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Gemiola [76]
3 years ago
6

Nickleson Company had an unadjusted cash balance of $6,558 as of May 31. The company’s bank statement, also dated May 31, includ

ed a $86 NSF check written by one of Nickleson’s customers. There were $1,223 in outstanding checks and $240 in deposits in transit as of May 31. According to the bank statement, service charges were $85, and the bank collected an $1,050 note receivable for Nickleson. The bank statement also showed $18 of interest revenue earned by Nickleson.
Required
Determine the true cash balance as of May 31.
Business
1 answer:
Anna71 [15]3 years ago
6 0

Answer:

True cash balance $7,455

Explanation:

Calculation to Determine the true cash balance as of May

Unadjusted cash balance of $6,558

Add bank collection note $1,050

Add interest revenue $18

Less NSF check $86

Less service charges $85

True cash balance $7,455

Therefore True cash balance is $7,455

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What the difference between international accounting and domestic accounting
Umnica [9.8K]

Explanation:

International accounting (IAS) includes accounting standards and concepts of various countries. MNC's which operates in various countries need to follow the local accounting procedure and then need to compile the data so the overall performance of the company, can be determined. This also involves different currencies making the work difficult.

Domestic accounting (DAS) - every country have their own accounting standards and methods which must be followed while preparing books of accounts and are called domestic accounting. It is followed by companies which deal in only domestic business. Domestic accounting is done in home currency and is easier than international accounting.

3 0
3 years ago
Suppose the government passes a law eliminating holidays and, as a result the production of goods and services increases because
dedylja [7]

Answer:

The correct answer is GDP would definitely increase because GDP excludes leisure.

Explanation:

The GDP does not measure the level of development of a country, nor does it measure the quality or level of its educational system or its health. Come on, that the quality of life in general is not measurable by GDP, although it is true that countries with a higher GDP per capita can afford better health or education services, as well as better infrastructure and services in general.

It does not measure the state of the environment or the damage caused to it or natural resources by the economic activity carried out. In other words, GDP does not report externalities, that is, it does not reflect the total social benefits and costs derived from economic activity.

GDP does not measure the quality of the goods and services produced. The GDP figures are only numbers that do not take into account exactly what is being produced or what is the quality of what is produced. This prevents, for example, comparing production between different eras. Does a computer add up to GDP now than in the 80s? The answer is no. Does a country of services add up to an oil exporter? The answer is also no.

It ignores the value of elements that contribute to maintaining the level of well-being of the population, such as leisure or freedom. In freer countries or in which its inhabitants have more leisure time and better options in which to invest it, well-being is much greater.

6 0
3 years ago
The Black Corporation has provided the following information: Net income $ 560,000 Increase in prepaid expenses 14,000 Amortizat
Sav [38]

Answer

The answer and procedures of the exercise are attached in the following archives.

Explanation  

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

3 0
3 years ago
If a firm's marginal costs _____ then its _____. Group of answer choices rise; output increases fall; best-response curve shifts
ziro4ka [17]

If a firm's marginal costs <u>fall</u>, then its <u>price falls.</u>

This is based on the principle that if the marginal cost of a product or firm rises, that implies that the firm is operating at a high fixed cost, thereby leading to an increase in the cost of production, which generally equates to products having a high price.

On the other hand, where there is low marginal cost, production costs reduce because the products are being produced at a lower fixed cost. Thereby leading to lower prices.

Hence, in this case, it is concluded that "If a firm's marginal costs <u>fall</u>, then its <u>price falls</u>."

Learn more here: brainly.com/question/10474336

7 0
2 years ago
The common stock of the C.A.L.L. Corporation has been trading in a narrow range around $125 per share for months, and you believ
Bezzdna [24]

Answer:

The price of a 6-month call option on C.A.L.L. stock is $13.52

Explanation:

According to the given data we have the following:

P = Price of 6-months put option=$10.50.

So = Current price=$125

X = Exrecise price=$125

r = Risk free interest rate= 5%

T = Time 6 months = 1/2

In order to calculate the price of a 6-month call option on C.A.L.L. stock at an exercise price of $125 if it is at the money, we would have to use the formula of put-call parity as follows:

C=P+So- (<u>   X   )</u>

              ( 1+r)∧T

C=$10.50+$125-(<u>$125   )</u>

                            (1+0.05)∧1/2

C=$135.5-121.98

C=$13.52

The price of a 6-month call option on C.A.L.L. stock is $13.52

3 0
3 years ago
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