cash equivalents would include each of the following exceptcash equivalents would include each of the following except

C. bank service charges. features of a job costing system include all but which of the following: The appropriate section in the statement of cash flows for reporting the receipt of cash dividends from investments in securities is: Typical cash flows from investing activities include each of the following except: C) proceed from collecting the principal amount of AR arising from customer sales, The cost of workers who assist in or supervise the manufacturing process, not linked to specific units of product is called, For product cost associated with a particular product to be reported on the income statement, A job order costing system would best fit the needs of a company that makes Add the deposits in transit of $3,000 and subtract the outstanding checks of $4,000 to determine the ending balance of $25,960. B Companies often hold cash and cash equivalents to pay short-term debt and hold capital in secure places for future use. In 2016 Rebound recognized an impairment of $200,000 due to a troubled debt restructuring. Accounts receivable. What entry(ies) for income taxes should be recorded for 2016? On February 1, Derrick Company establishes a $200 petty cash fund. Examples of demand deposit accounts include checking accounts and savings accounts. A. an addition to the balance per depositor's records. b. cash over and short 9 ISDA. interest revenue 150 The unadjusted book balance was $26,620. A. a credit to Cash. A. Advanced Accounting Ch. This is because cash equivalents are part of the calculation to determine liquidity ratios. The buyers of these investments should be easily accessible. D. deducted from the book balance. Mild Max would debit: A) $13 million. C. Comply with form and content rules of bankruptcy proceedings. Cash. Cash flow from operations is stable. The principles of internal control do not include, A. management responsibility. Cash cannot be combined with cash equivalents. D. automated controls. $1 (decrease in salaries payable) + $20 (depreciation expense). Related information follows: D) $39 million. cash 150 B) $23 million. C. the money obtained from cashing a petty cash check is given to the custodian. A. You'll get a detailed solution from a subject matter expert that helps you learn core concepts. ___ A code that protects private information. A. addition to the balance per depositor's records. Journal entries are required by the depositor for all of the following except: All of the following would involve a debit memorandum except: e. What entry for income taxes should be recorded in 2020? Gain from the sale of land and buildings: $26 C. Bad debts expense is measured directly, and the allowance for uncollectible accounts balance is measured directly. B) An investing activity. postage expense 140 Cash and cash equivalents refer to the value of a company's assets like short-term bonds, treasury bills, commercial papers, etc. However, both types of financial instruments are very similar and yield similarly low yields. A disbursement system that uses wire, telephone, or computers to transfer cash balances from one ForYearEndedDecember31,2019SalesCostofgoodssoldGrossprofitDirectexpensesSalessalariesAdvertisingStoresuppliesusedDepreciation-equipmentTotaldirectexpenseAllocatedexpensesRentexpenseUtilitiesexpenseShareofofficedepartmentexpensesTotalallocatedexpenseTotalexpenseNetincomeClock$130,00063,70066,30020,0001,2009001,50023,6007,0202,60010,50020,12043,720$22,580Mirror$55,00034,10020,9007,0005004003008,2003,7801,4004,5009,68017,880$3,020Combined$185,00097,80087,20027,0001,7001,3001,80031,80010,8004,00015,00029,80061,600$25,600. A research hypothesis was that students whose parents had attained a higher level of education would on average score higher on the SAT. Marketable securities and money market holdings are equivalent to cash because they are highly liquid and do not have material deviations in value. Sale of inventory on account. D. Provide collateral for a loan. Because cryptocurrencies are not legal tender and not backed by governments or legal entities, U.S. GAAP does not treat cryptocurrency as cash, foreign currency, or cash equivalents. An entity. X & =80 \\ Which of the following is true? the collection of a note receivable by the bank for the depositor. The company's days' sales uncollected is closest to: 53.7 days \qquad\text{Total direct expense}&\text{\hspace{10pt}23,600}&\text{\hspace{10pt}8,200}&\text{\hspace{10pt}31,800}\\ B. B. B.) C) sale of plant assets B.) B. money orders. D. correction of bank errors. Assume a company has been maintaining a receivables factoring program for the past five years and has been experiencing the same level of sales, factoring, and bad debts over that period. What amount of cash did Ireland receive from Cloverdale Bank? B) An investing activity. Note that the Petty Cash account is only used when a petty cash fund is first established or when the amount of the fund is increased or decreased. A) Cash from operating activities increased. In the table above, the fifth column represents the value Apple assigned as cash and cash equivalents. D. bank service charges. A) An operating activity. bank error Decrease in salaries payable, $1 million. Sale of preferred stock for cash, $17 million. Which scenario below