - Match each situation with the fraud triangle...Ch. 7 - Prob. 7.3BECh. 7 - Prob. 7.4BECh. 7 - Prob. 7.5BECh. 7 - While examining cash receipts information, the...Ch. 7 - Prob. 7.8BECh. 7 - Luke Rove is uncertain about the control features...Ch. 7 - Prob. 7.10BECh. 7 - Prob. 7.11BECh. 7 - Prob. 7.12BECh. 7 - Prob. 7.13BECh. 7 - Prob. 7.15BECh. 7 - Prob. 7.16BECh. 7 - Prob. 7.17BECh. 7 - Prob. 7.1DIECh. 7 - Prob. 7.2DIECh. 7 - Prob. 7.3DIECh. 7 - Prob. 7.4aDIECh. 7 - Prob. 7.4bDIECh. 7 - Prob. 7.1ECh. 7 - Prob. 7.2ECh. 7 - Prob. 7.5ECh. 7 - Prob. 7.6ECh. 7 - Prob. 7.7ECh. 7 - Prob. 7.9ECh. 7 - Prob. 7.10ECh. 7 - Prob. 7.11ECh. 7 - Prob. 7.12ECh. 7 - Prob. 7.13ECh. 7 - Prob. 7.14ECh. 7 - Prob. 7.16ECh. 7 - Prob. 7.18ECh. 7 - Prob. 7.19ECh. 7 - Prob. 7.1APCh. 7 - Prob. 7.2APCh. 7 - Prob. 7.1EYCTCh. 7 - Prob. 7.2EYCTCh. 7 - Prob. 7.3EYCTCh. 7 - Prob. 7.4EYCTCh. 7 - Prob. 7.5EYCTCh. 7 - Prob. 7.6EYCTCh. 7 - Prob. 7.7EYCTCh. 7 - Prob. 7.8EYCTCh. 7 - Prob. 7.9EYCTCh. 7 - Prob. 7.1IECh. 7 - Prob. 7.2IE
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- On December 31, Harrison Company reports the following assets: Which of these are included in, and excluded from, cash on the companys balance sheet?arrow_forwardHow much is the amount of Cash and Cash Equivalents to be presented in the balance sheet? How much from the list above should be presented as part of noncurrent assetsarrow_forwardWhich of the following transactions affects both the income statement and the balance sheet? O Collection of accounts receivable O Loan from bank O Depreciation on equipment O Declaration of cash dividend O Purchase of inventory on accountarrow_forward
- What does each of the following definitions refer to: All aspects of the administration of cash, accounts receivables, inventory, accounts payable, short term debt, accrued expenses, etc.arrow_forwardClassify the following cash flows as either operating (O), investing (I), or financing (F) activities. Paid cash interest on outstanding notes.arrow_forwardDescribe the types of assetsthat are typically included under the heading “cash and cash equivalents” on the balance sheet.What is a “cash equivalent”?arrow_forward
- The issuance of notes payable is classified in the statement of cash flows as a(n): a. Operating activity.b. Investing activity.c. Financing activity.d. Noncash activity.arrow_forwardOn which financial statement would the ending balance of the account “accounts receivable” be found?a. Income statementb. Statement of retained earningsc. Balance sheetd. Statement of cash flowsarrow_forwardClassify the following cash flows as either operating (O), investing (I), or financing (F) activities. Received cash interest on a note.arrow_forward
- Accounts Receivable will appear on which of the following financial statements?a. Income statementb. Statement of retained earningsc. Balance sheetd. Statement of cash flowsarrow_forwardHow can you tell by looking at the Statement of Cash Flows of a company that the company collected its accounts receivable?arrow_forwardWhere are cash equivalents disclosed in the financial statements?The _____________ account on the balance sheet. A.) Accounts Recievable B.) Cash C.) Expenses D.) Merchandise Inventory E.) Salesarrow_forward
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