The amount of cash that should be reported in the company's balance sheet as of May 31 is $2,975.
<h3>
What is a balance sheet?</h3>
- A balance sheet also referred to as a statement of financial position or a statement of financial condition in financial accounting, is a summary of the financial standing of a person or an organization, including a corporation, private limited company, sole proprietorship, business partnership, government agency, or not-for-profit organization.
- As of a particular date, such as the conclusion of its financial year, assets, liabilities, and ownership equity are listed. It's common to refer to a balance sheet as a "picture of a company's financial status."
- The balance sheet is the only one of the four fundamental financial statements that only apply at one particular period in a company's fiscal year.
<h3>Solution -</h3>
Deposits outstanding = $3,050 (+)
actual amount on check my Money corporation = $95 (+)
Service fees = $170 (-)
∴ 
So, the amount of cash that should be reported in the company's balance sheet as of May 31 is $2,975.
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Answer:
b. Would like to compete
d. specilize in production
Explanation:
Competition is when businesses selling similar products, in the same market, try to outsell each other through winning more customers. When businesses compete, consumers benefit through fair prices and higher quality goods. Competing businesses innovate and create products with a high utility value to attract more customers. As a result, they offer customers products and services of high quality.
A business that engages in a specialization produces fewer varieties of products. It focuses on manufacturing goods and services that it has a comparative advantage. Due to specialization, the firm and its employees become experts in producing its products of choice. Consequently, it offers goods and services that are of a higher quality than a business that does not specialize.
If he chose to, Rich can enforce the contract against Adrienne's estate. This is because, sickness or death of a promisor is not an avenue or excuse for non-performance in contracts such as this, which can easily be delegated to another person for performance.
Answer:
c. $74,450
Explanation:
The computation of the Net present value is shown below
= Present value of all yearly cash inflows after applying discount factor + salvage value - initial investment
where,
The Initial investment is $120,000
All yearly cash flows would be
= Annual net operating cash inflows × PVIFA for 6 years at 14%
= $50,000 × 3.8887
= $194,435
Refer to the PVIFA table
Now put these values to the above formula
So, the value would equal to
= $194,435 - $120,000
= $74,435 approx