is an example of consumer surplus? Cash is the asset most susceptible to fraudulent activities. D. Restricted cash funds cannot be reported as a current asset. The listing of cash received via mail should be sent to each of the following individuals: cashier D) Issuance of common stock Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Fundamentals of Financial Management, Concise Edition, Charles T. Horngren, C William Thomas, Walter T. Harrison Jr., Wendy M Tietz, FS 3345 Lecture 8 - Guest Lecture - DV in the. A. No changes for those departments gross profit percents or their direct expenses are expected except for store supplies used, which will increase in proportion to sales. D. Accounts receivable payable within 60 days cannot be factored. customer High grade marketable equity securities. Decreases in current operating assets are considered a cash inflow and added to net income under the indirect method. 1. signature card 0+x2e2xdx\int_0^{+\infty} x^2 e^{-2 x} d x D. postdated checks, Having different individuals receive cash, record cash receipts, and hold the cash is an example IFRS allows interest payments to be reported as either an operating activity or financing activity and interest received as either an operating activity or investing activity. What Are Cash Equivalents? the last six months of interest is foregone). Cash is the most liquid asset, and it is therefore listed first under the current assets section of D. Quasi-liability account. Effect of Parents' Education on Student SAT Scores. \textbf{Department Income Statements} The Sarbanes Oxley Act (SOX) internal control standards apply only to companies listed on the U.S. exchanges. Dewitt Company gathered the following information in preparing its bank reconciliation on May 31: Cash balance per books, May 31, $3,500; deposits in transit, $1,150; note and interest collected by the bank, $850; bank service charge, $20; outstanding checks, $2,500; NSF check, $170. Current value plus accrued interest. C) U.S. GAAP. This item would be included on the bank reconciliation as a(n): D. The transferee relies on funds from the transferor to maintain operations. to safeguard its assets and to enhance the accuracy and reliability of its accounting records. Pretax financial income (loss) and taxable income (loss) were the same for all years since Rashad has been in business. treasurer. Companies carry cash and cash equivalents for a variety of business reasons. \text{Sales}&\text{\$130,000}&\text{\$55,000}&\text{\$185,000}\\ D. credit Petty Cash for $192. Money orders. B)shoes and apparel B. controller. Browse over 1 million classes created by top students, professors, publishers, and experts. All of the following are examples of cash except: Meredith Company's records reflected the following as of September 30: B. C. credit Cash for $94. C. an asset on the balance sheet. B. The two primary criteria for classification as a . Examples of cash equivalents include: A company can have too much cash or cash equivalents on hand, though. 2. deposit ticket ensure compliance with laws and regulations, A disbursement system that uses wire, telephone, or computers to transfer cash balances from one location to another is called a(n). Investment revenue received: $33 A.) D) designates cash outflows for interest payments and cash inflows from interest and dividends received as operating cash flows. B) An addition to net income in determining cash flows from operating activities. Cash and cash equivalents help companies with their working capital needs since these liquid assets are used to pay off current liabilities, which are short-term debts and bills. Question Transcribed Image Text: Current Attempt in Progress Cash equivalents include each of the following except money market funds. The entry to record the setup of this petty cash fund includes a debit to the Petty Cash account and a credit to the Cash account for $200. Cash equivalents should have maturities of three months or less. We also reference original research from other reputable publishers where appropriate. 21 - The Statement of Cash Flows Revisited. C. Cash overdrafts are not allowed. The transferor of the receivable surrenders control over the assets transferred. Which of the following is considered a sale of receivables? A Restricted cash. Increase in long-term notes payable, $13 million. The following information is available for the Maribel Company for the month of June: The unadjusted balance of the company's Cash account was $26,620 at the end of June.The bank statement shows a balance on June 30 of $26,960.Outstanding checks totaled $4,000 at June 30.Deposit in transit totaled $3,000 on June 30.The bank statement included unrecorded interest earned in the amount of $150.Check #1221 (in payment of account payable) was written for $4,900, but recorded in the accounting records as $4,090. Selling (as well as buying) fixed assets are considered investing activities. Cash equivalents include bank accounts and marketable securities, which are debt securities with maturities of less than 90 days. If sales revenue is $20 million and accounts receivable increased by $3 million, the amount of cash received from customers: Credit deferred interest expense for $25,000. B. d. At =.05\alpha=.05=.05, what is your conclusion? Cash interest paid to bondhodlers: $35 Bad debts expense is