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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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4,000 m

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2 years ago
Qu. 13-95 (Algo) Two products, QI and VH, emerge from a joint process... Two products, QI and VH, emerge from a joint process. P
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Answer and Explanation:

The computation of the financial advantage or disadvantage is as follows:

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Selling price after further processing  13.00

Selling price at split off point                 11.00

Incremental revenue per pound or gallon 2.00

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7 0
3 years ago
20. Which of the following is not a difference between monopolies and perfectly competitive markets? a. Monopolies can earn prof
Naily [24]

Answer:

The correct answer is option c.

Explanation:

A perfectly competitive market has a large number of buyers and sellers. The firms are price takers and the price is determined by the market forces. Thus the monopoly firms face a horizontal demand curve. This horizontal line represents price, average revenue, and marginal revenue. The equilibrium is obtained where price, (average revenue and marginal revenue) is equal to marginal cost. There is no restriction on entry and exit of firms in the long run. That's why firms face a break-even in the long run.  

While in a monopoly market there is a single firm. This firm fixes price higher than marginal cost. The demand curve of the monopoly is a downward sloping showing relatively elastic demand. A monopoly firm can earn profits in both the short run as well as the long run.

6 0
3 years ago
When you do a job that needs to be done without being told, you demonstrate _____.
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5 0
3 years ago
Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of b
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Answer:

$27,900

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Therefore for computing the adjusted cash balance we simply deduct the bank service fee and NSF check from balance at may 31

Hence, the adjusted cash balance is $27,900

7 0
3 years ago
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