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kodGreya [7K]
3 years ago
12

Jamison Company developed the following reconciling information in preparing its June bank reconciliation: Cash balance per bank

, 6/30 $13,000 Note receivable collected by bank 4,000 Outstanding checks 7,000 Deposits-in-transit 2,500 Bank service charge 35 NSF check 1,900 Using the above information, determine the cash balance per books (before adjustments) for the Jamison Company. a. $8,065 b. $10,565 c. $15,065 d. $6,435
Business
1 answer:
Alex787 [66]3 years ago
3 0

Answer:

c. $15,065

Explanation:

In bank reconciliation the book balance is adjusted using some adjustments made by the the bank and still pending by the business. We make an adjusted balance of cash book balance and bank statement balance to reconcile the amounts.

Cash balance per book 6/30    $13,000

+ Note receivable                      $4,000

- Bank charges                          $35

- NSF check                               <u>$1,900  </u>

Adjusted Cash book balance   <u>$15,065</u>

Note receivable is received in the bank but not been recorded by the business. It will be added to the balance because it will increase the balance.

Bank charges are deducted by the bank but not been recorded by the business it will be deducted.

NSF check have already added by the balance but its not been cleared. So it needs to be deducted form the Book balance.

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Industry value chains Multiple choice question. generally have little effect on the company's cost competitiveness and customer
uysha [10]

Answer:

include both suppliers and forward channel partners.

Explanation:

An industry value chain can be defined as a physical representation of all of the activities and processes undertaken by a company or business firm for the manufacturing of goods and services, especially starting with the purchase of raw materials, manufacturing of finished goods and then ending with the delivery of the finished goods (products) to the market and consumers through a supply chain.

This ultimately implies that, industry value chains include both suppliers and forward channel partners.

In conclusion, an industry value chain should comprise of the margins of suppliers, value-creating activities and processes, costs, and forward channel partners.

6 0
3 years ago
When preparing the operating activities section of the statement of cash flows using the indirect method, a decrease in accounts
PSYCHO15rus [73]

Answer:

True

Explanation:

statement of cash flows can be regarded as financial statement which gives analysis of how cash as well as cash equivalent is affected by any changes in balance sheet accounts.

The indirect method of statement of cash flows begins with loss or the net income as well as the substraction of values from non cash revenue which result in case flow as a result of operating activities.

7 0
3 years ago
If a good is normal, then an increase in income will result in a(n) a. increase in the demand for the good. b. decrease in the d
andrew11 [14]

Answer:

a. increase in the demand for the good.

Explanation:

As we know that

In the case of normal goods, there is a positive relationship between the income and the quantity demand. If the income rises, the quantity demand is also rising and vice versa

But in the case of inferior goods, it shows an inverse relationship between the income and the quantity demand. If the income rises, the quantity demand is falling and vice versa

8 0
3 years ago
How would utility costs be properly classified? Select one: A. Curvilinear B. Fixed C. Variable D. Stepped E. Mixed
ANTONII [103]

Answer: Mixed

Explanation:

Here is the complete question:

Max Machining incurs the following utilities costs at different levels of production:

0 units: $120

500 units: $2,620

1,000 units: $5,120

How would utility costs be properly classified?

A) Curvilinear

B) Variable

C) Mixed

D) Fixed

E) Stepped

The utility cost here will be classified as a mixed cost. A mixed cost is a type of cost that has both fixed and variable cost. At 0 units, $120 was already spent. This shows that this cost is a fixed cost as it doesn't have anything to do with output. It'll still be paid regardless of the number of outputs while the other cost incurred are variable cost which is dependent on the number of outputs of goods.

Based on the explanation above, the answer is mixed cost.

3 0
3 years ago
What would be the purchase price for a $5,000, 91-day T-bill paying 3% interest?
Nat2105 [25]
Well, you just need to find it using this formula :

5,000 x [100 % -  (3% x 91/365)]

= 5,000 x [ 100 % - 0.007479]

= 5,000 x 99.992521

= $ 4,962.50 >>> rounded

Hope this help
3 0
3 years ago
Read 2 more answers
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