Ch 7 and 8 - Text Questions Chapter 7 & 8 Exercises...

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Text Questions Chapter 7 & 8 Exercises E7-2, E7-8, Ch8 Question 13, E8-5 and E8-14 University of Phoenix ACC/422 Instructor: Steven Sanders By Scott Ward
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EXERCISE 7-2 1. Only the checking account balance should be reported as cash, which is $925,000. The certificates of deposit of would be a temporary investment, the cash advance to subsidiary is a receivable, and the utility deposit is a receivable. 2. The cash balance to be reported is $584,650. The cash in a bond sinking fund is not part of the reported cash. 3. The cash balance to be reported is $599,800. The postdated check is a receivable, the cash restricted would be described in a note indicating the type of arrangement and amount, and the postage stamps are reported as office supplies inventory. 4. The cash balance to be reported is $85,000. The NSF check would be a receivable. 5. The cash balance to be reported is $700,900. The cash restricted for future plant expansion would be a noncurrent asset, short-term treasury bills are temporary
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This note was uploaded on 03/01/2012 for the course ACC all taught by Professor All during the Spring '12 term at University of Phoenix.

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Ch 7 and 8 - Text Questions Chapter 7 & 8 Exercises...

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