A check with a future date on it is called

Why is it relevant that finance tends to attract large amounts of money? a. Money can be used for good or evil b. Finance attrac

SpyIntel [72]

Answer: c. Financial markets are a critical components of economic success

Explanation:

Economic success runs on companies and individuals being able to produce goods and services for the economy. To be able to do so they need capital to invest and most times they don't have that capital.

This is where Finance comes in. It connects people who do not have the capital but want to produce to those that have the capital but do not necessarily want to produce.

The huge amounts of money that finance attracts is channelled to those who need it. They then produce and the economy becomes successful.

6 0

3 years ago

A firm has the following accounts and financial data for 2007:

Oksi-84 [34.3K]

Answer:

The correct answer is $302.40.

Explanation:

According to the scenario, the computation can be done as:

To calculate firms' earning first we less cost of goods and total operating expenses from sales revenue:

= $3,060 - $1,800 - 600

= $660

Now we deduct the interest expense, then

= $660 - $126

= $534

Now we deduct tax rate, then

= $534 × $213.60 ( $534× 40%)

= $320.40

Now we finally deduct the dividends to get the firm's earning to common shareholder's, then

= $320.40 - 18

= $302.40

Hence, the firm's earning to common shareholder's is $302.40.

5 0

4 years ago

Suppose your principal objective is to maximize the selectivity of monochloroethane production relative to dichloroethane produc

Makovka662 [10]

We are given the series of chemical reactions:

Ethane is chlorinated in a continuous reactor:

C2H6 + Cl2 --> C2H5Cl + HCl

But some of the product monochloroethane becomes further chlorinated by an undesired side reaction:

C2H5Cl + Cl2 --> C2H4Cl2 + HCl

So to avoid the product monochloroethane to be further chlorinated, there must be fast processing or fast conversion of ethane so that there would less time for further chlorination. Hence we must design the reactor for high conversion of ethane.

To make the process economical, there must be a downstream separation step that would separate the main product monochloroethane from the undesired product dichloroethane.

4 0

4 years ago

Benefits are offered by employers to attract good employees

Troyanec [42]

Answer:

its true :))

Explanation:

4 0

3 years ago

Read 2 more answers

The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $166,436. The bank statement indicated a balance

daser333 [38]

Answer:

1. Pala Medical Co. Bank Reconciliation Statement as on June 30, 20Y1

PARTICULARS $ $

Balance as per cash book 166,436

Add: Cheques issued but not yet presented 19,427

25,000 note collected by Bank 26,500

45,927

212,363

Deduct: Checks deposited but not yet collected

by the bank 12,300

Overstatement of figure by the bank 720

Returned check wrongly recorded by Pala

Medical Co. 3,600

Bank service charge 55

16,675

Balance as per bank statement as on June 30, 20Y1 195,688

2. DETAIL DR CR

$ $

Cash Account 25,000

Investment 25,000

Matured Investment ($25,000 Notes)

Cash Account 1,500

Interst Income 1,500

Being interest on $25,000 Notes received

Cash Account 400

Creditors - Skyline Supply Co. 400

Being correction of Payment to Skyline Supply Co. wronfly recorded

Creditors - Skyline Supply Co. 4,000

Cash Account 4,000

Being Payment to Skyline Supply Co.

Bank Charges 55

Cash Account 55

Bank Charges recorded captured in the bank statement

3. If a balance sheet were prepared for Pala Medical Co. on June 30, 20Y1 the amount to be reported as cask is $166,436

Explanation:

1. The balance shown by the bank statement seldom agree with the balance shown by the cash book, bank reconciliation statement is usually drawn up to agree the balance shown by the bank statement with the balance shown by the cash book.

In this question:

a. Check outstanding of $19,427 are checks issued to creditors which where not presented for payment. generally known as unpresented checks.

b. The receipts of $12,300 recorded in Pala Medical Co. cash book was not credited by the bank, this will obviously cause a disagreement between the bank statement and the cash book at month end.

c. The amount of $26,500 recorded in the bank statement must be reported correctly the the cash book and the relevant ledger by debiting the cash book by the total receipt of $26,500 and crediting investment and with $25,000 and crediting the interest elements to interest income account.

d. The wrong recording of $400 instead of $4000 must be corrected by reversing the initial entry. this is done by debiting Cash book with $400 and crediting Creditor account - Skyline Supply Co. with $400 and recording the correct entry by debiting Creditor account - Skyline Supply Co. with $4000 and crediting cash book by $4000.

e. The check of $195 is recorded correctly already in the cash book, it is the bank to pass the necessary entry but it will only enter the company cash book.

f. Bank service charge should be recorded by debiting bank charges with $55 and crediting cash book with $55

8 0

4 years ago