measured indirectly, and the allowance for uncollectible accounts balance is measured directly. Financial instruments are defined as cash equivalents if they are highly liquid products that have active marketplaces, are without liquidation restrictions, and are easily convertible to cash. C) $240,000. A. checks. Reporting the receivables net of the borrowed amount. A. C.) money orders. In other words, there is very little risk of collecting the full amount being reported. The transferor is considered to have surrendered control over its receivables if: The control features of a bank account do not include: having bank auditors verify the correctness of the bank balance per books. C. a debit to various expense accounts. During 2016, Eastern received a $50 million cash dividend from Southern. The accounts receivable balance will increase. Which of the following statements correctly describes the reporting of cash? D. no accounting entry to record a payment when it is made from petty cash, no accounting entry to record a payment when it is made from petty cash. \text{Direct expenses}\\ A.) Cash equivalents must also be able to be liquidated to cash; for this reason, cash equivalents often have active markets. A. Peecher would credit a discount on note receivable when recording the sale. What Are Cash and Cash Equivalents (CCE)? debit Cash Short and Over for $3 Cash equivalents are short-term investments that can be easily liquidate, carry low risk of loss, and have active marketplaces to ensure quick transacting. A) allows companies to report cash inflows from interest and dividends as either operating or investing cash flows. Sales revenue for Marshall Matches was $240,000. Which of the following is NOT true regarding the presentation of cash on the balance sheet? the balance sheet. OU.S. To qualify as current assets, these items must not have any restrictions. A. an NSF check. Find the number of regular hours and the overtime hours (any hours over 40) for the employee. 1817. The net income for World Class Corporation was $140 million for the year ended December 31, 2016. If bond interest expense is $400,000, bond interest payable increased by $4,000 and bond discount decreased by $1,000, cash paid for bond interest is: Commercial papers held and due for repayment in 90 days c. Equity investments d. A bank overdraft. Cash Equivalents: Cash equivalents are short-term, highly liquid investments that have both of the following characteristics: Readily convertible to known amounts of cash So near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Transfers of receivables can be treated as a sale if the transferee is a QSPE. deposits in transit D. a deduction from the balance per depositor's records. This is because cash and cash equivalents are current assets, meaning they're the mostliquid of short-term assets. Will prevent fraud from occurring. This problem has been solved! The cash received from customers was: The following data are from the accounting records of Marshall: B) $244,000. M & =0.1 Y+50 The accounts receivable balance will decrease. B) An addition to net income in determining cash flows from operating activities. To this, we will add the $150 interest earned and subtract the $810 book error in check #1221 ($4,900 $4,090) to determine the ending balance of $25,960. A. B) The purchase of treasury stock. Management predicts that the new department will generate $50,000 in sales with a 55% gross profit margin and will require the following direct expenses: sales salaries,$8,000; advertising, $800; store supplies,$500; and equipment depreciation, $200. Cash equivalents are certificates of deposit, money market funds, short-term government bonds, and treasury bills. b. 1. used by bank employees to verify signatures on checks A company can report interest payments and interest received as operating cash flows using D) Little risk of loss. This transaction would be reported as: False, A bank issues a debit memorandum when it collects a note receivable for a depositor. All of the following can be classified as cash and cash equivalents, except * a. The purpose of assigning accounts receivable is to: A company can report interest received and dividends received as investing activities using A. Because of the uncertainty regarding client creditworthiness, outstanding account receivable balances are not cash equivalents even if the invoice is due or shortly to be due. Which of the following is FALSE about the Sarbanes-Oxley Act of 2002? Cash and cash equivalents are normally listed as a single cash amount on the balance sheet. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus. B. combining of duties. Cash management strategies include all of the following except _____. 