D103 Exam 1 Questions with Correct Answers
A company has the following cash balances:
Large bank-$ 127,000
Small bank-$ 17,000
Continental bank-$ (42,000)
Petty cash-$ 450
3-month treasury bill-$ 60,000
CD maturing in 18 months-$ 100,000
What is the amount of cash and cash equivalents that should be reported?
$204,450 = $127,000 + $17,000 + $450 + $60,000
A company has the following items at year-end:
· cash in bank: $30,000
· petty cash: $500
· short-term paper with maturity of two months: $7,000
· postdated checks: $2,000
What amount should be reported as cash and cash equivalents in the balance sheet?
$37,500 = $30,000 + $500 + $7,000
A company has the following items at year-end:
· cash in bank - checking account of $18,500
· cash on hand of $500
· post-dated checks received totaling $3,500
· certificates of deposit totaling $124,000
,How much should be reported as cash in the balance sheet?
$19,000 = $18,500 + $500
A company has the following items at year-end:
· cash in bank: $35,000
· petty cash: $300
· short-term paper with maturity of 120 days: $5,500
· postdated checks: $1,400
How much should be reported as cash in the balance sheet?
$35,300 = $35,000 + $300
A company has cash in the bank of $20,000, restricted cash in a separate account of
$3,000, and a bank overdraft in an account at another bank of $1,000.
How much should the company report in cash?
$20,000
A company has cash in the bank of $10,000, restricted cash in a separate account of
$1,000 deemed immaterial, and a bank overdraft of $3,000 in the same bank that houses
the $10,000 in cash.
What amount should this company report as cash in the balance sheet?
$8,000 = $10,000 + $1,000 - $3,000
A company has the following items:
Cash
, $ 10,000
Petty cash
$ 100
Short term paper
$ 1,500
Postdated customer check
$ 2,000
Bank overdraft
$ 50
How much should the company report as cash equivalents?
$1,500
All of the following may be included under the heading of "cash" except
a. currency.
money market funds.
In which account are post-dated checks received classified?
receivables.
Under which section of the balance sheet is "cash restricted for plant expansion"
reported?
noncurrent assets.
A bank overdraft from a different bank should be
reported as a current liability.
A company has the following cash balances:
Large bank-$ 127,000
Small bank-$ 17,000
Continental bank-$ (42,000)
Petty cash-$ 450
3-month treasury bill-$ 60,000
CD maturing in 18 months-$ 100,000
What is the amount of cash and cash equivalents that should be reported?
$204,450 = $127,000 + $17,000 + $450 + $60,000
A company has the following items at year-end:
· cash in bank: $30,000
· petty cash: $500
· short-term paper with maturity of two months: $7,000
· postdated checks: $2,000
What amount should be reported as cash and cash equivalents in the balance sheet?
$37,500 = $30,000 + $500 + $7,000
A company has the following items at year-end:
· cash in bank - checking account of $18,500
· cash on hand of $500
· post-dated checks received totaling $3,500
· certificates of deposit totaling $124,000
,How much should be reported as cash in the balance sheet?
$19,000 = $18,500 + $500
A company has the following items at year-end:
· cash in bank: $35,000
· petty cash: $300
· short-term paper with maturity of 120 days: $5,500
· postdated checks: $1,400
How much should be reported as cash in the balance sheet?
$35,300 = $35,000 + $300
A company has cash in the bank of $20,000, restricted cash in a separate account of
$3,000, and a bank overdraft in an account at another bank of $1,000.
How much should the company report in cash?
$20,000
A company has cash in the bank of $10,000, restricted cash in a separate account of
$1,000 deemed immaterial, and a bank overdraft of $3,000 in the same bank that houses
the $10,000 in cash.
What amount should this company report as cash in the balance sheet?
$8,000 = $10,000 + $1,000 - $3,000
A company has the following items:
Cash
, $ 10,000
Petty cash
$ 100
Short term paper
$ 1,500
Postdated customer check
$ 2,000
Bank overdraft
$ 50
How much should the company report as cash equivalents?
$1,500
All of the following may be included under the heading of "cash" except
a. currency.
money market funds.
In which account are post-dated checks received classified?
receivables.
Under which section of the balance sheet is "cash restricted for plant expansion"
reported?
noncurrent assets.
A bank overdraft from a different bank should be
reported as a current liability.
