following items would be included in cash and cash equivalents: 1. 2% investment in common shares public company.

The following items would be included in cash and cash equivalents:

1. 2% investment in common shares public company.

2. 2% investment in common shares private company.

3. 60-day investment certificates.

4. Bank overdraft.

5. Commercial paper.

Required:

Identify whether each statement is true or false.

Expert Solution

1. F – does not include investments in common shares

2. F – does not include investments in common shares

3. T - 60-day investment certificates.

4. T – it can be netted and included if with same bank

F – if with different bank and cannot be netted

5. T - Commercial paper.

Junaid answered 1 year ago

Which of the following items would not be included as a cash flow from operating activities...

Which of the following items would not be included as a cash flow from operating activities in a statement of cash flows? Multiple Choice Collections from customers. Interest on note payable. Purchase of equipment. Purchase of inventory.

A company’s shareholders’ equity section at December 31, 20x2 included the following items: Common shares, 101470...

A company’s shareholders’ equity section at December 31, 20x2 included the following items: Common shares, 101470 shares outstanding $681092 The following transactions took place during the year 20x3: February 15 Issued 19446 shares for $170295 cash July 10 Retired 35694 shares for $395937 cash Which of the following would be correct as part of the July 10, 20x3 journal entry to record the retirement of the shares? Select one: a. Debit to Common Shares for $395937 b. No entry will...

The following items were included as cash on the statement of financial position Lawton Company. How...

The following items were included as cash on the statement of financial position Lawton Company. How should each of the items have been reported? Write your answer on the space after each item. The lists of possible answers are as follows: Cash, Notes Receivable, Accounts Receivable, Advances to Employees, Office Supplies and Other Noncurrent Asset Demand deposits with bank Bank account used for payment of salaries and wages Cash in special cash account to be used currently for the construction...

1.Which of the following would not be included in an economist's definition of investment spending? a...

1.Which of the following would not be included in an economist's definition of investment spending? a the purchase of robots by Motor Magic Manufacturing b the construction of a new office building by the Mountain City Real Estate Company c the purchase of General Motors stock by Donald Trump d the purchase of a new pizza oven by H and R Pizza e an unexpected rise in inventories at Randle Manufacturing 2. A decrease in the demand for peanut butter...

On January 1, 2021, Cullumber Company, a public company, purchased 30% of the common shares of...

On January 1, 2021, Cullumber Company, a public company, purchased 30% of the common shares of Triple Titanium Inc. for $500,000. The remaining shares (70%) are held by the family members of the company’s founder. Cullumber considers this a strategic investment and a critical step into developing consumer markets. Triple Titanium is currently a supplier to Cullumber. Cullumber placed two members on the 10-person board of directors of Triple Titanium and the two members believe they have been influential on...

Grouper Corporation, a public company, reported the following balances at January 1, 2020: Common Shares (32,300...

Grouper Corporation, a public company, reported the following balances at January 1, 2020: Common Shares (32,300 shares issued, unlimited authorized) $ 807,500 Retained Earnings 1,459,000 Contributed Surplus 142,000 Accumulated Other Comprehensive Income 30,300 During the year ended December 31, 2020, the following summary transactions occurred: Net income earned during the year $ 303,000 Unrealized gain on fair value through other comprehensive income (FV-OCI) investments 30,000 Reduction of contributed surplus during the year due to repurchase of common shares 19,000 Reduction...

1. Classify each of the following items as included or not included in GDP. Give an...

1. Classify each of the following items as included or not included in GDP. Give an explanation for those that you judge as not included. State when applicable, the expenditure category in which each good is included. a. The purchase of copy paper by PepsiCo, which is used by the company staff. b. The purchase of an electronic handheld organizer by a sales manager to keep track of clients. c. The purchase of a new helicopter by the Canadian military....

Treasure Corp. is a public company and has 100,000 common shares outstanding and 15,000 cumulative $2...

Treasure Corp. is a public company and has 100,000 common shares outstanding and 15,000 cumulative $2 preferred shares outstanding. In 2020, the company reported income from continuing operations before income tax of $2,830,000. Additional transactions not considered in the $2,830,000 are as follows: 1. In 2020, Treasure Corp. sold equipment for $65,000. The machine had originally cost $60,000 and had accumulated depreciation to date of $45,000. 2. The company sold one of its subsidiaries during the current year. Assume that...

XYZ Company began operations on January 1, 2020. The company has the following items included in...

XYZ Company began operations on January 1, 2020. The company has the following items included in the owners' equity section of its balance sheet. 8% Preferred Stock, $100 par, 100,000 shares authorized, 25,000 shares issued and outstanding $2,500,000 Common Stock, $3 par, 500,000 shares authorized; 150,000 shares issued and outstanding 450,000 Additional paid-in capital 2,250,000 Total dividends declared and paid were: 2020 $170,000 2021 210,000 2022 240,000 A. Referring to the information above, if XYZ Company's preferred stock were CUMULATIVE,...

Prepare the appropriate journal entries, if required, for the following items: 1) Sold 250,000 shares common...

Prepare the appropriate journal entries, if required, for the following items: 1) Sold 250,000 shares common stock at $5 cash each, $.01 par value 2) Bought back 1,000 shares of company common stock at $6 a share to use for management incentives etc. 3) Issued 100,000 shares of preferred stock for cash, $0.10 par value, for $30 a share. 4) Company declared a 2 for 1 stock split when there were 2,000,000 shares outstanding

Question