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Viktor [21]
3 years ago
13

On May 31, Money Corporation's Cash account showed a balance of $16,000 before the bank reconciliation was prepared. After exami

ning the May bank statement and items included with it, the company's accountant found the following items: Checks outstanding$2,950 Deposits outstanding $2,500 NSF check $240 Service Charges $80 Error: Money Corp. wrote a check for $80 but recorded it incorrectly for $800. What is the amount of cash that should be reported in the company's balance sheet as of May 31?
Business
1 answer:
yaroslaw [1]3 years ago
6 0

Answer:

cash balance tobe reported in the balance sheet 16,880

Explanation:

cash account   16,000

NSF check            240

service charge      (80)

amend mistake:    720

adjusted:          16,880‬

the check oustanding and the deposits in-transit are adjustment for the bank balance. not the firm cash accounting

We must look for data which wasn't know until receive the bank statement.

Those are:

the non-sufficient funds

the service charge

and the accounting mistake

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An adviser has custody of a client's securities or funds if the adviser A) accepts prepayment of advisory fees or has discretion
fenix001 [56]

Answer:

B. Has authority to withdraw funds from a client's account for the benefit of the adviser for the payment of the quarterly advisory fees.

Explanation:

5 0
4 years ago
Five firms exist in the Liagiba industry. Their respective market shares are 35, 25, 15, 15, and 10 percent. Five firms exist in
Lady bird [3.3K]

Answer:

Liagiba industry = 2400

Haras industry = 2818

Explanation:

The HHI is calculated by squaring the market share of each firm in the industry.

Liagiba industry = 35² + 25² + 15² + 15² + 10² = 1225 + 625 +225 + 225 + 100 = 2400

Haras industry = 35² + 30² +25² + 8² + 2² = 1225 + 900 + 625 + 64 + 4 = 2818

5 0
3 years ago
When a line cook in a restaurant uses raw meat to cook a hamburger that becomes part of the restaurant's Super Burger Special, t
gulaghasi [49]

Answer:

Transformation process.

Explanation:

When a line cook in a restaurant uses raw meat to cook a hamburger that becomes part of the restaurant's Super Burger Special, the cook is taking part in a transformation process.

A transformation process can be defined as the capabilities possessed by an organization, which are then integrated into technology, internal processes, and management, for the singular purpose of converting inputs into outputs in order to meet the needs or requirements of their customers.

In this scenario, the cook uses raw meat as an input in the creation of an output, which is the restaurant's Super Burger Special.

7 0
3 years ago
What is the impact on cash flow from operations in the current year based on the change in operating assets and liabilities list
Ganezh [65]

Answer:

The impact on cash flow from operations in the current year based on the changes in operating assets and liabilities is:

a. -200

Explanation:

a) Data and Calculations:

                                Prior Year Current Year   Changes

Accounts receivable     1,725       1,825               $100

Inventories                    1,535       1,785              $250

Accounts payable         1,325       1,475              $150

b) Accounts receivable increased by $100, thereby reducing cash inflows. Inventories increased by $250, thereby reducing cash inflows. Accounts payable increased by $150, thereby increasing cash inflows. The net effect or impact is a reduction of $200 in the cash from operations.

5 0
3 years ago
A sale consists of the passing of the _______ from the seller to the buyer for a price.
Brrunno [24]

A sale consists of the passing of the<u> title of goods</u> from the seller to the buyer for a price.

A price is the amount of payment or compensation (usually non-negative) that one party gives to another party in exchange for goods or services. In some cases, the production price is given another name.

If the product is a commercial "commodity", the payment for that product may be referred to as the "price". However, if the product is a "service", the product may have other names.

For example, the following graph shows several situations The price of a commodity is affected by the cost of production, the supply of the desired item, and the demand for the product. Prices are either set by the monopoly or imposed on the company by market conditions.

learn more about Prices here. brainly.com/question/2021001

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8 0
2 years ago
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