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Norma-Jean [14]
3 years ago
7

A​ company's bank statement balance is $ 3,400 and shows a service charge of $ 12​, interest earned of $ 7​, and an NSF check fo

r $ 240. Deposits in transit total $ 1,000​; outstanding checks are $ 675. The​ company's bookkeeper erroneously recorded a check received from a customer as a $ 145 check when it was actually a $ 120 check. This created a book error of $ 25.
(1) What is the adjusted bank balance?
(2) What was the book balance of cash before the reconciliation?
Business
1 answer:
BigorU [14]3 years ago
7 0

Answer:

a. $3,725

b. $3,945

Explanation:

a. The computation of the adjusted cash balance is shown below:

= Bank statement balance + Deposits in transit - outstanding checks

= $3,400 + $1,000 -  $675

= $3,725

b. The computation of the book balance of cash before the reconciliation is shown below:

= Adjusted cash balance +  service charge + NSF checks - interest earned -  recording error

= $3,725 + $12 + $240 - $7 - $25

= $3,945

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It attracts new customers and gets positive response.
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Determine the effect upon equilibrium price and quantity sold if the following changes occur in a particular market:a. Consumers
gtnhenbr [62]

Answer:

Explanation:

a. Consumer’s income increases and the good is normal. Equilibrium price stays same and quantity will rise

b. The price of a substitute good (in consumption) increases. Equilibrium price stays same and quantity sold will rise

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d. The price of a complement good (in consumption) increases. Equilibrium price rises and quantity sold will decline.

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f. Consumers expect that the price of the good will increase in the near future. Equilibrium price rises and quantity sold will also rise.

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For each of the pair of events indicated below, perform qualitative analysis to predict the direction of change in either the equilibrium price or equilibrium quantity. Explain why the change is indeterminate.

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3 0
3 years ago
Suppose all of the major computer manufacturers announced that beginning next month there would be major price reductions on the
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Answer:

The correct answer is "decrease".

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Have a nice day!

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Answer:

$35,010,000

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Therefore the proper cash flow amount to use as the initial investment in fixed assets when evaluating this project is $35,010,000

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