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3 years ago

A nonsufficient-funds check was returned to your company. How does the bank treat this on your bank statement?

Business

1 answer:

Anit [1.1K]3 years ago

8 0

Answer:

B. IT'S SHOWN AS A DEBIT MEMO

Explanation:

A bank creates a debit memo when it charges a company a fee on its bank statement, thereby reducing the balance in the company's checking account. Thus, if a bank account has a balance of $1,000 and the bank charges a service fee of $50 with a debit memo, the account then has a remaining balance of $950. Examples of charges that can cause debit memorandums are bank service charges, bounced (not sufficient funds) check fees, charges for the printing of check stock, and rental fees for the use of remote deposit capture scanners and software

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Ivory Fast Delivery Company, an accrual basis taxpayer, frequently has claims for damages to property the company delivered. Oft

Virty [35]

Answer:

D) $50,000.

Explanation:

Economic performance requires that the company provided services or products to another party (i.e. a customer).

The all-events test states that all the events that caused the liability actually occurred during the accounting period and that occurrence can be accurately established. During 2017, the company could only accurately establish that $50,000 of the claims were real.

4 0

3 years ago

The movement of electricity is called: A. Amperage B. Current C. Voltage

ElenaW [278]

B. Current. Currents are the way electricity travels, voltage is how many volts of electricity is in the current and amperage is the strength of the current.

6 0

3 years ago

You are saving for a Porsche Carrera Cabriolet, which currently sells for nearly half a million dollars. Your plan is to deposit

nordsb [41]

Answer:

a.) $217,298.44

b.) $253,514.84.

c.) $239,061.37 .

Explanation:

a. Determine how much you will have saved after 10 years

This is an ordinary annuity question and you are required to find the Future value (FV) at year 10. Using a financial calculator, key in the following inputs;

Total duration of investment; N = 10

Recurring payment; PMT = -15,000

Interest rate ; I/Y = 8%

PV = 0

then compute Future value; CPT FV = 217,298.437

Therefore, in 10 years, you will have saved $217,298.44 which does not meet your goal of half a million dollars.

b. Determine the amount saved if you were able to deposit $17, 500 each year.

With the recurring payment increasing to 17,500 per year and the interest rate remaining at 8%, find the new Future value by keying in the following inputs;

Recurring payment; PMT = - 17,500

Interest rate ; I/Y = 8%

Total duration of investment; N = 10

PV = 0

then compute Future value; CPT FV = 253,514.843

Therefore, in 10 years, you will have saved $253,514.84.

c. Determine the amount saved if you deposit $15,000 each year, but with 10 percent interest.

It is still an ordinary annuity question , however, the recurring payment(PMT) will be 15,000 as before but with an annual interest rate(I/Y) of 10%. Using a financial calculator, key in the following inputs;

Total duration of investment; N = 10

Recurring payment; PMT = -15,000

Interest rate ; I/Y = 10%

PV = 0

then compute Future value; CPT FV = 239,061.369

Therefore, in 10 years, you will have saved $239,061.37 .

7 0

2 years ago

Budgeting - The Production Budget (2pts): Spanasonic Co. manufactures batteries for electric vehicles. Management reports ending

Doss [256]

Production budgets are used by manufacturers to determine the quantity of product units that will be produced. Based on the predicted sales, the production budget is chosen.

Regarding projected inventory levels, it is modified in accordance with the company's inventory policy. A manufacturer creates cost budgets for the direct materials, direct labour, and overhead expenses needed for manufacturing based on the production budget.

The company's inventory policy should be kept in mind while creating a production budget. The production budget is built on the sales budget, with changes made for starting and ending inventories.

The company's inventory management strategy affects the production budget as well. Depending on the company's strategic outlook, inventories may be increased or decreased.

For the given question, the production budget is prepared and attached in the form of an image.

Learn more about Production Budget here: brainly.com/question/13061264

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4 0

1 year ago

Zack developed software that helps farmers to plow their fields in a manner that prevents erosion and maximizes the effectivenes

Reil [10]

Answer:

$60,000 or $12,000

Explanation:

1. Since Zack expects Sparky to use the developed software for a period of five years, we could assume that the revenue for the first year of the contract would be $60,000.

2. Or if we Spread out the average revenue for a period of five years from the licensing fee, 60,000 / 5 (years) would give us 12,000 dollars per year.

5 0

3 years ago