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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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Erica Els will hire qualified workers from the local market

Explanation:

6 0
3 years ago
If the banking system has demand deposits of $100,000, total reserves equal to $15,000, and a required reserve ratio of 10 perce
Dmitriy789 [7]

The banking system can increase the volume of loans by a maximum of $50,000

<h3><u>What are total reserves?</u></h3>
  • A bank's reserves are calculated by multiplying its total deposits by the reserve ratio. For example, if a bank's deposits total $500 million, and the required reserve is 10%, multiply 500 by 0.10. The bank's required minimum reserve is $50 million.
<h3><u>Calculation of total reserves</u></h3>
  • The reserve ratio is the portion of reservable liabilities that commercial banks must hold onto, rather than lend out or invest. This is a requirement determined by the country's central bank, which in the United States is the Federal Reserve. It is also known as the cash reserve ratio.

Total Reserves = Cash in vault + Deposits at Fed.

Required Reserves = RR x Liabilities.

Excess Reserves = Total Reserves - Required Reserves.

Change in Money Supply = initial Excess Reserves x Money Multiplier.

Money Multiplier = 1 / RR.

Therefore banking systems can increase the volume of loans by $50,000

To know more about bank reserves. click the given links.

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4 0
2 years ago
Commercial Construction, Inc. (CCI), contracts to build a store for Rita's Pizza Company with Rita's payment due on June 1. On J
krek1111 [17]

Answer:

The correct option is B, Rita's is in breach of contract.

Explanation:

Breach of contract occurs when a party or parties to a legally binding and enforceable agreement refuse to discharge their duties as stipulated in the contract.

Even though Rita's inability to pay as at when due was not intentional as Rita's bank had closed, the onus is still on the company to fulfill its obligation.

It is important that both parties find an amicable way to enforce the terms of the contract or Commercial Construction ,Inc (CCI) tries recover financial damages caused to it by the breach or in an extreme situation, they settle for lawsuit.

6 0
4 years ago
Read 2 more answers
Fill in the blanks with the words given below.
ella [17]

Answer:

1. Benign tumor.

2. Malignant tumor.

3. Metastasis.

4. Cancer

5. Carcinoma

Explanation:

A tissue can be defined as a group of cells that are structurally similar and in close proximity. Tissues are generally responsible for performing specific functions in living organisms such as humans, animals and plants. Therefore, tissues in living organisms function together as a unit.

A tumor can be defined as an abnormal mass of tissue formed when various body cells grow and divide more than its required or fail to when necessary (required). Thus, it usually degenerate into cancerous growths (cancer).

Some of the characteristics and features of tumors and cancer include the following;

1. A benign tumor is a lump of abnormal cells that, although growing out of control, remains at its original site.

2. A malignant tumor is an abnormally growing mass of cells that is actively spreading through the body.

3. A metastasis is the spread of cancer cells from their site of origin to other sites in the body.

4. An individual with a malignant tumor is said to have cancer.

5. The most common type of cancer is a carcinoma this type always originates in tissues that line.

4 0
3 years ago
Mayan Company had net income of $32,830. The weighted-average common shares outstanding were 9,800. The company has no preferred
Aleks04 [339]

Answer:

If the company has no preferred stock the formula for finding the earning per share of a company is to divide net income by the average common shares outstanding. Because by doing this we can find out how much the company earned per share.

EPS= Net income/ Average common shares outstanding.

EPS= 32,830/9800= 3.35

The answer is $3.35 is the earnings per share Mayan Company.

Explanation:

7 0
4 years ago
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