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sukhopar [10]
3 years ago
13

From the following particulars of Purple New Co., prepare the bank reconciliation statement as on May 31, 2016.

Business
1 answer:
juin [17]3 years ago
5 0

Answer:

Explanation:

Bank reconciliation statement:

Cash account balance $3950

Less: Deposit in transit ($900)

Less: Bank service charges ($75)

Add: Interest added to the checking account by the bank $150

Add: Checks outstanding $960

Less: Check drawn incorrectly charged by the bank ($85) [150-65]

Adjusted balance $4,000

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A buyer wishes to have the choice to buy a parcel of land in the next few months, so he offers option money to the owner. if the
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A buyer wishes to have the choice to buy a parcel of land in the next few months, this transaction is an example of equitable title to the property.

An option to buy actual property offers the holder an equitable interest within the assets. options to buy real assets provide the holder equitable interest within the assets and the right to essentially force the belongings owner to sell at any time all through the time period of the contract.

While a potential client makes a written buy provide that the vendor accepts, then the: customer gets equitable title to the assets. A bilateral contract is one that: The promise of one birthday celebration is given in alternate for the promise of the alternative birthday party.

An alternative settlement is in which a prospective client enters into an settlement with a landowner for the proper to buy their land/assets, frequently paying the landowner a amount of money as an option fee. the possible consumer then has the choice inside a duration described inside the settlement to shop for the belongings.

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4 0
1 year ago
the following statement is an example of what type of fallacy? ""we must either support the governor’s plan to increase taxes on
ankoles [38]

The following statement is an example of false dilemma type of fallacy. ""we must either support the governor’s plan to increase taxes on food or we will never be able to balance the state budget.""

Sometimes called the “either-or” fallacy, a false dilemma is a logical fallacy that provides handiest  alternatives or aspects when there are many options or sides. Fake ethical dilemmas are instances in which it's far clean what need to be carried out however in which there's temptation or stress to behave in another way. In business ethics, the distinction between proper and false dilemmas has also been defined because the distinction among dilemmas and temptations. The principle manner to counter a false catch 22 situation is to demonstrate that the alternatives which were cited in the predicament aren't collectively specific, or that there are extra available alternatives past the ones that had been noted.

False cause is a fallacy that assumes that one thing causes some other, but there is no logical connection between the two. A cause must be direct and robust enough, not just before or somewhat related to motive the problem. In a false cause fallacy, the alleged motive might not be strong or direct enough.

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3 0
1 year ago
If the Fed wants to discourage commercial bank lending, it will Group of answer choices buy government securities from commercia
8090 [49]

Answer:

increase the interest paid on excess reserves held at the Fed

Explanation:

Commercial lending is a loan that is between a business and a financial institution where large sums of money are taken by the business to fund major expenditures that they're unable to afford.

Therefore, one way that the federal government can discourage commercial lending would be to increase the interest paid on excess reserves held at the Fed. This would force the borrowers to pay more interest and make them reconsider taking a commercial loan.

4 0
3 years ago
Chegg "​(Yield to​ maturity)  A​ bond's market price is ​$725. It has a ​$1000 par​ value, will mature in 14 ​years, and has a c
spayn [35]

Answer:

17.26%

YTM falls to 16.62%

YTM rises to 19.34%

Explanation:

The bond yield to maturity is the computed using excel rate formula given below:

=rate(nper,pmt,-pv,fv)

nper is the number of semiannual coupons the bond has i.e 14*2=28

pmt is the semiannual coupon of the bond=$1000*12%/2=$60

pv is the current market price of $725

fv is the face value of $1000

=rate(28,60,-725,1000)=8.63%

The 8.63%  is semiannual yield , the annual yield=8.63% *2=17.26%

28 years:

=rate(28*2,60,-725,1000)=8.31% *2=16.62%

7 years:

=rate(7*2,60,-725,1000)=9.67%*2=19.34%

3 0
3 years ago
LO.9 Renata Corporation purchased equipment in 2017 for $180,000 and has taken $83,000 of regular MACRS depreciation. Renata Cor
Pani-rosa [81]

Answer:

It will be considered a long-term capital gains as Renata Corporation holded for a priod of time longer than a year.

The gain will be the difference between tax basis (cost - tax purporse depreciation) which amount to $13,000

Explanation:

selling price           110,000

180,000 - 83,000 = 97,000 tax basis

long.term capital gain 13,000

7 0
3 years ago
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