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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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"During this period, employees had more input into management decisions and how they performed their jobs. The use of groups and
Lyrx [107]

Answer: The 1990s

Explanation:

The aim of human relations is to enable the creation of a win-win scenario such that employee needs can be satisfied and organizational objectives can also be achievable.

In the 1990s, employees had more input into management decisions and how they performed their jobs. Also, the use of groups and teams also became popular.

8 0
3 years ago
NEED HELP AS SOON AS POSSIBLE
Alexeev081 [22]

Answer:it is 10,000

Explanation:

3 0
3 years ago
Read 2 more answers
Yellow Co. spent $12,000,000 during the current year developing its new software package. Of this amount, $4,000,000 was spent b
earnstyle [38]

Answer:

devopment expense                                   4,000,000

software package depreicaiton expense 2,000,000

training employees expense                     <u>      50,000</u>

Total expenses                                            6,050,000

Explanation:

the cost before the knowledge of future benefit will come for the development of the software  is treated as expense. The reasoning behind this is the potential uncertainty about the furture at this time. The company didn't know about the likelihood of future benefits.

The toher 8,000,000 million will be amortize over a 4-year period:

8,000,000 / 4 = 2,000,000 depreciation expense

The training wil be considered expense for the period.

4 0
4 years ago
You are planning to save for retirement over the next 30 years. To do this, you will invest $750 per month in a stock account an
Alex

Answer:

The withdrawals will be of  $ 11,379.014 per month

Explanation:

Future value of the annuities:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\

C         750.00

time 360(30 years x 12 monhs per year)

rate 0.008333333 (10% / 12 months)

750 \times \frac{1-(1+0.00833)^{-360} }{0.008333} = PV\\

PV $1,695,365.9436

C \times \frac{(1+r)^{time} -1}{rate} = PV\\

C         250.00

time 360 (30 years x 12 monhs per year)

rate             0.005 (6% / 12 months)

250 \times \frac{(1+0.005)^{360} -1}{0.005} = PV\\

PV $251,128.7606

Total 1,695,365.84 + 251,128.76 = 1.946.494,6‬

and from here we withdraw for 25 years:

PV \div \frac{1-(1+r)^{-time} }{rate} = C\\

PV 1,946,495

time 300 (25 years x 12 months)

rate 0.004166667 (5% / 12 months)

1946494.6 \div \frac{1-(1+0.004167)^{-300} }{0.004167} = C\\

C  $ 11,379.014

6 0
3 years ago
What is the benefit of employing an ethics officer?
Lyrx [107]

Answer:

A. This professional serves as a law-enforcement officer, with the authority to arrest employees who do not abide by the ethics code.

Explanation:

3 0
3 years ago
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