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bogdanovich [222]
2 years ago
5

Alvin Electronics is in the process of reconciling its bank account for the month of November. The following information is avai

lable: Balance per bank statement $ 8,325 Outstanding checks 2,400 Deposits outstanding 1,215 Bank service charges for November 35 Check written by Alvin for $300 but recorded incorrectly by Alvin as a $30 disbursement. What should be the corrected cash balance at the end of November
Business
1 answer:
zhannawk [14.2K]2 years ago
8 0

Answer:

The correct answer is $7,140.

Explanation:

According to the scenario, the computation for the given data are as follows:

Balance per bank statement = $8,325

Outstanding checks = $2,400

Deposits outstanding = $1,215

So, we can calculate the corrected cash balance by using following formula:

Corrected cash balance = Balance per bank statement - Outstanding checks + Deposits outstanding

= $8325 - $2,400 + $1,215

= $7,140

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The net short term capital loss for Elliott for 2021 will be $(2100); and the net long term capital gain will be $9,300.

<h3>What is capital gain?</h3>

The gain or positive returns made on the investment or engagement of money during a particular period is known as a capital gain. A short term capital gain is derived within 1 year; and long term is more than a year.

Hence, the capital gains and losses made by Elliott are aforementioned.

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4 0
2 years ago
The comparative balance sheets for Pina Colada Corp. show these changes in noncash current asset accounts: accounts receivable d
Verdich [7]

Answer:

Cash Flow from Operating Activities

Net Income                                                  $226,500

Decrease in Accounts Receivable             $78,500

Increase in Prepaid Expenses                   -$28,200

Increase in Inventories                               -$41,700

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4 0
2 years ago
According to naoroji, what benefits has india received as a result of british rule? check all that apply. understanding of india
Zarrin [17]
The two correct options are:
peace, stability, and order.
new technologies and infrastructure. 

4 0
2 years ago
Read 2 more answers
You want to retire exactly 35 years from today with $2,020,000 in your retirement account. If you think you can earn an interest
kompoz [17]

Answer:

Monthly deposit= $485.93

Explanation:

Giving the following information:

You want to retire exactly 35 years from today with $2,020,000 in your retirement account.

interest rate= 10.35 percent compounded monthly

First, we need to calculate the monthly interest rate.

Monthly interest rate= 0.1035/12= 0.008625

Now, using the following formula we can calculate the monthly deposit:

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit

Isolating A:

A= (FV*i)/{[(1+i)^n]-1}

n= 35*12= 420

A= (2,020,000*0.008625) / [(1.008625^420)-1]

A= $485.93

4 0
3 years ago
What type of PMO do you think would be the best type to start with if your organization does not have a PMO
klemol [59]

Answer: Controlling PMO

Explanation:

Controlling PMO works as an auditor for the company, tis check the organization tools, processes and ensures if standard are applied in projects. They are known by their level at which they control projects, they manage the project activities and budget. Actions are taken into place when measures are not met in the processes, tools and standard.

6 0
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