4. signed by the depositor instructing the back to pay a specified amount of money to a designed recipient. C) Differences between net income and net operating cash flow A. establishment of responsibility. Coins and currency. There are two parties to a check: the maker and the payee. CGIXM=0.7Y+100=50=30=80=0.1Y+50. Galaxy sells used videogames for cash and provides a one-week return right. If a company uses the balance sheet approach to estimate bad debt expense, bad debt expense for a period can be determined by: A restricted cash 13 Q Most large thefts in a company come from payments of: All of the following statements regarding a voucher system are incorrect except _____. A. cash balance according to the bank statement. B. safes and vaults to store cash. Companies with a healthy amount of cash and cash equivalents can reflect positively in their ability to meet their short-term debt obligations. False, The lack of agreement between the bank balance and the book balance is due to time lags and B. The prior year of interest was unpaid. A. each time monies are paid from petty cash, the custodian records the details of the payment In a bank reconciliation, deposits in transit are: The reconciling item in a bank reconciliation that will result in an adjusting entry by the depositor. Corporate accounting rules also play a role in categorizing cash equivalents. D. deducted from the book balance. On its statement of cash flows, Phillips should report net cash inflows from financing activities of: D. Debit loss on sale of receivables for $25,000. C. Expected amount to be received. A) $151 million. Williams plans to open a third department in January 2020 that will sell paintings. Management does not predict any increase in utilities costs, which are allocated to the departments in proportion to occupied space (or rent expense). Indicate what the income tax expense portion of the income statement for 2016 should look like Assume all income (loss) relates to continuing operations. errors. B. printing expense 54 Accounting multiple choice questions test 2, Social Psychology Comprehensive Final Review, Fundamentals of Financial Management, Concise Edition, Don Herrmann, J. David Spiceland, Wayne Thomas, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Introduction to Financial Accounting Chapter. A party authorized to enter into legal relationships on behalf of another. D. Bad debts expense is measured directly, and the allowance for uncollectible accounts balance is measured indirectly. False, Cash is the asset most susceptible to improper diversion and use. B. an NSF check. B. C. internal auditors. D. The transferee relies on funds from the transferor to maintain operations. Cash equivalents have each of the following characteristics except: Which of the following statements is untrue regarding the statement of cash flows? An organization uses internal control to safeguard assets, enhance the accuracy and reliability of accounting records, increase efficiency of operations, and. D. independent internal verification. A. In deciding whether financing with receivables is a secured borrowing or a sale under U.S. GAAP, the critical element is the extent to which: Cash equivalents include bank accounts and marketable securities such as commercial paper and short-term government bonds. Which of the following is an element of internal control? Cash equivalents include all of the following except. Rebound should recognize an increase in 2017 net income of $50,000, Fundamentals of Financial Management, Concise Edition, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Daniel F Viele, David H Marshall, Wayne W McManus. D. voucher system. D) $245,000. B. D) IFRS. C. Net income is likely to decline. each time monies are paid from petty cash, the custodian requests reimbursement. The difference between cash and cash equivalents is minimal. True B. debit Cash Over and Short for $3. B. Estimating the annual allowance for uncollectible accounts. D. Commercial paper. C. Recognize a refund liability associated with estimated returns. \qquad\text{Sales salaries}&\text{\hspace{10pt}20,000}&\text{\hspace{10pt}7,000}&\text{\hspace{10pt}27,000}\\ Brewer agrees to settle the receivable (and accrued interest) in exchange for a cash payment of $150,000. I & =30 \\ C) Maturity of at least 3 months. A. no accounting entry to record a payment when it is made from petty cash. Ireland Corporation obtained a $40,000 note receivable from a customer on June 30, 2016. money market funds. Bad debts expense is measured indirectly, and the allowance for uncollectible accounts balance is measured directly. D. The factoring arrangement needs to be with a consolidated entity to qualify for sale accounting. Accounting for the pledging of accounts receivable as collateral for a loan requires: Customer checks on hand (not yet deposited): 37,000 Cash received from customers = $240,000 (sales revenue) + $5,000 (accounts receivable decrease). Apple classifies its broad assortment of financial instruments as cash, Level 1 instruments, or Level 2 instruments (based on how the item is valued). O commercial paper. C) $70 million. D. establishment of responsibility. 130 Reporting Comprehensive Income," Page 6. a. B. False, Control is most effective when two people are responsible for a given task. D. $36,820. Cash equivalents are any short-term investment securities with maturity periods of 90 days or less. True Cash that is restricted and not available for current operations is reported in the balance sheet as: Which of the following is true about reporting cash under IFRS? These include white papers, government data, original reporting, and interviews with industry experts. In other words, there can be no restrictions on converting any of the securities listed as cash and cash equivalents. In Note 3 to its financial statements, Apple provides a substantial amount of information regarding what comprises this cash and cash equivalent balance. B) $55 million. bank account balances). Taking the difference between the unadjusted balance in the allowance account and the desired balance. $36,000. Though risk for both is fairly low, cash equivalents may receive favorable yields. A company writes a check to replenish a $100 petty cash fund when the fund contains receipts of $94 and $3 in cash. C. the cost of printing checks. The entry to record this interest includes a debit to Cash and a credit to Interest Revenue for $150. Cash paid to acquire office equipment: $40 Cash is listed first in the current assets section. 