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Mnenie [13.5K]
3 years ago
5

Malik Corp.'s bank statement has an ending balance of $50,000. The deposits in transit were $6,000. NSF checks were $1,000. Chec

ks outstanding at the end of the month were $3,000. Using the bank statement, what is the corrected cash balance?
Business
1 answer:
olya-2409 [2.1K]3 years ago
6 0

Answer:

Corrected cash balance =

Ending balance           = $50,000

Deposit in transit         = + $6,000

NSF Checks                 =  - $1,000

Outstanding checks    <u>=  - $3,000</u>

Corrected cash balance = $52,000

Explanation:

To make Adjustments to the cash balance, follow these steps;

  • Ending Balance from Bank statement
  • Add Deposits in Transit
  • Deduct NSF checks
  • Deduct Outstanding checks

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Katen [24]

Answer:

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Explanation:

<em>First, we add the three cost component:</em>

materials used in production                 62,100

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overhead                                               403,100

total cost added during the period    663,400

<em>Then, using the WIP beginning and ending figures, we solve for cost of goods manufactured</em>

WIP         january 1st                 187,500

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Answer:

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Explanation:

We will solve for the rate being the annuity of 3 payment of 800

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For excel we will do the following:

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+800

+800

then we write in the empy cell

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For the second assignment:

we need to solve for time:

C \times \frac{1-(1+r)^{-time} }{rate} = PV\\  

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time            n  

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(1+0.06)^{-n} = \frac{31,897\times 0.06}{3,800}

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