a CFE was hired by B Industrial to investigate suspected fraud. the CFE started analyzing the financial statements in CY2021. Cash $20,000 Accounts payable $11,000 Accounts receivable $15,000 Wages payable $5,000 Capital Stock $5,000 Retained earnings $20,000 Inventory $6,000 Notes payable (3-year term) $8,000 Property, plant equipment, net $8,000 Required: Calculate the quick ratio and current ratio.

The Cash account of Gate City Security Systems reported a balance of $2,490 at December 31, 2024. There were outstanding checks totaling $1,000 and a December 31 deposit in transit of $300. The bank statement, which came from Tri Cities Bank, listed the December 31 balance of $3,810. Included in the bank balance was a collection of $630 on account from Nicole Lee, a Gate City customer who pays the bank directly. The bank statement also shows a $20 service charge and $10 of interest revenue that Gate City earned on its bank balance. Prepare Gate City's bank reconciliation at December 31. Gate City Security Systems Bank Reconciliation December 31, 2024 Bank: Balance, December 31, 2024 ADD: LESS Adjusted bank balance, December 31, 2024 Book: Balance, December 31, 2024 ADD: LESS Adjusted book balance, December 31, 2024

The controller of the Red Wing Corporation is in the process of preparing the company’s 2021 financial statements. She is trying to determine the correct balance of cash and cash equivalents to be reported as a current asset in the balance sheet. The following items are being considered:  Balances in the company’s accounts at the First National Bank; checking $13,500, savings $22,100. Undeposited customer checks of $5,200. Currency and coins on hand of $580. Savings account at the East Bay Bank with a balance of $400,000. This account is being used to accumulate cash for future plant expansion (in 2023). $20,000 in a checking account at the East Bay Bank. The balance in the account represents a 20% compensating balance for a $100,000 loan with the bank. Red Wing may not withdraw the funds until the loan is due in 2024. U.S. Treasury bills; 2-month maturity bills totaling $15,000, and 7-month bills totaling $20,000. Required:1. Determine the correct balance of cash and cash…

2. If HHC has $1,150 cash, $500 of government Treasury bills purchased four months ago, $780 of cash set aside for its workers' compensation insurance, how much will the company report on the balance sheet as "Cash and Cash Equivalents"? Cash and Cash Equivalents