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sesenic [268]
3 years ago
11

Rainey Company's true cash balance at October 31 is $5,710. The following information is available for the bank reconciliation:

Business
1 answer:
photoshop1234 [79]3 years ago
3 0

Answer:

$5,400

Explanation:

We are given the cash balance per books and we are told to determine the cash balance per bank. The following formula is used to calculate the cash balance per book:

cash balance per books = cash balance per bank + notes receivable collected by bank  -  bank service charge -  NSF check

$5,710 = cash balance per bank + $1,000 - $90 - $600

cash balance per bank = $5,710 + $90 + $600 - $1,000 = $5,400

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Which scenarios can be considered effects of Sole Sister Shoe Store choosing to sell dress shoes over sneakers? Select two answe
GaryK [48]

Answer:

Option 1 and 2

Explanation:

Complete Question

Which scenarios can be considered effects of Sole Sister Shoe Store choosing to sell dress shoes over sneakers?

CHECK ALL THAT APPLY.

  1. High school athletes stop shopping there.
  2. The inventory of sports socks goes unsold.
  3. Publicity for the store declines.
  4. Profits decline because dress shoes cost less than sneakers

Solution

Sole Sister Shoe Store chooses to sell dress shoes over sneakers because  the customers of sneakers stopped shopping from the store. Sneakers are mainly purchased by the high school athletes over any other footwear. Now, they stopped shopping and hence  Sole Sister Shoe Store started selling dress shoes

Also, sports socks' inventory is unsold indicating the reduction in sale of sneakers and hence the Sole Sister Shoe Store started selling dress shoes

7 0
2 years ago
You are thinking of purchasing a home. The house costs $300,000. You have $43,000 in cash that you can use as a down payment on
Anna35 [415]

Answer:

Annual payment= $3,250.77

Explanation:

Giving the following information:

You are thinking of purchasing a home. The house costs $300,000. You have $43,000 in cash that you can use as a down payment on the house, but you need to borrow the rest of the purchase price. The bank is offering a 30-year mortgage that requires annual payments and has an interest rate of 6% per year.

FV= 300,000 - 43,000= $257,000

i=6%

n= 30

Annual payment= ?

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

A= annual deposit

Isolating A:

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

A= (257,000*0.06)/{[1.06^30]-1}= $3,250.77

3 0
4 years ago
Whether exchange is between individuals, firms, or countries, voluntary trade occurs because:
larisa86 [58]

Answer:

b.both parties are made better off.

Explanation:

People voluntary to trade when they will better off after the trade. Since individual or nation has different proficiency and endowment resources, the ability to produce some product will be different for each country.

For example, German people are skillful of making beer. They have efficient production. Whereas France have expertise in making perfume. It is reasonable for German people to buy perfume from France since it is cheaper and has better quality than making it themselves. On the other hand, if french want to drink beer, it is cheaper to buy from Germany. Thus, both Germany and France will be better of after the trade.

5 0
3 years ago
Martinez Company has three cost pools and two doggie products (leashes and collars). The activity cost pool of ordering has the
nikdorinn [45]

Answer:

The cost assigned to leashes for supervising is $180,000

Explanation:

Estimated Overhead Cost Drivers Overhead Rates

$ 260,000.00          130,000         $ 2.00 Per Order

$ 400,000.00          800,000 $ 0.50 per Part

$ 300,000.00          25,000         $ 12.00 Per Hour

Labor hours for the leashes is 15,000 hours

Cost assigned to leashes for supervising = 15,000 x 12 = $180,000

3 0
3 years ago
. A company produces two products, A and B, which have profits of $9 and $7, respectively. Each unit of product must be processe
prohojiy [21]

Answer:

(a) Linear model

max\ P = 9x + 7y

Subject to:

12x + 4y \le 60

4x + 8y \le 40

x,y \ge 0

(b) Standard form:

max\ P = 9x + 7y

Subject to:

12x + 4y + s_1 = 60

4x + 8y +s_2= 40

x,y \ge 0

s_1,s_2 \ge 0

Explanation:

Given

\begin{array}{ccc}{} & {Hours/} & {Unit} & {Product} & {Line\ 1} & {Line\ 2} & {A} & {12} & {4} & {B} & {4} & {8} & {Total\ Hours} & {60} &{40}\ \end{array}

Solving (a): Formulate a linear programming model

From the question, we understand that:

A has a profit of $9 while B has $7

So, the linear model is:

max\ P = 9x + 7y

Subject to:

12x + 4y \le 60

4x + 8y \le 40

x,y \ge 0

Where:

x \to line\ 1

y \to line\ 2

Solving (b): The model in standard form:

To do this, we introduce surplus and slack variable "s"

For \le inequalities, we add surplus (add s)

Otherwise, we remove slack (minus s)

So, the standard form is:

So, the linear model is:

max\ P = 9x + 7y

Subject to:

12x + 4y + s_1 = 60

4x + 8y +s_2= 40

x,y \ge 0

s_1,s_2 \ge 0

4 0
2 years ago
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