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4vir4ik [10]
3 years ago
6

Trudy inc had the following bank reconciliation at march 31 2013 all reconciling items at march 31 2013 cleared the bank in apri

l outstanding checks at april 30 2013 totaled 6000 there were no deposits in transit at april 30 2013 what is the cash balance per books at april 30 2013?
Business
1 answer:
djverab [1.8K]3 years ago
7 0

Answer:

The cash balance per books at April 31, 2013 is $28,200.

Explanation:

It is required to compute the Balance per bank on 30, April:

Balance per bank on 30 April = Balance per bank statement + Deposits - Disbursement

= $37,200 + $46,700 - $49,700

= $83,900 - $49,700

= $34,200

The Cash balance per books on April 30, 2013 is computed as:

Cash balance per books on April 30, 2013 = Balance per bank on 30 April - Cleared the outstanding checks

= $34,200 - $6,000

= $28,200.

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Seven years ago, Carlos took out a 30-year mortgage for $185,000 at 5.6 percent. He has made all of the monthly payments as agre
marin [14]

Answer:

Remaining balance of loan after 7 years ( today ) = $ 164,619.6

Explanation:

amount of mortgage = $ 185,000

original term of loan 30 years * 12 = 360 months

interest rate = 5.6 % * 1/12 =0.4666% per month

monthly payment = amount oa mortgage * i /[ 1- (1+i)^-n ]

= $ 185,000 * 0.4666% / [ 1- ( 1 +0.4666%)^-360 ]

= $ 863.21 / [ 1 - 0.187148 ]

= $ 863.21 / 0.812852

= $ 1061.95

after 7 years, that means 84 months, remaining term = 360 months - 84 months = 276 months

remaining balance of loan = amount of loan * ( 1+ i )^n - monthly payment * [ {( 1 + i )^n - 1 } / i ]

remaining balance of loan after 7 years ( 84 months ) = [ $ 185,000 * ( 1+0.4666%)^84 ] - $ 1061.95 * [ {(1+0.4666%)^84 - 1} / 0.4666 ]

= [ $ 185,000 * 1.47850 ] - $ 1061.95 * ( 0.47850 / 0.4666% ]

= $ 273,522.5 - $ 1061.95 * 102.55

= $ 273,522.5 - $ 108,902.9

= $ 164,619.6

remaining balance of loan after 7 years ( today ) = $ 164,619.6

6 0
3 years ago
Gonzalez Company has been in business for several years. At the end of the current year, the ledger shows:
Westkost [7]

Answer:

Debit : Bad Debts = $16,370

Credit : Allowance for doubtful debts = $16,370

Explanation:

The question states that bad debts are expected to be 5% of the accounts receivables. This means that it is: $327,400 x 5% = $16,370.

An account for allowance for doubtful debts is a contra account created, predicting that certain debtors will not be able to pay for the goods and services they purchased. The 5% may be based on historical experiences. Doubtful debts aren’t officially uncollectible, it is simply a prediction, but bad debts are, where you have officially written off a certain accounts receivable as uncollectible.

An allowance for doubtful debts is recorded in the balance sheet, directly under accounts receivables. Bad debts are recorded as an expense in the income statement.

The initial entry for allowance for doubtful debts is incorrect, hence it would have to be corrected before the new amount can be recorded. Correction:

Debit : Allowance for doubtful debts = $7900

Credit : Bad debts = $7900

The accounts will be cancelled off and the new entry can be recorded...

Debit : Bad Debts = $16,370

Credit : Allowance for doubtful debts = $16,370

When the amount is officially declared uncollectible, the allowance for doubtful debts account will be debited and the accounts receivables account will be credited.

6 0
3 years ago
What is the purpose of this presentation? to persuade to instruct to inform to entertain
elena-s [515]

To give the audience more information or teach them about something ENTERTAIN. Keeps the audience's attention usually in an enjoyable way INFORM. Gets the audience to believe something or do what they are saying PERSUADE.

What is the purpose of this presentation to persuade?

In a persuasive speech, the goal is to change the attitudes, beliefs, values, or judgments of your audience.

If we look back at the idea of motive, in this speech the prosecuting attorney would try to convince the jury members that the defendant is guilty beyond reasonable doubt.

When an author's purpose is to inform, they usually wish to enlighten their readership about a real-world topic. Often, they will do this by providing lots of facts.

Learn more about purpose here:

brainly.com/question/16049281

#SPJ4

6 0
2 years ago
Researchers have ridden alongside motorcycle enthusiasts to understand the relationship between riders and their beloved Harley-
MArishka [77]

Answer:

c. ethnographic

Explanation:

  • The researcher who has ridden alone side the motorcycles enthusiast to understand the relationships between the riders have studied them interms of the ethnographically as to understand the beloved relationships they share with the Harvey Davidson and understand their brand loyalty.
  • The researchers thus tried to find and created a relationship between the bike riders groups that consider them as the premium class and share their experiences of vehicle.
6 0
3 years ago
Domestic producers experience limited import competition when a VER is in place. As a result, these producers make extra profit
GuDViN [60]

Answer:

Quota rent

Explanation:

When voluntary export restraints (VER) are set up and / or import quotas are enforced, the extra profit that domestic producers make because the supply is artificially limited is called quota rent. Quota rents are a type of economic inefficiency since they produce more losses than benefits. Society as a whole generally losses while a group of favored companies make huge profits.

For example, sugar imports are limited in the US, so domestic sugar producers are able to sell sugar at much higher prices than regular international prices. That artificial extra profit earned by sugar companies in the US can be classified as quota rent.

8 0
3 years ago
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