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Gekata [30.6K]
3 years ago
14

If a check correctly written and paid by the bank for $408 is incorrectly recorded on the company's books for $480, the appropri

ate treatment on the bank reconciliation would be to deduct $72 from the bank's balance. deduct $408 from the book's balance. add $72 to the bank's balance. add $72 to the book's balance.
Business
1 answer:
vodka [1.7K]3 years ago
8 0

Answer:

The correct answer is add $72 to the book's balance.

Explanation:

Bank reconciliation is a way of identifying discrepancies between the cash book balance (company's books) and the bank balance (balance per bank statement). The discrepancies can be as a result of erroneous posting, deposit in transit, outstanding checks, etc.

In the instance of the question, there was an erroneous posting in the cash book of $72 ($480 - $408). Instead of crediting cash book by $408, it was rather credited by $480 - meaning that the credit was overstated by $72. <em>To correct this erroneous posting, we have to add back $72 to the cash book balance.</em>

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Nolte Co. has 4,800,000 shares of common stock outstanding on December 31, 2012. An additional 200,000 shares are issued on Apri
12345 [234]

Answer:

5,110,000 and 5,170,000.

Explanation:

earnings per share EPS = (net income - preferred dividends) / weighted average of outstanding shares

  • 4,800,000 at the beginning of the year
  • 200,000 issued April 1 = 200,000 x 9/12 = 150,000
  • 480,000 issued September 1 = 480,000 x 4/12 = 160,000

weighted average outstanding shares = 4,800,000 + 150,00 + 160,000 = 5,110,000

diluted shares = ($6,000,000 / $1,000) x 40 x 3/12 = 60,000

diluted EPS = (net income - preferred dividends) / (weighted average of outstanding shares + diluted shares)

weighted average of outstanding shares + diluted shares = 5,110,000 + 60,000 = 5,170,000 shares

4 0
3 years ago
Compare the words spice and police.How are they alike?How are they different?
Charra [1.4K]
They’re both have ice in the words they’re both nouns
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3 0
3 years ago
Romano Corporation has three operating divisions and requires a 12% return on all investments. Selected information is presented
REY [17]

Answer:

<u>DIVISION X</u>

Revenues = $1006000

Operating income = $105600

Operating assets = $419800

Margin = (Income*100/Revenue) = $105600*100/$1006000 = 10.50%

Turnover = (Turnover/Assets) = $1006000/$419800 = 2.4 times

ROI = (income*100/assets) = 105600*100/419800 = 25.15%

Residual Income = (105600-419800*12%) = $55224

<u>DIVISION Y</u>

Revenues = $298200*1 = $298200

Operating income = $298200*14% = $41748

Operating assets = $298200

Margin = 14%

Turnover = 1 times

ROI = (income*100/assets) = $41748*100/$298200 = 14%

Residual Income = (41748-298200*12%) = $5964

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Revenues = $635083.33 * 3 = $1905250

Operating income = $104900

Operating assets = (104900-28690)*100/12 = $635083.33

Margin =  (Income*100/Revenue) = $104900*100/$1905250 = 5.51%

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3 0
3 years ago
Taylor is analyzing the effects of wage rates on the supply of laptop computers. By using the ceteris paribus assumption, Taylor
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By using the ceteris paribus assumption, Taylor is holding the

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<h3>What is ceteris paribus?</h3>

Ceteris paribus is a Latin phrase used in economics that means all other things being equal in English. It is used when studying the effect of one variable on another variable to mean that other variables that can affect the variable being studied is assumed to not change.

When Taylor is analyzing the effect of wage rates on the supply of laptop computers. By using the ceteris paribus assumption, he is assuming that other factors that would affect the supply of laptops are assumed to be constant.

The other factors that might affect the  supply of laptop computers include:

  • cost of production
  • retail price of laptops

Here is the complete question:

Taylor is analyzing the effects of wage rates on the supply of laptop computers. By using the ceteris paribus assumption, Taylor is __________.

Select the two correct answers below.

Select all that apply:

holding the supply of laptop computers constant

holding all costs of production other than the wage rate constant

holding wage rates constant

not considering retail price of laptop computers

To learn more about ceteris paribus, please check: brainly.com/question/13864080

#SPJ1

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What type of control focuses on measuring a company’s products territories, customer groups, segments, trade channels, and order
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