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3 years ago

In the process of reconciling its bank statement for April, Donahue Enterprises' accountant compiles the following information:

Business

1 answer:

QveST [7]3 years ago

3 0

Answer:

Option (B) is correct.

Explanation:

Adjusted cash balance as per books:

= Cash balance per company books on April - Bank charge for printing new checks + Note receivable and interest collected by bank on Donahue’s behalf - A check paid to Donahue during the month by a customer is returned by the bank as NSF

= $6,185 - $135 + $590 - $660

= $5980

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3 years ago

Sparks Corporation has a cash balance of $15,300 on April 1. The company must maintain a minimum cash balance of $12,500. During

Tcecarenko [31]

Answer:

A. Cash borrow = $7,700

Explanation:

Given,

The company must maintain a minimum cash balance of $12,500.

We know,

Ending cash balance = Beginning cash balance + Cash receipts - Cash disbursements + Cash borrow

Given,

Ending cash balance = $12,500

Beginning cash balance = $15,300

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Putting the values into the formula, we can get

$12,500 = $15,300 + $61,000 - $71,500 + Cash borrow

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Or, $12,500 - $15,300 - $61,000 + $71,500 = Cash borrow

Or, $84,000 - $76,300 = Cash borrow

Or, $7,700 = Cash borrow

Or, Cash borrow = $7,700.

Therefore, Option A is the answer.

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4 years ago

You are working for a new company that is primarily an internet-based seller of goods whose business model is similar to eBay's.

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2 years ago

John's debit card was stolen on Wednesday and used to purchase $700 worth of merchandise. John notified his financial institutio

Verizon [17]

Answer:

The liability of John is $50.

Explanation:

When the ATM, credit, or debit cards of a customer are stolen or lost, both the Fair Credit Billing Act (FCBA) and the Electronic Fund Transfer Act (EFTA) come into action to give protection to the customer.

Specifically, if the credit or debit card is stolen or lost, the FCBA provides that maximum amount of liability that the customer will bear for any unauthorized use is $50.

The EFTA provides that if the stolen card is reported within 2 business days, the maximum liability for any authorised transaction is $50.

Therefore, since John notified his financial institution on Thursday which is still within 2 business days, his liability is still $50 based on the provisions of the EFTA and also the FCBA.

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3 years ago

George has been successfully running a large retail store in his neighborhood for almost 15 years. However, George realizes that

Eduardwww [97]

Answer:

online auctions

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George can start selling his products online. He needs to create a website where he can showcase all his products and their prices. The websites should be as interactive as possible to allow customers to place orders, make payments, and track deliveries.

Operating online will be of great convenience to George's customers. They do not need to be physically present at George's retail store to make purchases. Customers can shop at a place and time convenient to them.

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3 years ago