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Financial Accounting

15th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781337272124

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BuyFindarrow_forward

Financial Accounting

15th Edition
Carl Warren + 2 others
Publisher: Cengage Learning
ISBN: 9781337272124
Chapter 8, Problem 26E
Textbook Problem
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El Dorado Inc. has monthly cash expenses of $168,500. On December 31, the cash balance is $1,415,400.

  1.     a.            Compute the ratio of cash to monthly cash expenses.
  2.     b.            Chapter 8, Problem 26E, El Dorado Inc. has monthly cash expenses of 168,500. On December 31, the cash balance is 1,415,400.  Based on (a), what are the implications for El Dorado Inc.?

(a)

To determine

Compute ratio of cash to monthly cash expenses.

Explanation of Solution

Cash and cash equivalents: Cash is the money readily available in the form of currency. Cash equivalents are the near-cash items, which are readily convertible into cash.  Cash equivalents have a maturity period of three months, or less than 3 months...

(b)

To determine

Determine the implications of ED incorporation.

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Chapter 8 Solutions

Financial Accounting
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