Submitted by: Submitted by catinau
Views: 102
Words: 415
Pages: 2
Category: Business and Industry
Date Submitted: 08/28/2014 04:51 PM
E6-5
FV-AD = 5,000 (FVD-OA20,12%)1.12
FV-AD = 5.000 72.05244) 1.12
FV-AD = 403,494
FV-0A =5000(FVD-OA20,12%)
FV-OA = 5000 (72.05244)
FV-OA = 360,262
E6-12
Building A
PV = $600.000
Building B
PV = $606,118.08
Building C
PV=$595,098
Building C is the answer it has the smallest PV
E7-2
1. Cash balance of $925,000. The checking account balance shouldbe reported as cash. The certificates of deposit of $1,400,000 investment, the cash advance to subsidiary of $980,000 should be a receivable, and the utility depositof $180 should be identified as a receivable from the gas company.
2. Cash balance is $484,650
Checking account balance $500,000
Overdraft (17,000)
Petty cash 300
Coin and currency 1,350
$484,650
Restricted cash is as noncurrent.
Cash balance is $599,800 computed as follows:
Checking account balance $590,000
Certified check from customer 9,800
$599,800
The check for $11,000 should be a receivable.
Cash restricted should be described in a note indicating the type of arrangement and amount. Postage stamps on hand are reported as part of office supplies inventory or prepaid expenses.
4. Cash balance is $90,000
Checking account balance $42,000
Money market mutual fund 48,000
$90,000
The NSF check received should be reported as a receivable.
5. Cash balance is $700,900 computed as follows:
Checking account balance . $700,000
Cash advance received from customer 900
$700,900
Cash restricted for future plant expansion of $500,000 is reported as a noncurrent asset. Short-term Treasury bills of $180, reported as a temporary investment. Cash advance received from customer of $900 should reported as a liability; cash advance of $7,000 to company executive e reported as a receivable; refundable deposit of $26,000 reported as a receivable.
E7-5
(A)
1. June 3 Accounts Receivable—Arquette 2,000
Sales...