Answer:
1. $3,067
2. B) $129,127.
Explanation:
a. The computation of amount deposit in transit is shown below:
The amount of deposit in Transit = Balance as per Cash Book as on 30th Sept - Cheque outstanding realized - Bank charges - Balance as per Bank Book
= $12,596 + $6740 - $16 - $16,253
= $3,067
Deposit in Transit inflates the general ledger initially till it is credited in the bank book.
b. The computation of balance should Cardinal's Cash account show
Cash Account should show a balance = Bank Statement Balance as on May 31 - Outstanding Cheque on May 31
= $180,974 - $51,847
= $129,127
As we can see that the cash account balance is less because there is an outstanding
Answer:
The answer is false
Explanation:
Breadth, refers to the number of product lines offered by a firm
Answer:
If Mary decides to itemize her deductions, she can deduct $11,000 from her gross income (= $9,600 + $1,400).
Explanation:
For 2019, Mary can deduct mortgage interests from her first loan and the interests from her home equity loan as itemized deductions. Deductions are available for mortgage debt and other home equity loans up to $500,000 for single filers and $1,000,000 for married joint filers.
Answer:
b. a debit to Held-to-Maturity Debt Investments for $26,000
Explanation:
Investment in corporate bonds is considered as Held-to-Maturity Debt investments.
Date Accounts Title and Explanation Debit Credit
30 Mar 18 Held-to-Maturity Debt investments $26,000
[$25,000 + $1,000)
Cash $26,000
(To record an investment in bonds)
Therefore, in the journal entry, it is debited to Held-to-Maturity Debt investments for $26,000
Marginal utility is the extra satisfaction gained from consuming one more unit of a good.