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11.The following information is available for Fujita Manufacturing Company at June 30: Cash in bank account Inventory of postage stamps $6,555 $75 Bank account
11.The following information is available for Fujita Manufacturing Company at June 30: Cash in bank account Inventory of postage stamps $6,555 $75 Bank account balance $12,500 Petty cash balance $360 NSF checks from customers returned by bank $877 Accounts payable $416 Cash in register $357 A certificate of deposit maturing in five years $ 8,100 Based on this information, Fujita Manufacturing Company should report Cash and Cash Equivalents on June 30 of: A. $20,367 B. $20,292 C. $19,415 D. $15.372 E. $19,772 12. Natural resources are: A. Assets that are physically consumed when used such as standing timber, mineral deposits, and oil and gas fields. B. Tangible assets used in the operations of the business. C. Current liabilities because they are depleted. D. Not subject to allocation to expense over their useful lives. E. Depleted using a straight-line method. 13. A company had the following accounts and amounts on December 31. Using this information, compute total assets for the company. Cash $ 17,400 Total equity 34,200 Accounts receivable 15,900 Services revenue38,400 Equipment 21,900 Rent expense 8,400 Accounts payable 11,400 Wages expense 20,400 A. $33,300. B. $55,200. C. $37,800. D. $39,300. E. $58,800.
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