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(answered) – 1) At the year end, Lam Company had cash of $39 800 , US Treasury


(answered) – 1) At the year end, Lam Company had cash of $39 800 , US TreasuryDescriptionSolution downloadThe Question1) At the year end, Lam Company had cash of $39 800 , US Treasury bills due 80 days of $90 000, certificates of deposit at the bank due six months of $100 000, and US Treasury bonds due on one year $50 000. Total current liabilities amounted $324 500. Given these set of facts determine the cash ratio2) A small company maintains a petty cash fund for minor expenditures. In June and July 2011, the following transaction took placea) The fund was established in the amount of $100 on June 1 from the proceeds of check No.2707b) On June 30, the petty cash fund had cash of $15.46 and the following receipts on hand: Postage expense $40, Supplies $24.94, Delivery expense $12.40, and Office expense $7.20. Check No.2778 was drawn to replenish the fundc) On July 31, the petty cash fund had cash of $22.06 and these receipts on hand: Postage expense $34.20, Supplies $32.84, and Delivery expense $6.40. The petty cash custodian could not account for shortage. Check No.2847 was drawn to replenish the fund3) On August 31 of the current year, Dumont Company’s checkbook showed a balance of $7540, and the bank statement showed a balance of $8510. A comparison of the bank statement and Dumont’s records as of August 31 revealed the following:?a) A deposit of $1900, mailed to the bank by Dumont on August 29, was not included in the bank statement of August 31b) The amouth of outstanding checks totaled $1125c) Check No.289 in payment of a liability had been written for $140 and had been recorded at that amount by the bank. However, Dumont had recorded it in the check register as $410.d) A check for $910 received from a customer was deposited in the bank.?The bank recorded it at the correct amount, ?but Dumont recorded it at $190QUESTION 1Cash ratio= cash +cash equivalents/total current liabilitiesCash equivalents should be convertible to cash within 90 days.Therefore, for this case, the only cash equivalent is US…Solution detailsSolution #0002300152(answered) – 1) At the year end, Lam Company had cash of $39 800 , US Treasury.zipUploaded by: TutorAnswer rating: ★★★★★This paper was answered on 27-Aug-2016Price: $21About this QuestionSTATUSAnsweredQUALITYApprovedDATE ANSWEREDAug 27, 2016EXPERTTutorANSWER RATINGNOTE: USING THIS SERVICE IS LEGALUsing this service is LEGAL and IS NOT prohibited by any university/college policies. We have top-notch tutors who can do your essay/homework for you at a reasonable cost and then you can simply use that essay as a template to build your own arguments.You can also use these solutions:As a reference for in-depth understanding of the subject.As a source of ideas / reasoning for your own research (if properly referenced)For editing and paraphrasing (check your institution’s definition of plagiarism and recommended paraphrase).This we believe is a better way of understanding a problem and makes use of the efficiency of time of the student.NEW ASSIGNMENT HELP?Order New Solution. Quick TurnaroundClick on the button below in order to Order for a New, Original and High-Quality Essay Solutions. New orders are original solutions and precise to your writing instruction requirements. Place a New Order using the button below.$(document).ready(function(e) { //$(document).prop(‘title’, ‘(answered) – 1) At the year end, Lam Company had cash of $39 800 , US Treasury’); });Disclaimer : Studiesgma.com does not claim copyright on questions and answers posted on the site. Uploading copyrighted material is not allowed. These materials are custom written and that should only be used for research and reference purposes only.Privacy Policy |Term and Conditions |Money Back Guarantee Policy–>TERMS OF SERVICE