Question

$52,580 receivable at the end of each period for 8 periods compounded at 12%. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Present value

$52,580 payments to be made at the end of each period for 17 periods at 10%. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Present value

$52,580 payable at the end of the seventh, eighth, ninth, and tenth periods at 12%. (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Present value

$enter the present value in dollars rounded to 0 decimal places

Presented below are a number of independent situations.

For each individual situation, determine the amount that should be reported as cash.

1. Checking account balance $933,000; certificate of deposit $1,401,100; cash advance to subsidiary of $982,250; utility deposit paid to gas company $190.

Cash balance

$

2. Checking account balance $508,200; an overdraft in special checking account at same bank as normal checking account of $18,100; cash held in a bond sinking fund $240,600; petty cash fund $370; coins and currency on hand $1,510.

Cash balance

$

3. Checking account balance $624,900; postdated check from customer $11,650; cash restricted due to maintaining compensating balance requirement of $100,100; certified check from customer $10,064; postage stamps on hand $621.

Cash balance

$

4. Checking account balance at bank $44,740; money market balance at mutual fund (has checking privileges) $46,470; NSF check received from customer $772.

Cash balance

$

5. Checking account balance $719,100; cash restricted for future plant expansion $494,100; short-term Treasury bills (which mature in 6 months) $179,810; cash advance received from customer $870 (not included in checking account balance); cash advance of $7,440 to company executive, payable on demand; refundable deposit of $25,340 paid to federal government to guarantee performance on construction contract.

Cash balance

$

Answer 1

The answer has been presented in the supporting sheet. All the parts has been solved with detailed explanation and format. For detailed answer refer to the supporting sheet.