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Pavlova-9 [17]
3 years ago
6

Egrane, Inc.'s monthly bank statement showed the ending balance of cash of $18,600. The bank reconciliation for the period showe

d an adjustment for a deposit in transit of $1,550, outstanding checks of $2,100, a NSF check of $800, bank service charges of $35 and the EFT from a customer in payment of the customer's account of $1,600. What was the cash balance on the Egrane's books (before the adjustments for items on the bank reconciliation)? Multiple Choice $18,050 $17,285 $19,150 $20,415
Business
1 answer:
gayaneshka [121]3 years ago
3 0

Answer:

Option B $17,285 is correct the answer.

Explanation:

<u>Computation Table                       </u>

<u>Particular                         Amount</u>

Ending balance        $18,600

Add: Deposit in transit $1,550

Less: Outstanding  $2,100

Add: NSF check         $800

Add: Bank  charges $35

<u>Less</u><u>: EFT                 $1,600 </u>

<u>Cash balance          $17285 </u>

<u></u>

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7 0
3 years ago
What term describes the relationship between real gdp per hour worked and capital per hour​ worked, holding the level of technol
Alecsey [184]

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3 0
3 years ago
Which statement is true? A. Bonds are generally called at par value.B. A current list of all bondholders is maintained whenever
slavikrds [6]

Answer: Option C

Explanation:

A. Bonds can be called at discount or premium depending upon the interest rate availing in market and the coupon interest rate.

B. In case of bearer bonds no transactions and ownership records are maintained.

C. Indenture is the contract between issuer and holder specifying the duties and obligations of issuer and the rights of holders.

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8 0
3 years ago
Your buddy in mechanical engineering has invented a money machine. The main drawback of the machine is that it is slow. It takes
m_a_m_a [10]

Answer:

 

Explanation:

a ) We shall calculate the NPV of the project . If it is positive , then money can be invested

Cash outflow in the beginning =1000

Present value of perpetual annuity of 100 at 9.5 %

100 / .095

= 1052.63

which is more than initial cash outflow

So NPV is positive

Hence money can be invested.

b )

If machine takes one year to build , first year cash outflow of 100 will be absent

Present value of 100 after 1 year

= 100 / 1.095

= 91.32

So present value of annuity

= 1052.63 - 91.32

= 961.31

This is less than 1000 so

NPV is negative.

Hence money can not be invested.

5 0
3 years ago
The adjusted trial balance of Norton Company contained the following information. Assume the tax rate is 25%:
const2013 [10]

Answer:

b. $65,000

Explanation:

Particulars                                            Amount

Revenues

Service Revenue                                   $390,000  

Less: Sales Return and allowance       $10,000

Less: Sales Discount                             <u>$5,000   </u>

Net Sales Revenue                                $375,000

Less: Cost of Goods Sold                      <u>$200,000</u>

Gross Profit                                             $175,000

Less: Operating Expenses                     <u>$110,000</u>

Operating Income                                  <u>$65,000</u>

Thus, income from operation is $65,000

6 0
3 years ago
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