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Juniper Company has the following items at year-end Cash in First Bank $35
Juniper Company has the following items at year-end Cash in First Bank $35.000 Petty cash 300 Short-term paper with maturity of 2 months 5,500 Postdated checks 1.400 Overdraft in First Bank (2.500) Certificate of deposit 3,000 Juniper should report cash and cash equivalents of O $35.300 None of these are correct $40.800 © $32.800 O $38.300 Question 16 3 pts Detroit Co has the following data related to an item of inventory Inventory, March 1 400 units @ $2.10 Purchase, March 7 1.400 units @ $2 20 Purchase, March 16 280 units @ $2.25 Inventory, March 31 520 units The value assigned to cost of goods sold if Detroit uses LIFO is O $1104 O $3.446 51.160 O $3,392
Expert Solution
Solutipon-15: $40800 is correct answer
Detail Working for your easy understanding
| Computaiton of Tototal Cash & Cash Equivalent | |
| Cash in Bank | $35,000.00 |
| Petty Cash | $300.00 |
| Short term Paper with Maturity of 2 Month | $5,500.00 |
| Tototal cash and cash equivalents | $40,800.00 |
Solutipon-16: $3446 is correct answer
Detail Working for your easy understanding
| Cost of Goods Sold as per LIFO | |
| 280 Unit X 2.25 | $630.00 |
| 1280UnitX 2.20 | $2,816.00 |
| Total Cost of Goods Sold as per LIFO | $3,446.00 |
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