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mestny [16]
3 years ago
5

The checkbook of Vance Company had a balance of $2,210.55. The bank statement showed a balance of $4,918.18. The bank collected

a $2,000 note less a $5 service charge. There was a deposit in transit of $610.88. Several checks outstanding totaled $1,196.17. Vance collected $42.33 in interest on the checking account. Vance recorded a $300 check for $400. The bank service charge is $14.99. What is the adjusted reconciled balance?
Business
1 answer:
Vikentia [17]3 years ago
6 0

Answer:

$4,332.89

Explanation:

The adjusted reconciled checkbook balance will include:

    checkbook balance                                         $2,210.55

    + bank collect note                                         $2,000.00

    - fee for collecting the note                                 ($5.00)

    + earned interest                                                  $42.33

    + difference in recording a check $400 - $300 = $100

   <u> - banking service charge                                   ($14.99)  </u>

    total =                                                              $4,332.89

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Match each of the following accounts to its proper balance sheet classification.
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Answer:

   Account                                          Balance sheet classification

a. Accounts payable                          Current liabilities

b. Accounts receivable                     Current Assets

c. Accumulated depreciation            Property,plant and equipment

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h. Investment in long-term bonds      Long term investment

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8 0
3 years ago
________ is one of the solution to the agency problem in publiclyminus−held corporations.
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3 years ago
Joel and Mike would like to start a new business selling a product new to the U.S., the Peraves Monotracer. Joel and Mike have d
nadezda [96]

<u>Full question:</u>

Joel and Mike would like to start a new business selling a product new to the U.S., the Peraves Monotracer. Joel and Mike have done a considerable amount of research on this product, and think it would be successful in the U.S. However, they are still concerned about the risk of a new venture and both would like to avoid losing any personal assets. They should organize their firm as a

Multiple Choice

corporation.

limited partnership.

general partnership.

sole proprietorship.

<u>Answer:</u>

They should organize their firm as a   corporation.

<u>Explanation:</u>

A corporation is a kind of business process that represents the business as a separate, legitimate entity managed by a group of directors identified as the board of directors.

An essential component of a corporation is confined liability, which indicates that shareholders may practice share in the profits by dividends and stock recognition but are not individually responsible for the company's shares. A corporation's purposes can be for-profit or not, as with donations. Still, the huge preponderance of corporations intends to afford a return for its shareholders.

8 0
3 years ago
On January​ 1, Year​ 1, Gallagher Corporation issued 400 comma 000 stock options for 400 comma 000 shares to a division manager.
masha68 [24]

Answer:

$1,000,000

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Option estimated fair value $10

Numbers of years 4

Hence:

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=$4,000,000/4years

= $1,000,000

Therefore pretax compensation expense for year 1 will be $1,000,000

4 0
3 years ago
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