question archive ACC 422 E7-2 EB-25 The document contains ACC 422 EXERCISE 7-2 and EXERCISE 8-25 EXERCISE 7-2 1
ACC 422 E7-2 EB-25 The document contains ACC 422 EXERCISE 7-2 and EXERCISE 8-25 EXERCISE 7-2 1
Subject:AccountingPrice: Bought3
ACC 422 E7-2 EB-25
The document contains ACC 422 EXERCISE 7-2 and EXERCISE 8-25
EXERCISE 7-2 1.Cash balance of $925,000. Just the checking account balance must be reported as cash. The certificates of deposit of $1,400,000 must be reported as a temporary investment, the cash advance to subsidiary of $980,000 must be reported as a receivable, and the utility deposit of $180 must be recognized as a receivable from the gas organization. 2.Cash balance is $584,650 computed as follows: Checking account balance