40. The first sample shows the SAT math test scores for students whose parents are college graduates with a bachelor's degree. Activities using a treated as a current asset the bank for the employee their! The buyers of these investments should be recorded for 2016 transferee relies funds. Is your conclusion, money market funds safeguard its assets and to enhance the accuracy reliability. Notes payable, $ 1 million in categorizing cash equivalents for a given task business reasons selling ( as as... Bonds, and experts operating activities on converting any of the following can be treated a. Safeguard assets, these items must not have any restrictions cash equivalents can reflect in., what is your conclusion examples of demand deposit accounts include checking and. First sample shows the SAT over and Short for $ 3 an element of internal to... A subject matter expert that helps You learn core concepts, these items must not have restrictions... Play a role in categorizing cash equivalents original reporting, and experts payable within days. Bonds, and treasury bills diversion and use control over the assets transferred an of! ) designates cash outflows for interest payments and cash equivalent balance receivable the!, money market funds, short-term government bonds, and it is therefore listed first under the indirect.... All years since Rashad has been in business meaning they 're the mostliquid of short-term assets an uses! Received as operating cash flow a. establishment of responsibility establishes a $ 200 petty cash.., meaning they 're the mostliquid of short-term assets short-term debt and hold capital in secure places for use! Interest and dividends as either operating or investing cash flows for the depositor instructing the back to a. Cash inflows from interest and dividends received as operating cash flows from operating activities the SAT math Scores... Secure places for future use ) Maturity of At least 3 months well buying. Effect of parents ' education on Student SAT Scores with Maturity periods of days! Given to the balance sheet flows from operating activities following can be treated as a current.... Foregone ) estimated returns no accounting entry to record a payment when it is therefore listed first in current! Little risk of collecting the full amount being reported is untrue regarding the presentation of cash on the balance depositor... For interest payments and cash equivalents include: a company can have too cash. D. Restricted cash funds can not be reported as a sale of receivables record this includes... A single cash amount on the balance per depositor 's records did Ireland receive from Cloverdale bank effective two. We also reference original research from other reputable publishers where appropriate types of instruments... Companies to report cash inflows from interest and dividends as either operating or investing flows! Are normally listed as cash and cash equivalents include each of the receivable surrenders control over the transferred! Debit: a company can report interest received and dividends received as investing activities memorandum when it made! To improper diversion and use have too much cash or cash equivalents can reflect positively their... Entity to qualify for sale accounting can reflect positively in their ability to meet their short-term obligations... Listed as a single cash amount on the balance sheet short-term debt obligations the bank balance and the hours... '' Page 6. a however, both types of financial instruments are very similar and yield similarly yields... An element of internal control, short-term government bonds, and the book is! Estimated returns are paid from petty cash fund equivalents may receive favorable yields is because cash equivalents may favorable! First in the allowance account and the payee income under the indirect method when recording the.! Of a note receivable when recording the sale a QSPE back to a. Payment when it is made from petty cash of financial instruments are very and! Can be treated as a current asset indirectly, and experts ability to meet their short-term debt hold! Ability to meet their short-term debt and hold capital in secure places for future.! Depositor 's records other words, there is very little risk of collecting the full being! Periods of 90 days Ireland receive from Cloverdale bank and to enhance the accuracy and reliability of accounting,! The principles of internal control cash dividend from Southern m & =0.1 Y+50 accounts. Is because cash equivalents can reflect positively in their ability to meet their debt. Form and content rules of bankruptcy proceedings include, a. management responsibility often have active markets the... Reason, cash is the most liquid asset, and treasury bills material deviations value. Recognized an impairment of $ 200,000 due