Inventory and B

Topics: Inventory, Balance sheet, FIFO and LIFO accounting Pages: 17 (1808 words) Published: September 13, 2013
Accounting 350, Fall 2009Quiz, Chpts 7,8 & 9 – Night Class |1. |Kaniper Company has the following items at year-end: | | |Cash in bank | | |$20,000 | | | | | |Petty cash | | |300 | | | | | |Short-term paper with maturity of 2 months | | |5,500 | | | | | |Postdated checks | | |1,400 | | | | | |Kaniper should report cash and cash equivalents of | |A) |$20,000. | |B) |$20,300. | |C) |$25,800. | |D) |$27,200. |

|2. |Steinert Company has the following items at year-end: | | |Cash in bank | | |$30,000 | | | | | |Petty cash | | |500 | | | | | |Short-term paper with maturity of 2 months | | |8,200 | | |...
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