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lorasvet [3.4K]
2 years ago
6

In the process of reconciling its bank statement for January, Maxi's Clothing's accountant compiles the following information:

Business
1 answer:
CaHeK987 [17]2 years ago
7 0

Answer:

(D) $4,055

Explanation:

To find the adjusted book balance, we need the ending balance of the cash book:

Book balance                                  $4,725

Less: bank service charges                 (25)

Less: EFT                                             (380)

Less: NSF check returned by bank   (265)

<em>Adjusted book balance</em>                  <u>$4,055</u>

Since bank service had been deducted from the bank, Maxis clothing had to deduct the same amount. When bank deducts any money, generally it notifies through text message or sometimes does not notify directly. Therefore, It had to be deducted from the cash book.

Maxi's accounts receivable paid him a check and the firm immediately added the amount to the cash book. When the accountant went for depositing the check, there were not sufficient fund (NSF). Therefore, the amount did not add to the bank balance. Hence, the firm had to deduct it again.

Through Electronic Fund Transfer (EFT), a payment had been made by the bank for Maxi clothing. Since the expense did not deduct from the cash book, the amount had to deduct it to get the adjusted book value.

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Masters, Inc., has sales of $37,900, costs of $15,000, depreciation expense of $2,400, and interest expense of $1,310. If the ta
I am Lyosha [343]

Answer:

Operating cash flow= $16,792.5

Explanation:

Giving the following information:

Masters, Inc., has sales of $37,900, costs of $15,000, depreciation expense of $2,400, and interest expense of $1,310.

<u>To calculate the operating cash flow, we need to use the following structure:</u>

Sales= 37,900

COGS= (15,000)

Gross profit= 22,900

Depreciation= (2,400)

Interest= (1,310)

EBT= 19,190

Tax= (19,190*0.25)= (4,797.5)

Depreciation= 2,400

Operating cash flow= 16,792.5

6 0
3 years ago
Use the following data to answer QuestionAccounts payable $30,000Accounts receivable 65,000Accrued liabilities 7,000Cash 20,000I
ra1l [238]

Answer:

Current (quick) assets: $195,000

Working capital: $138,000

Explanation:

We can find the correct answer by laying out the information appropriately:

Current Assets:

Accounts Receivable: $65,000

Cash: $20,000

Inventory: $72,000

Marketable securities: $36,000

Prepaid expenses: $2,000

Total: $195,000

Current Liabilities:

Accounts payable: $30,000

Accrued liabilities: $7,000

Notes payable (short-term): $20,000

Total: $57,000

Working capital = current assets - current liabilities

Working capital = $195,000 - $57,000

                           = $138,000

The following accounts mentioned in the question are non-current assets: intangible assets, long-term investments, and property, plant and equipment.

And long-term liabilities, as the name implies, is classified as a non-current liability.

3 0
2 years ago
If a car company collaborated with a sheet metal supplier, the car company would be the supplier's ______. Multiple choice quest
kotykmax [81]

A car company would be called a <u>supplier's corporate partner</u> if its collaborated with a sheet metal supplier.

<h2>What is corporate partner?</h2>

A corporate partnership means a beneficial relationship between two separate company for specific purpose.

Here, the car company and sheet metal supplier are corporate partners because they have a specific purpose they serve there selves.

In conclusion, the car company would be called a <u>supplier's corporate partner</u> if its collaborated with a sheet metal supplier.

Read more about corporate partnership

<em>brainly.com/question/14034519</em>

8 0
2 years ago
Is god real yes or no answer
dem82 [27]
There is no factual evidence to either. Modern Christianity is based off of faith, you gotta believe he’s real. And in most other religions their god/gods are real. The only “proof” is either miracles or visions. Which in most cases can’t always be proven true. I say yes, but only because I believe he is.
5 0
2 years ago
Characteristics of level production include. Select one or more:
Anna007 [38]

Answer:

Characteristics of level production include:

a. All of these answers are correct.

Explanation:

Production leveling was originated in Japan, and it is called production smoothing too, its strategic plan modifies inventory stock to keep a balanced production level for an specific period, to leveling by volume, or by product. This approach requires careful management of the orders so they can be predicted reasonably and accurately in terms of facility restraints, or to reduce the valueless added section of the production time, and to remove the waste of items in a row, to adapt getting throughput rates.

8 0
3 years ago
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