Answer:
the cash balance is $17,615
Explanation:
The computation of the cash balance before the adjustment is shown below:
= Ending cash balance + deposit in transit - oustanding checks + NSF + bank service charges - payment
= $19,200 + $1,850 - $2,700 + $1,400 + $65 - $2,200
= $17,615
hence, the cash balance is $17,615
Answer:
VC% = 73.5%
The New variable cost percentage of sales = 73.5%
Explanation:
Given;
New Fixed cost = $5.3 million
Total cost = $20 million
Total variable cost = $20 - $5.3 = $14.7 million
Variable cost percent=(total variable cost/total cost)×100%
VC% = (14.7/20) × 100%
VC% = 73.5%
Answer:
b. how much wealth people want to hold in liquid form.
Explanation:
Money demand refers to the amount of liquid assets or wealth, which can be quickly converted to cash, an individual desires hold at a particular point in time, which enables the individual to easily carry out transactions such as exchange of goods and services. It is simply referred to as the desire of people to hold cash. It does include illiquid physical assets that cannot be quickly converted to cash. It includes cash or bank deposits.
Answer:
a. Corporations generally find it easier to raise large amounts of capital.
Explanation:
Because of limited liabiliy it is easier to raise capital.
Answer:
FASB financial standards. Any accounting guidance included in the FASB Codification
Explanation:
GAAP (Generally accepted accounting principles) is primarily comprised of a series of pronouncements from the financial accounting standards board (FASB).
The FASB is not a governmental agency. It is an independent agency tasked with identifying the best way to account for corporate transactions and report them in the most appropriate manner.
GAAP, as set forth by the FASB, is only for US firms and international firms selling stock on US stock exchanges.
Other countries have their own accounting standards agencies that set their own form of GAAP rules.
