Financial Accounting
3rd Edition
ISBN: 9780078025549
Author: J. David Spiceland, Wayne M Thomas, Don Herrmann
Publisher: McGraw-Hill Education
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Question
Chapter 4, Problem 4.4BE
To determine
Whether the firm reports each of the following items as part of cash and cash equivalents in the balance sheet .
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Use the following to answer questions 1 – 4
Determine whether the firm reports each of the following
items as part of cash and cash equivalents in the balance
sheet.
Cash or Cash Equivalent?
(Yes or No)
Item
1 Accounts receivable
2 30 day treasury bill
3 Checks
4.93 day Certificate of Deposit
Use the image for the following question:
Q1. Honesty & Co. What is the adjusted cash amount of cash receipts during OctoberA. 760,650B. 772,150C. 779,650D. 789,650
Q2. Honesty & Co. What is the adjusted amount of disbursements per bank during October? A. 624,700B. 605,700C. 633,200D. 615,700
Q3. Honesty & Co. What is the adjusted cash balance as of September 30, 2021? A. 3,000B. 2,500C. None of the optionsD. 2,000
Q4. Honesty & Co. What is the unadjusted amount of cash receipts per bank during October? A. 789,650B. None of the optionsC. 780,450D. 790,450
Q5. Honesty & Co. What is the unadjusted amount of cash disbursements per book during October? A. None of the optionsB. 640,300C. 630,300D. 633,200
Which of the following options indicate how quickly accounts receivables are converted into cash?
Select one:
a. Total assets turnover
b. Days to collect accounts receivable
c. Working capital
d. Accounts receivable turnover
Chapter 4 Solutions
Financial Accounting
Ch. 4 - Prob. 1RQCh. 4 - Prob. 2RQCh. 4 - Prob. 3RQCh. 4 - Prob. 4RQCh. 4 - What is meant by the fraud triangle, and what can...Ch. 4 - Prob. 6RQCh. 4 - Prob. 7RQCh. 4 - Prob. 8RQCh. 4 - What is meant by separation of duties?Ch. 4 - Prob. 10RQ
Ch. 4 - Prob. 11RQCh. 4 - Prob. 12RQCh. 4 - Prob. 13RQCh. 4 - Prob. 14RQCh. 4 - Prob. 15RQCh. 4 - Prob. 16RQCh. 4 - Prob. 17RQCh. 4 - Prob. 18RQCh. 4 - Prob. 19RQCh. 4 - Prob. 20RQCh. 4 - Prob. 21RQCh. 4 - 22.What are two primary reasons that the companys...Ch. 4 - Prob. 23RQCh. 4 - Prob. 24RQCh. 4 - Prob. 25RQCh. 4 - Prob. 26RQCh. 4 - Prob. 27RQCh. 4 - Describe the operating, investing, and financing...Ch. 4 - Prob. 29RQCh. 4 - Prob. 30RQCh. 4 - Prob. 4.1BECh. 4 - Match each of the following components of internal...Ch. 4 - Prob. 4.3BECh. 4 - Prob. 4.4BECh. 4 - During the year, the following sales transactions...Ch. 4 - Prob. 4.6BECh. 4 - Prob. 4.7BECh. 4 - Prob. 4.8BECh. 4 - Prob. 4.9BECh. 4 - Prob. 4.10BECh. 4 - Prob. 4.11BECh. 4 - Prob. 4.12BECh. 4 - Prob. 4.13BECh. 4 - Prob. 4.14BECh. 4 - Prob. 4.15BECh. 4 - On January 12, Ferrell Incorporated obtains a...Ch. 4 - Prob. 4.17BECh. 4 - Prob. 4.18BECh. 4 - Prob. 4.1ECh. 4 - Prob. 4.2ECh. 4 - Prob. 4.3ECh. 4 - Prob. 4.4ECh. 4 - Below are several amounts reported at the end of...Ch. 4 - Prob. 4.6ECh. 4 - Prob. 4.7ECh. 4 - Prob. 4.8ECh. 4 - Prob. 4.9ECh. 4 - Prob. 4.10ECh. 4 - Prob. 4.11ECh. 4 - Prob. 4.12ECh. 4 - Prob. 4.13ECh. 4 - Prob. 4.14ECh. 4 - Prob. 4.15ECh. 4 - Below are cash transactions for Goldman...Ch. 4 - Prob. 4.17ECh. 4 - Prob. 4.18ECh. 4 - Consider the following information: 1.Service...Ch. 4 - Prob. 4.20ECh. 4 - Prob. 4.1APCh. 4 - Prob. 4.2APCh. 4 - Prob. 4.3APCh. 4 - Prob. 4.4APCh. 4 - Prob. 4.5APCh. 4 - Prob. 4.1BPCh. 4 - Prob. 4.2BPCh. 4 - Prob. 4.3BPCh. 4 - Prob. 4.4BPCh. 4 - Prob. 4.5BPCh. 4 - Prob. 4.1APCPCh. 4 - Prob. 4.2APFACh. 4 - Prob. 4.3APFACh. 4 - Prob. 4.4APCACh. 4 - Prob. 4.5APECh. 4 - Prob. 4.7APWC
Knowledge Booster
Similar questions
- Computing; the Cash Balance Listed below are ten items that may be found on a balance sheet. Required: 1. Indicate with or no whether each of the items should be included in the cash balance presented on the balance sheet. Also indicate the normal balance sheet treatment for those items not included as cash. 2. Next Level What is the overriding concept in determining whether an item included in or excluded from cash?arrow_forwardTrue (t) or False (f) ______ Savings accounts are usually classified as cash on the balance sheet.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
- _______________ 4. When accounts receivable is factored, the accounts payable shall be credited. True or False?_______________ 5. The interest on a non-interest bearing note is equal to its discount amount._______________ 6. The practice of realizing cash from accounts receivable before its maturity date is widespread. Defalcation is one of them. True or False?arrow_forwardExplain and answer the following questions below: 1. What is a compensating balance? Site an example. 2. Explain the subsequent measurement of notes receivable. 3. What is cash?arrow_forward8. Which of the following is usually considered cash? a. Certificates of deposit b. Checking accounts c. Money market savings certificates d. Post-dated checksarrow_forward
- All of the following may be included in cash except a. currency b. checking account balance c. saving account balancearrow_forwardWhat are the two (2) adjustments required to reconcile the Cash Book with the Bank Statement? Explain what each adjustment represents.arrow_forwardWhich of the following balance sheet items are commonly associated with the purchases and cash disbursements cycle? A Inventory and accounts payable B Purchases and accounts receivable C Cash paid to vendors D Cash received from the sale of inventoryarrow_forward
- 23 - The cash account is debited due to the following transaction?A) CASH PURCHASEB) DEPOSITS INTO THE CREDIT ACCOUNTC) NONED) INVESTMENTS IN THE BANKE) MAKING DEBT PAYMENTarrow_forwardhello may i ask how much is the net adjustment to the cash account? including debit or credit thank you very mucharrow_forward1.What is the Adjusted End Cash balance for the Bank? a. $112670.42 b. $152,213.03 c. $120,659.46 d. None of the above 2. What total amount should be added to the company’s book records? a. 4500.00 b. 49500.00 c. 45,000.00 d. 7,989.04 3. What total amount should be deducted from the company’s book records? a. Both 1440.66 and 44.00 b. 1440.66 c. 7989.04 d. 44.00arrow_forward
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