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Lilit [14]
3 years ago
13

If the month-end bank statement shows a balance of $148000, outstanding checks are $48000, a deposit of $17000 was in transit at

month end, and a check for $2300 was erroneously charged by the bank against the account, the correct balance in the cash account at month end is:
Business
1 answer:
kirill115 [55]3 years ago
5 0

Answer:

$119,300

Explanation:

the bank balance must be adjusted by adding the deposit in transit and the check that was charged against the account by mistake, and you must also subtract outstanding checks:

adjusted bank balance = $148,000 + $17,000 + $2,300 - $48,000 = $119,300

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Which users will be able to see account numbers if they are enabled?
slava [35]

The users which will be able to see account numbers if they are enabled in Quickbooks is:

  • All users will see the account numbers.

<h3>What is Quickbooks?</h3>

This refers to an accounting software which is used to make accounting calculations and also take invoice which helps in the tracking of expenses, etc.

With this in mind, we can see that with the Quickbooks trial balance, if the account numbers are enabled, then all the users would be able to see it <em>as it is not restricted to</em> company admins or primary admins,

Read more about accounting here:
brainly.com/question/1033546

4 0
2 years ago
Isabel, a calendar-year taxpayer, uses the cash method of accounting for her sole proprietorship. In late December she received
stepan [7]

Answer:

Paying the $20,000 in December is the clear winner. Accelerating her payment from January to December will increase the present value of the cash outflow by a few days. Thus, there is a minor present value cost associated with accelerating her payment.

Explanation:

Option 1: Pay $20,000 bill in December:

$20,000 tax deduction x 40% marginal tax rate = $8,000 in present value tax savings

After-tax cost = Pretax cost - Present Value Tax Savings

= $20,000 - $8,000 = $12,000

Option 2: Pay $20,000 bill in January:

$20,000 x 40% = $8,000

Present Value of Tax savings = $8,000 x .893 (Discount factor, 1 year, 12%) = $7, 144

After-tax cost = Pretax cost - Present value tax savings

= $20,000 - $7,144 = $12,856

6 0
3 years ago
Loaded-Up Fund charges a 12b-1 fee of 1% and maintains an expense ratio of .75%. Economy Fund charges a front-end load of 2%, bu
Rom4ik [11]

Answer:

a. The amount in Loaded-UP Fund will grow to $104.25 after 1 year, while the amount in the Economy Fund will grow to $103.64 after 1 year.

b. The amount in Loaded-UP Fund will grow to $113.30 after 3 years, while the amount in the Economy Fund will grow to $115.90 after 3 years.

c. The amount in Loaded-UP Fund will grow to $151.62 after 10 years, while the amount in the Economy Fund will grow to $171.41 after 10 years.

Explanation:

The following are the relevant formulae to use:

Amount available in Loaded-UP Fund after a certain year = Investment * (1 + Rate of return – 12b-1 fee – Expense ratio)^Number of years ……………….. (1)

Amount available in Economy Fund after a certain year = Investment * (1 – Front-end load) * (1 + Rate of return – Expense ratio)^Number of years ……………….. (2)

Assuming investment is equal to $100 and using equations (1) and (2), we have:

a. 1 year?

Amount available in Loaded-UP Fund after 3 years = $100 * (1 + 6% - 1% - 0.75%)^1 = $104.25

Amount available in Economy Fund after 3 years = $100 * (1 - 2%) * (1 + 6% - 0.25%)^1 = $103.64

Therefore, the amount in Loaded-UP Fund will grow to $104.25 after 1 year, while the amount in the Economy Fund will grow to $103.64 after 1 year.

b. 3 years?

Amount available in Loaded-UP Fund after 3 years = $100 * (1 + 6% - 1% - 0.75%)^3 = $113.30

Amount available in Economy Fund after 3 years = $100 * (1 - 2%) * (1 + 6% - 0.25%)^3 = $115.90

Therefore, the amount in Loaded-UP Fund will grow to $113.30 after 3 years, while the amount in the Economy Fund will grow to $115.90 after 3 years.

c. 10 years?

Amount available in Loaded-UP Fund after 3 years = $100 * (1 + 6% - 1% - 0.75%)^10 = $151.62

Amount available in Economy Fund after 3 years = $100 * (1 - 2%) * (1 + 6% - 0.25%)^10 = $171.41

Therefore, the amount in Loaded-UP Fund will grow to $151.62 after 10 years, while the amount in the Economy Fund will grow to $171.41 after 10 years.

7 0
3 years ago
Why would deca, an international association of marketing students, be classified as a nonprofit organization?
Amiraneli [1.4K]
<span>It functions like a business but uses the money it makes to fund the cause identified in its charter. The student organization does not make any profits on their activities and instead donates them to charity.</span>
5 0
3 years ago
The cost object of the plantwide overhead rate method is: Select one:
Oduvanchick [21]

The cost object of the plant-wide overhead rate method is "The unit of product"

Explanation:

Unit cost is the total production cost divided by the number of units manufactured. A company usually produces similar products in lots with hundreds or thousands of units per batch.

An overall overhead rate for the entire plant is a single level used only to allocate or assign all overhead production costs for a company to its output of production. Products for easier operation, such as assembly, can be allocated overhead at a level of $20 per hour of direct work.

5 0
3 years ago
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