ACC 410 Government and Not for Profit Accounting: Balance Sheet

Question:

Cash and Cash Equivalents and the Statement of Cash Flows Bedford Corp. began the year with $15,000 in cash and another $8,500 in cash equivalents. During the year, operations generated $140,000 in cash. Net cash used in investing activities during the year was $210,000, and the company raised a net amount of $180,000 from financing activities. Required: Determine the year-end balance in cash and cash equivalents.
 
Cash Equivalents Metropolis Industries invested its excess cash in the following instruments during December 2017: Certificate of deposit, due January 31, 2018 $35,000 Certificate of deposit, due June 30, 2018 95,000 Investment in City of Elm bonds, due May 1, 2019 15,000 Investment in Quantum Data stock 66,000 Money market fund 105,000 90-day Treasury bills 75,000 Treasury note, due December 1, 2018 200,000
 
Required:
Determine the amount of cash equivalents that should be combined with cash on the company’s balance sheet at December 31, 2017, and for purposes of preparing a statement of cash flows for the year ended December 31, 2017. Important instructions: These exercises are from this book Using Financial Accounting Information: The Alternative to Debits and Credits, 10th Edition.
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