Answer:
B.
Explanation:
You do not need collateral to be given an unsecured loan.
Answer:
The amount should the bank report = $ 21725
Explanation:
Entries:
3.Dr accounts payable 23375
Cr Bank 23375
4. Dr Bank 7500
Cr Account receivable 7500
5. Dr Bank 900
Cr Accounts payable 900
(Error in check)
6. Dr Bank charges 45
Cr Bank 45.
(To record bank charges)
Creative Design co
Bank Reconciliation statement
$
Balance as per bank statement as Aug -20Y6 = 37600
<u>Adjustment:</u>
Add: Deposit in transit = 7500
Less: Outstanding checks = (<u>23375</u>)
Adjusted balance <u>21725</u>.
Balance as per Cash book = 20870
Less : Bank charges = (45)
Add: Error in check = <u>900</u>
Adjusted Balance <u>21725</u>
Answer: $42,000
Explanation:
The Net investment required is the total amount that a company needs to initiate a project or acquire an asset.
Net investment at time 0 = Cost of machine + increase in net operating capital
= 40,000 + 2,000
= $42,000
Answer:
The correct answer is A
Explanation:
Short term restrictive financing policy is the policy which is entails the low ratio of the current assets to the sales. This policy is grounded on the liabilities which are short term in nature.
In order to maintain the low ratio of the current assets to the sales, one needs to purchase or bought the inventory
A savings account is an account held at a bank or another financial institution. This account could be seen online and is used to store money and earn interest on that money.
A savings account saves your money.
A current account is a bank account that keeps your money safe and secure, it helps manage finances and is easy to make payments with. With a current account you can have deposits, withdrawals, etc. In an current account an amount can be deposited and withdrawn at any time without any notice needed.
