Question

Cash that is restricted and is not available for current use may be reported in the...

Cash that is restricted and is not available for current use may be reported in the balance sheet as (Select all that apply.)

- other assets.

- investments and funds.

- a noncurrent asset.

- trading securities.

-accounts receivable.

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Restricted cash are those assets which are kept aside for specific purpose in business. The purpose could be purchases / maintenance of capital assets or repayment of loans / others liability.

It could be for long term / short term purpose . If it is for short term purposes, Classified in current assets or for long term purpose, classified in Long term assets (Non - Current assets) in balance shert and kept separate from normal cash . It appear in Balance sheet as "other assets" or "other restricted cash " named account and related purpose are notified in footnote in financial statements. This cash got restricted and can't used for other purposes.

Other assets and a non - current assets options should be selected.

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities,...
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventories. The December 31, 2021, balance sheet revealed the following: Inventories $ 750,000 Total assets $ 2,800,000 Current ratio 2.3 Acid-test ratio 1.05 What amount should be included in the noncurrent asset section of Excalibur Tire’s December 31, 2021, balance sheet?
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2018 balance sheet reported the following: cash, $1,350,000; prepaid expenses, $410,000; noncurrent assets, $2,900,000; and shareholders’ equity, $3,000,000. The current ratio at the end of the year was 2.6 and the debt to equity ratio was 1.7. Required: Determine the following 2018 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.)
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid...
The current asset section of Guardian Consultant’s balance sheet consists of cash, accounts receivable, and prepaid expenses. The 2018 balance sheet reported the following: cash, $1,440,000; prepaid expenses, $500,000; noncurrent assets, $3,800,000; and shareholders’ equity, $3,900,000. The current ratio at the end of the year was 2.0 and the debt to equity ratio was 1.4. Required: Determine the following 2018 amounts and ratios: (Round your "The acid-test ratio" answer to 1 decimal place.)
Carrie Heffernan, Inc., has the following assets at the end of the year: Petty cash fund...
Carrie Heffernan, Inc., has the following assets at the end of the year: Petty cash fund $1,000 Cash in checking account 13,000 Time deposits 12,000 Accounts Receivable 40,000 Short-Term Investments 22,000 Investments in high-grade government securities, maturing in 90 days (at time of purchase) 14,000 Cash restricted under a compensating balance agreement on a short-term loan 100,000 Prepaid Rent 20,000 Supplies 12,000 Prepare the current assets section of the balance sheet for this company.
You are working for The Wellington Company on temporary assignment while one of the accountants is...
You are working for The Wellington Company on temporary assignment while one of the accountants is on family leave. You have been asked to review the company’s investment journal entries and provide necessary information to the accountant preparing the financial statements. PAGE 8 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 Jan. 17 Investments-Red Rock Co. Stock 40,700.00 ? 2 Cash 40,700.00 ? 3 Feb. 5 Investments-Sunset Village Bonds 37,000.00 ? 4 Interest Receivable 320.00...
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities,...
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The December 31, 2021, balance sheet revealed the following: Inventory $ 1,010,000 Total assets $ 3,600,000 Current ratio 2.20 Acid-test ratio 1.20 Debt to equity ratio 1.5 Required: Determine the following 2021 balance sheet items: current assets shareholders equity long term assets long term liabilites
Current Position Analysis The following items are reported on a company's balance sheet: Cash $201,800 Marketable...
Current Position Analysis The following items are reported on a company's balance sheet: Cash $201,800 Marketable securities 157,700 Accounts receivable (net) 85,700 Inventory 185,500 Accounts payable 371,000 Determine (a) the current ratio and (b) the quick ratio. Round to one decimal place. a. Current ratio b. Quick ratio
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities,...
The current asset section of the Excalibur Tire Company’s balance sheet consists of cash, marketable securities, accounts receivable, and inventory. The December 31, 2021, balance sheet revealed the following: Inventory $ 890,000 Total assets $ 3,500,000 Current ratio 2.40 Acid-test ratio 1.40 Debt to equity ratio 1.5 Required: Determine the following 2021 balance sheet items: 1. Current Assets 2. Shareholder's Equity 3. Long-term assets 4. Long-term liabilities
XYZ Corporation reported the following selected amounts on its comparative balance sheet: Current Assets     2019     2020...
XYZ Corporation reported the following selected amounts on its comparative balance sheet: Current Assets     2019     2020 Trading Securities $9,000 $5000 Available-for-Sale Securities $28,000 $14,000 Current Liabilities Dividends Payable $35,021 $20,604 Accounts Payable $30,000 $52,000 Stockholders' Equity Common Stock ($1 par) $53,262 $148,462 Paid-in Capital in Excess of Par $150,441 $203,135 Paid-in Capital - Share Repurchase $9,555 $12,166 Retained Earnings $315,000 $400,000 Accumulated Other Comprehensive Income: Unrealized Gain on Available-for-Sale Securities $32,340 $50,605 The 2020 income statement of XYZ Corporation reports:...
A company with a complex Balance Sheet may have cash in several accounts, e.g. Petty cash...
A company with a complex Balance Sheet may have cash in several accounts, e.g. Petty cash Cash Cash Equivalents Marketable Securities (short-term investments) Investments (long-term investments) Why would a company need so many accounts for Cash? Why wouldn't they list all cash in a single account?
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT