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Answer:
The adjusted cash balance per bank at July 31 is $8,615.
Explanation:
Outstanding checks are the ones which the business has issued and recorded, but which the bank has not yet cleared. Hence, Sandhill Co. should deduct this amount from the cash balance per bank.
Deposits in transit are the deposits that are received and recorded by the business, but which the bank has not yet processed. Hence, Sandhill Co. should add this amount to its cash balance per bank.
The bank service charge is already accounted for in the cash balance per bank and requires no further treatment.
Therefore,
Initial cash balance per bank $8,140
Less: Outstanding checks ($770)
Add: Deposits in transit $1,245
Adjusted cash balance per bank $8,615
Answer:
The overhead applied and the under- or over application of overhead for the period is $2,375,000 and $95,000 respectively
Explanation:
The computation of the overhead applied and the under- or over application of overhead for the period is shown below:
Overhead applied = (Estimated annual overhead cost ÷ Estimated machine hours) × Actual machine hours
= ($2,500,000 ÷ 100,000 machine hours) × 95,000 machine hours
= $2,375,000
So, the over applied overhead = Actual annual overhead cost - Overhead applied
= $2,470,000 - $2,375,000
= $95,000
Answer:
Lanny's deductible income = $24,000
Explanation:
Given:
Lanny's payment per month (Wife) = $2,000
Lanny's payment per month (Child) = $5,00
Lanny's deductible income = ?
Computation of Lanny's deductible income :
Lanny's deductible income = Lanny's payment per month (Wife) × 12 month
Lanny's deductible income = $2,000 × 12 month
Lanny's deductible income = $24,000
Note: Payment made for the support of a single child must not be deducted in Gross Income.
<em>These most common five modes of transport are: railways, roadways, airways, waterways and pipelines</em>
- Railways is a means of transport, on vehicles which run on tracks (rails or railroads).
- Railways is a means of transport, on vehicles which run on tracks (rails or railroads).Roadways are Road transport means transportation of goods and personnel from one place to the other on roads.
- Railways is a means of transport, on vehicles which run on tracks (rails or railroads).Roadways are Road transport means transportation of goods and personnel from one place to the other on roads. Airways is an airway or air route is a defined corridor that connects one specified location to another at a specified altitude, along which an aircraft that meets the requirements of the airway may be flown.
- Railways is a means of transport, on vehicles which run on tracks (rails or railroads).Roadways are Road transport means transportation of goods and personnel from one place to the other on roads. Airways is an airway or air route is a defined corridor that connects one specified location to another at a specified altitude, along which an aircraft that meets the requirements of the airway may be flown.Waterways is any body of water that can be used for transportation by people in boats. These include rivers, lakes, oceans, and canals.
- Railways is a means of transport, on vehicles which run on tracks (rails or railroads).Roadways are Road transport means transportation of goods and personnel from one place to the other on roads. Airways is an airway or air route is a defined corridor that connects one specified location to another at a specified altitude, along which an aircraft that meets the requirements of the airway may be flown.Waterways is any body of water that can be used for transportation by people in boats. These include rivers, lakes, oceans, and canals.Pipelines Pipeline transport is the long-distance transportation of a liquid or gas through a system of pipes—a pipeline—typically to a market area for consumption.
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