Question 4(Multiple Choice Worth 4 points)

The following information is available for Trinkle Company for the month of June: The unadjusted balance per the bank statement

slava [35]

Answer:

$79,039

Explanation:

A Bank Reconciliation Statement is used to determine the true cash balance

<u>Bank Reconciliation Statement as as June 30 </u>

Balance as per Bank Statement $81,500

Add Outstanding Lodgments $3,150

Less Unpresented Checks ($5,611)

Balance as per Cash Book $79,039

Therefore, the true cash balance as of June 30 is $79,039

3 0

3 years ago

Johnson Co. has 1,000,000 euros as payables due in 30 days, and is certain that the euro is going to appreciate substantially ov

SCORPION-xisa [38]

Based on the fact that the Euro will appreciate, the best thing for Johnson Co. to do is to e.purchase euros forward.

<h3>What should Johnson Co. do?</h3>

The fact that the Euro is going to appreciate in value means that Johnson Co. will have to pay more in future.

They should therefore lock in a favorable Euro rate now by purchasing Euros at a forward rate.

Find out more on purchasing forward at brainly.com/question/14090802.

#SPJ12

5 0

3 years ago

Quizlet Inter-organizational relationships are simple transactions that occur between two or more organizations. True or False

Pavlova-9 [17]

Answer:

True

Explanation:

In simple words, Relatively persistent flows of capital transfers and interactions between two or several entities are termed inter-organizational connections. These relationships are considered to be risky and often results in superior returns. It helps two firms to operate in a ritualistic partnership combined which does not force them to combine into a common company.

6 0

3 years ago

Company A has 279,000 basic shares outstanding and 26,000 outstanding options and warrants. The exercise price of these options

lesya [120]

Answer:

c. 342,000

Explanation:

Missing question and Multiple Option <em>" & if-converted methods? 305,000, 292,000, 342,000, 345,333"</em>

<em />

Proceeds expected if option are exercised = No of outstanding options and warrants * Per share exercise price

Proceeds expected if option are exercised = 26,000 * $3.75

Proceeds expected if option are exercised = $97,500

Number of treasury shares expected to be purchased = Proceeds expected if option are exercised / Average market price per share

Number of treasury shares expected to be purchased = $97,500 / $7.50

Number of treasury shares expected to be purchased = $13,000

Number of new shares issued if conversion is effected = Amount of convertible bonds reported / Effective conversion price per share

Number of new shares issued if conversion is effected = $200,000 / $4

Number of new shares issued if conversion is effected = 50,000

Calculation of the Diluted Share Outstanding

Number of basic shares outstanding 279,000

Add: Number of new shares through options 26,000

Add: Number of new shares through conversion issued 50,000

Less: Number of treasury shares to be purchased <u>(13,000) </u>

Diluted Share Outstanding <u>342,000</u>

8 0

3 years ago

On November 30, the company received an invoice from the electric company for $200. The company will pay the invoice in December

harkovskaia [24]

Answer:

Utility expense Dr. $200

Accounts payable Cr. $200

(To record the entry for electric expense)

Explanation:

Given the amount of the invoice = $200

The expenses like Electricity expenses come under utility expenses so the incurred electricity expense will show that the utility expenses are debited and account payable is credited. Here the account payable is credited because the is not paid.

Thus, below is the entry as on 30th November.

Utility expense Dr. $200

Accounts payable Cr. $200

(To record the entry for electric expense)

8 0

4 years ago