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VARVARA [1.3K]
3 years ago
13

As of June 30, 2018, the bank statement showed an ending balance of $16,216. The unadjusted Cash account balance was $15,119. Th

e following information is available: Deposit in transit, $2,175. Credit memo in bank statement for interest earned in June, $6. Outstanding check, $3,276. Debit memo for service charge, $10. Required Determine the true cash balance by preparing a bank reconciliation as of June 30, 2018, using the preceding information. (Negative amounts should be indicated with minus sign.)
Business
2 answers:
My name is Ann [436]3 years ago
5 0

Answer:

Explanation:

Bank reconciliation

Unadjusted book balance 16,216

Add: Debit memo for service 10

Less: Credit memo for int. earned 6

True cash balance 16,220

Unadjusted book balance 15,119

Add: Outstanding check 3,276

Less: Deposit in transit 2175

True cash balance 16,220

sertanlavr [38]3 years ago
3 0

Answer:

<u>Bank Reconciliation Statement </u>

Balance as per bank statement                   $16,216

Deposit Intransit                                             2,175

less Outstanding check                                <u> 3,276</u>

Balance as per cash book                          <u> 15,112</u>

Explanation:

The true cash balance equal $15,112

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Sigma Corporation owns 80% of the stock of Epsilon Corporation, which pays it a dividend of $100,000. Sigma Corporation also own
kvv77 [185]

Answer:

d. $132,000

Explanation:

Sigma Corporation holds the stock of Epsilon Corporation and is subsidiary for the Sigma. The dividend declared by of $100,000 is entirely for the sigma whereas Sigma Corporation also holds 20% of the shares of Intergalactic Corporation. The dividend of $40,000 will be calculated in the dividend amount of Sigma but 20% will be deducted.

$100,000 + $40,000 * 80% = $132,000

6 0
3 years ago
Nadell Corporation reported the following data for the month of AprilInventory Beginning Ending Raw Materials $30,000 $32,000 Wo
jeyben [28]

Answer:

COGS= $181,000

Explanation:

Giving the following information:

Beginning Finished Goods= $39,000

Ending Finished Goods= $53,000

Cost of goods manufactured= 234,000 - 39,000= $195,000

<u>To calculate the cost of goods sold, we need to use the following formula:</u>

COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory

COGS= 39,000 + 195,000 - 53,000

COGS= $181,000

7 0
3 years ago
Robinson Manufacturing found the following information in its accounting records: $523,000 of direct materials used, $215,000 of
cupoosta [38]

Answer:

Company’s Cost of Goods Manufactured = $1,506,500

Explanation:

Use following formula to calculate cost of goods manufactured

Cost of Goods Manufacture = Direct Material cost + Direct labor cost + Manufacturing overhead + Work in process beginning balance - Work in process Ending balance

Cost of Goods Manufacture = $523,000 + $215,000 + $774,500 + $78,000 - $84,000

Cost of Goods Manufacture = $1,506,500

3 0
3 years ago
The management at Climate Action Development needs to recruit campaign managers for its Renewable Energy Project. They are looki
Rzqust [24]

Answer: (E) Personality

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By evaluating the personality of the individual person we can judge there ability and understand their characteristics.

It is also known as the personality psychology for evaluating the characteristics of the person for recruiting the right candidate for the specific profile by testing the individual person personality factor.  

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5 0
3 years ago
Many small businesses choose to outsource their payroll activities to firms that specialize in providing payroll services. Dolor
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Answer:

revenue cycle

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Dolores Yu provides a payroll processing business. According to question, service has been rendered and now its time to collect bills for those service.

Since revenue cycle is capturing of bills and payment for product or service rendered. The work mentioned in the problem is part of revenue cycle.

5 0
3 years ago
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