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Cloud [144]
3 years ago
14

A company's Cash account shows an ending balance of $4,200. Reconciling items included a bookkeeper error of $50 (a $550 check r

ecorded as $600), two outstanding checks totaling $810, a service charge of $25, a deposit in transit of $280, and interest revenue of $33. What is the adjusted book balance?
Business
1 answer:
hoa [83]3 years ago
6 0

Answer:

Adjusted book balance will be $4258

Explanation:

We have given ending book balance = $4200

Error in recording = $50

Interest revenue = $33

And service charge = $25

We have to find the adjusted book balance

Adjusted book balance is given by

Adjusted book balance = Ending book balance + error in recording + interest revenue - service charge = $4200+$50+$33-$25=$4258

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"Suppose the government guarantees the price of carbon. At this price, the payoff after 1 year is $120,190 for sure. What is the
In-s [12.5K]

Answer: a. U.S. Treasuries with 1 year to maturity

Explanation:

The Government guaranteed the price of the carbon and the payoff is to be one year later.

The opportunity cost will therefore be a similar Government security to the payoff term of the carbon sale which is 1 year.

The Government security with a similar payoff term is the US Treasury bill with 1 year left till maturity and this will be the opportunity cost because instead of the Government issuing and paying out that security they will instead pay for the carbon.

4 0
3 years ago
Converse Florists​ & Co. reported assets of $ 1 comma 200 and equity of $ 350. What is its debt​ ratio? (Round your percenta
Bas_tet [7]

Answer:

70.83%      

Explanation:

Given that,

Company's assets = $1,200

Equity = $350

Dept = Reported assets - Company's equity

        = $1,200 - $350

        = $850

Dept ratio = (Debt ÷ Total assets) × 100

                 = ($850 ÷ $1,200) × 100      

                 = 0.7083 × 100

                 = 70.83%      

Therefore, the Dept ratio of Converse Florists​ & Co. is 70.83%.

7 0
3 years ago
A marketing ___________ is the blending of four marketing elements product, distribution, price, and promotion.
Arturiano [62]
A market mix is the blending of four marketing elements product, distribution price and promotion
5 0
3 years ago
One of the differences in accounting for a process costing system compared to a job order system is that the amounts used to tra
AlekseyPX

Answer:

The correct answer is letter "A": true.

Explanation:

Companies using the process costing approach accumulate and assign costs to mass production of a good. Instead, job order costing assigns costs of manufacturing to individual units of production. In process costing, the costs are reported from one department involved in manufacturing to another following the production process. On the other hand, in job order costing, the costs are reported in job cost cards as they are being used.

7 0
3 years ago
Meng Co. maintains a $300 petty cash fund. On January 31, the fund is replenished. The accumulated receipts on that date represe
Alona [7]

Answer: The correct answer is e) $32.

Explanation:

Petty cash fund. $300

Office supplies. (80)

Merchandise inventory. (160)

Miscellaneous expenses. (20)

Cash shortage. (8)

Balance in petty cash. $32

In terms of accounting entries,

Debit Office supplies. $80

Debit Merchandise inventory. $160

Debit Miscellaneous expenses. $20

Debit Cash shortage. $8

Credit Petty cash refund. $268

In the above entries, $268 would be refunded to petty cash fund to reinstate it to $300.

3 0
3 years ago
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