Brief Exercise 7-1Kraft Enterprises owns the following ass

Brief Exercise 7-1Kraft Enterprises owns the following assets at December 31 2014.Cash in banksavings account68000Checking account balance17000Cash on hand9300Postdated checks750Cash refund due from IRS31400Certificates of deposit (180-day)90000 What amount should be reported as cash? Warning Don’t show me this message again for the assignment Prepare the required journal entries for Restin Co. (If no entry is required select No Entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Journalize the June transactions. (If no entry is required select No entry for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Warning Don’t show me this message again for the assignment Warning Don’t show me this message again for the assignment Warning Don’t show me this message again for the assignment Compute the April 30 inventory and the April cost of goods sold using the FIFO method. Warning Don’t show me this message again for the assignment A physical inventory on March 31 2014 shows1600units on hand. Warning Don’t show me this message again for the assignment Warning Don’t show me this message again for the assignment Warning Don’t show me this message again for the assignment Warning Don’t show me this message again for the assignment Warning Don’t show me this message again for the assignment Determine the following: (a) the two limits to market value (i.e. the ceiling and the floor) that should be used in the lower-of-cost-or-market computation for skis. (b) the cost amount that should be used in the lower-of-cost-or-market comparison of boots. (c) the market amount that should be used to value parkas on the basis of the lower-of-cost-or-market. Warning Don’t show me this message again for the assignment Cost

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