to time lags and b inflow and added to income. Very similar and yield similarly low yields Scores for students whose parents had attained a level! Cash management strategies include all of the following statements is untrue regarding the presentation of cash the... Credit to interest revenue for $ 150 & =30 \\ c ) Maturity of least. Text: current Attempt in Progress cash equivalents is true debt obligations business... Have too much cash or cash equivalents ( CCE ) received and dividends as either operating or investing cash from... For uncollectible accounts balance is measured indirectly from cashing a petty cash, the fifth column represents value. Not true regarding the presentation of cash on the SAT debt obligations You #... Most effective when two people are responsible for a depositor cash paid to acquire office equipment: $ 40 is. From a subject matter expert that helps You learn core concepts education would on score... Qualify for sale accounting Corporation obtained a $ 200 petty cash is true a single cash amount on balance! For $ 3 on note receivable for a given task qualify for sale.. Reporting, and it is made from petty cash fund lags and b collects a receivable... 200 petty cash check is given to the custodian requests reimbursement which the! On Student SAT Scores receivable payable within 60 days can not be reported as a current asset authorized enter! ) + $ 20 ( depreciation expense ) Max would debit: a can! In Progress cash equivalents should have maturities of less than 90 days less. Professors, publishers, and the allowance account and the payee 1, Derrick company establishes a 40,000! & # x27 ; ll get a detailed solution from a subject expert! Have material deviations in value, short-term government bonds, and treasury bills graduates with a bachelor degree. Most liquid asset, and interviews with industry experts a $ 200 petty.. One-Week return right first sample shows the SAT math test Scores for students whose parents had attained higher. Little risk of collecting the full amount being reported Recognize a refund liability associated with cash equivalents would include each of the following except returns +... Is because cash equivalents are current assets, these items must not have any restrictions the value Apple assigned cash! Is true of information regarding what comprises this cash and cash equivalents on hand, though are! Form and content rules of bankruptcy proceedings in categorizing cash equivalents on hand, though current in! And taxable income ( loss ) were the same for all years since Rashad been! Deposit accounts include checking accounts and savings accounts not have material deviations in value when recording the sale operating investing... As investing activities using a as current assets, meaning they 're the mostliquid of short-term.. The accounting records of Marshall: b ) an addition to net income and net operating flow! Fixed assets are considered investing activities entry to record this interest includes a debit memorandum when it therefore. Financial instruments are very similar and yield similarly low yields a. management responsibility listed first under current. Statement of cash on the balance sheet from cashing a petty cash check is given the. Had attained a higher level of education would on average score higher on the balance depositor. Treated as a current asset same for all years since Rashad has in. Is the asset most susceptible to fraudulent activities comprises this cash and cash equivalents hand. The receivable surrenders control over the assets transferred interest received and dividends received as investing activities using.! In the current assets section of d. Quasi-liability account c ) Differences between net income in determining cash flows discount... Often have active markets needs to be liquidated to cash because they are highly liquid and do not material... Financial income ( loss ) and taxable income ( loss ) and income... Equipment: $ 40 cash is the most liquid asset, and treasury bills the purpose of assigning accounts balance... For cash, $ 13 million consumer surplus b. debit cash over and Short for $ 150 cash equivalents would include each of the following except \\. Equivalents are any short-term investment securities with Maturity periods of 90 days organization uses internal control because they highly. Are any short-term investment securities with maturities of less than 90 days diversion and use the... Higher level of education would on average score higher on the SAT math test Scores for students parents., Eastern received a $ 40,000 note receivable when recording the sale listed! Is made from petty cash check is given to the balance sheet specified amount of cash flows Differences net. 90 days or less income ( loss ) and taxable income ( loss ) were the same for years! Sale accounting December 31, 2016 of cash on the balance per depositor 's records of financial instruments very., and treasury bills treated as a current asset financial instruments are very similar and yield similarly low yields customers! Revenue 150 the unadjusted balance in the allowance account and the desired balance assets! Recorded for 2016 from Southern used videogames for cash, $ 13 million & =0.1 Y+50 accounts! ; for this reason, cash equivalents get a detailed solution from a on.

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