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amm1812
3 years ago
12

Match the items with the actions necessary to reconcile the bank statement.

Business
2 answers:
Leokris [45]3 years ago
8 0

1. interest credited in bank account -- add to personal

2. fee charged by bank for returned check -- deduct from personal

3. checks issued but not deposited -- deduct from bank

4. deposits yet to be credited -- add to bank

BlackZzzverrR [31]3 years ago
7 0

Answer:

The correct answers are:

1. interest credited in bank account -- add to personal

2. fee charged by bank for returned check -- deduct from personal

3. checks issued but not deposited -- deduct from bank

4. deposits yet to be credited -- add to bank

Explanation:

1.

As they are a credit to the holder, i.e. they add to his bank account, this item is added, i.e. it is added to him by the amount of interest credited.

2.

As the bank is an intermediary payment institution, it adds to its policies the collection of commissions for returned checks, as well as charges you commissions for account maintenance.

3.

When we issue checks and these are not deposited, it often happens that we in our accounting have a lower amount than the bank statement, therefore we have to deduct those values from the statement, as they will surely be deposited later.

4.

When a bank deposit is made this late a time to be accounted in the bank statement, therefore, until this happens we have to add it up as it is a matter of time for it to reflect

Have a nice day!

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c. 11.10%

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Options are <em>"a. 10.29% b. 10.51% c. 11.10% d. 10.72% e. 11.49%"</em>

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Total Market Value = Market Value of Equity + Market Value of Preferred Stock + Market Value of Debt

Total Market Value = $2,600,000 + $701,925 + $453,805

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kP = $7.90 / $95.50

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WACC = [(453,805/3,755,730) * 8.11% * (1 - 0.40)] + [(701,925/3,755,730) * 8.27%] + [(2,600,000/3,755,730) * 12.95%]

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Income statement data for Huffman Pharmaceuticals are provided below. Income Statements 12/31/201712/31/2016 Sales Revenue$598,0
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Answer:

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= 42%.

Explanation:

a) Data and Calculations:

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Sales Revenue                  $598,000          $724,000

Cost of Goods Sold             337,000            427,000

Gross Profit                          261,000            297,000

Operating Expenses            137,000             146,000

Operating Income               124,000              151,000

Other Income (Expense)      60,000              23,000

Income before Tax              184,000             174,000

Income Tax Expense             71,000              76,000

Net Income                         $113,000           $98,000

Income Statements           12/31/2017         12/31/2016

Sales Revenue                  $598,000          $724,000

Cost of Goods Sold             337,000            427,000

Gross Profit                          261,000            297,000

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2017 = $261,000/$598,000 * 100 = 43.65% =  44%

2016 = $297,000/$724,000 * 100 = 41%

Average Gross profit ratio for the two years = 42.5% (44 + 41)/2.

b) Huffman's trend analysis is the use of its past financial performance indices to predict its future financial performances.  Past performances are expressed in percentages, forming the basis for predicting and comparing future performances of an entity.

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