Question and answer
Quirk Company has the following cash balances: Cash in Bank $15,742, Payroll Bank Account $6,000, and Plant Expansion Fund Cash $25,000. Explain how each balance should be reported on the balance sheet.
Question
Asked 6/10/2013 5:04:38 AM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
g
Get an answer
Original conversation
User: Quirk Company has the following cash balances: Cash in Bank $15,742, Payroll Bank Account $6,000, and Plant Expansion Fund Cash $25,000. Explain how each balance should be reported on the balance sheet.

Weegy: Current Assets Cash & Cash Equivalents - 21,742 Non-Current Assets Investment (Plant Expension Fund) 25,000 Since the cash in the Plant Expansion Fund is restricted for a specific purpose reduces its liquidity and must be classified as a [ non-current asset, usually as an long term investment. ]
Expert answered|selymi|Points 10616|

User: The principle of an efficient accounting system that states that an accounting system should accommodate a variety of users is

Weegy: The principle of an efficient accounting system that states that an accounting system should accommodate a variety of users is flexibility.
Expert answered|selymi|Points 10616|

User: To be useful, the information outputs of a system should be

Weegy: To be useful, the information outputs of a system should be relevant, reliable, timely, and accurate.
Expert answered|selymi|Points 10616|

User: Which of the following is a true statement about manual and electronic accounting systems? Few small companies begin with manual systems. The design and structure of manual and electronic systems are essentially the same. Many companies convert from electronic to manual systems. The design and structure of manual and electronic systems are fundamentally different.

Question
Asked 6/10/2013 5:04:38 AM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
31,993,408
questions answered
Popular Conversations
GET
Answers.
GET THE APP.
weegy*
*
Get answers from Weegy and a team of really smart live experts.
S
L
Points 681 [Total 3678] Ratings 2 Comments 661 Invitations 0 Offline
S
L
P
L
P
Points 600 [Total 6623] Ratings 1 Comments 590 Invitations 0 Offline
S
L
P
R
P
R
L
P
P
C
R
P
R
L
P
R
Points 496 [Total 12587] Ratings 1 Comments 346 Invitations 14 Online
S
L
P
1
Points 401 [Total 3257] Ratings 2 Comments 381 Invitations 0 Online
S
L
Points 377 [Total 1870] Ratings 1 Comments 367 Invitations 0 Online
S
L
Points 251 [Total 4635] Ratings 1 Comments 241 Invitations 0 Offline
S
L
Points 214 [Total 214] Ratings 2 Comments 194 Invitations 0 Offline
S
L
1
Points 145 [Total 3456] Ratings 2 Comments 125 Invitations 0 Offline
S
L
Points 111 [Total 262] Ratings 2 Comments 91 Invitations 0 Offline
S
L
Points 71 [Total 230] Ratings 0 Comments 71 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.