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yanalaym [24]
3 years ago
14

he following information was taken from a company’s bank reconciliation at the end of the year: Bank balance $ 9,000 Checks outs

tanding $ 7,100 Note collected by the bank $ 1,600 Service fee $ 28 Deposits outstanding $ 5,300 NSF check $ 440 What is the correct cash balance that should be reported in the company's balance sheet at the end of the year?
Business
1 answer:
QveST [7]3 years ago
7 0

Answer:

$7,200

Explanation:

Data given in the question

Bank balance $9,000

Checks outstanding $7,100

Note collected by the bank $1,600

Service fee $28

Deposits outstanding $5,300

NSF check $440

The computation of the correct cash balance is shown below:

= Bank balance + Deposits outstanding - Checks outstanding

= $9,000 + $5,300 - $7,100

= $7,200

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The smaller the required reserve ratio the larger the simple deposit multiplier. Do you agree or disagree with this statement. E
TiliK225 [7]

Answer:

Agree

Explanation:

A deposit multiplier is maximum amount of money that can be created for each unit of reserve. It is key requirement for maintaining economy's basic money supply. The simple deposit multiplier is 1 / rr * change in R. Deposit multiplier is the inverse of reserve ratio. The higher the reserve ratio the lesser will be the deposit multiplier. Reserve ratio is the minimum amount of money that must be kept in the deposit.

8 0
3 years ago
A buyer and a seller enter a contract for the sale of a three-bedroom residential property. Shortly after the contract is in pla
Komok [63]

Answer:

The best answer to the question: How should the parties proceed, when talking about the buying of a house in which the buyer has already entered a contract with the seller of the property, before having an inspection performed on it, to find out that there are some issues with the property itself, would be, C: The fixes do not become part of the sales agreement.

Explanation:

To begin with, the buyer should have had the inspection done before entering an agreement, and much more signing the contract. Now that the contract is in place, and since the buyer did not have the inspection done beforehand, the terms that would have made the seller responsible for making fixes on the damaged property are not part of the contract. The buyer signed the contract without these adendums and therefore, it is no longer the seller´s responsibility, as part of the original contract, to take care of them. The buyer must abide by the original contract because he did not insist on having any such provisions placed on it that would have made the seller responsible for the fixes.

3 0
3 years ago
Match each retail term with the correct definition
katen-ka-za [31]

Answer:

what retall terms

Explanation:

8 0
3 years ago
Which financial leverage ratio is used with two other ratios to mathematically produce the return on equity ratio?
ipn [44]

Answer: c. Total Assets/ Equity

Explanation:

To measure the Return on Equity with 3 ratios, the <em>DuPont Analysis</em> can be used. This is a technique of deconstructing the Return on Equity ratio into various constituent ratios so that their effect on Return on Equity is better know.

The basic DuPont Analysis is;

Return on Equity = \frac{Net Income}{Revenue} * \frac{Sales}{Total Assets}  * \frac{Total Assets}{Equity}

Total Assets/ Equity or the Assets to Shareholder Equity ratio is the answer.

5 0
3 years ago
Charles Lackey operates a bakery in Idaho Falls, Idaho. Because of its excellent product and excellent location, demand has incr
galina1969 [7]

Answer:

Current multi factor productivity for 640 work hours per month is 0.24 loaf/dollar

Explanation:

Employees are being paid $8 per hour,

Constant utility cost per month will remain same as $600

and loaf ingredient cost $0.35/loaf

Current multi factor productivity for 640 work hours per month is 0.24 loaf/dollar

640 hours  * $8/hour = $5,120

1500 loaves * $0.35 = $525

$5,120 + $525 + $600 = $6,245

= 1500 loaves / $6,245

=0.24 loaf/dollar

5 0
2 years ago
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