Exercise 7-14 Nayak Company has recorded the following items in its financial re

Question

Exercise 7-14 Nayak Company has recorded the following items in its financial records. Cash in bank $41,000 Cash in plant expansion fund 100,000 Cash on hand 8,000 Highly liquid investments 34,000 Petty cash 500 Receivables from customers 89,000 Stock investments 61,000 The cash in bank is subject to a compensating balance of $5,000. The highly liquid investments had maturities of 3 months or less when they were purchased. The stock investments will be sold in the next 6 to 12 months. The plant expansion project will begin in 3 years. What amount should Nayak report as

Explanation / Answer

Posters rating is not 100%. Hence Pl dont answer this post as this person has been irresponsible in rating answers. So he don't deserve any solutions here. First make him rate all pending posts truthfully & also pledge that he will rate all answers within 2 days to be eligible for help from Educators & others. Till such time, just ignore all posts where rating is not 100%. This will make Cramster a better forum to contribute. Amen... Pl goto http://www.cramster.com/my_cramster/questions-and-answers/NeedRatingQuestions & rate your pending posts

Related Questions

Navigate

• Browse (All)
• Browse E
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.