ACC 422 Week 2 Exercises from the Text E7-2, E7-8, E8-5, E8-14

May 8th, 2015
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ACC 422 Week 2 Exercises from the Text E7-2, E7-8, E8-5, E8-14

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E7-21)Checking Account Balance of $925,000 should be only reported as cash. Certificate ofDeposit is a temporary investment, Deposit of Utility is Accounts Receivable for the Utilitycompany, and the Advance is Accounts Receivable.2)All of them should be reported as cash except the the bond sinking funds because they arerestricted and should be reported as non-current.3)4)All should be reported as cash except the postdated check which is receivable, restrictedcash of $100,000 because it is restricted and should be explained in a note, postage stampson hand because that is office supplies.All should be reported as cash except the nsf check because that would then be receivables.5)Checking account balance and the Cash advance of $900 should be reported as cash. Therestricted cash should be a noncurrent asset, the treasury bills are temporary investments,the cash adv

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