Business, 16.04.2020 21:12 ciarapacheco

The controller for Clint Martinez Co. is attempting to determine the amount of cash to be reported on its December 31, 2017, balance sheet. The following information is provided.

1. Commercial savings account of $633,900 and a commercial checking account balance of $840,800 are held at First National Bank of Yojimbo.

2. Money market fund account held at Volonte Co. (a mutual fund organization) permits Martinez to write checks on this balance, $5,068,600.

3. Travel advances of $184,300 for executive travel for the first quarter of next year (employee to reimburse through salary reduction).

4. A separate cash fund in the amount of $1,504,300 is restricted for the retirement of long-term debt.

5. Petty cash fund of $1,320.

6. An I. O.U. from Marianne Koch, a company customer, in the amount of $158,700.

7. A bank overdraft of $117,400 has occurred at one of the banks the company uses to deposit its cash receipts. At the present time, the company has no deposits at this bank.

8. The company has two certificates of deposit, each totaling $634,300. These CDs have a maturity of 120 days.

9. Martinez has received a check that is dated January 12, 2018, in the amount of $121,210.

10. Martinez has agreed to maintain a cash balance of $528,600 at all times at First National Bank of Yojimbo to ensure future credit availability.

11. Martinez has purchased $1,976,800 of commercial paper of Sergio Leone Co. which is due in 60 days.

12. Currency and coin on hand amounted to $7,759. (a) Compute the amount of cash and cash equivalents to be reported on Martinez Co.’s balance sheet at December 31, 2017.

The amount of Cash and Cash Equivalents reported on December 31, 2017 _$

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 05:50, salvadorperez26

Match the steps for conducting an informational interview with the tasks in each step.

Answers: 1

continue

Business, 22.06.2019 12:00, elianagilbert3p3hh63

Areal estate agent is considering changing her cell phone plan. there are three plans to choose from, all of which involve a monthly service charge of $20. plan a has a cost of $.42 a minute for daytime calls and $.17 a minute for evening calls. plan b has a charge of $.52 a minute for daytime calls and $.15 a minute for evening calls. plan c has a flat rate of $80 with 275 minutes of calls allowed per month and a charge of $.38 per minute beyond that, day or evening. a. determine the total charge under each plan for this case: 150 minutes of day calls and 70 minutes of evening calls in a month. (do not round intermediate calculations. round your answer to 2 decimal places. omit the "$" sign in your response.)c. if the agent will use the service for daytime calls, over what range of call minutes will each plan be optimal? (round each answer to the nearest whole number. include the indifference point itself in each answer.)d. suppose that the agent expects both daytime and evening calls. at what point (i. e., percentage of total call minutes used for daytime calls) would she be indifferent between plans a and b?

Answers: 1

continue

Business, 22.06.2019 15:30, TerronRice

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?

Answers: 1

continue

Business, 22.06.2019 17:30, Nikcoli

Which of the following services will be provided by a full-service broker but not by a discount broker? i. research of potential investment opportunities ii. purchase and sale of stock at your request iii. recommendation of investments a. i and iii b. ii only c. iii only d. i, ii, and ii

Answers: 2

continue

You know the right answer?

The controller for Clint Martinez Co. is attempting to determine the amount of cash to be reported o...