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3 years ago

Determining the true cash balance, starting with the unadjusted book balance

Business

1 answer:

Law Incorporation [45]3 years ago

3 0

Answer:

True Cash Balance $7,688

Explanation:

The computation of the true cash balance is shown below:

Unadjusted Cash Balance as of May 31 $7,176

Add: Interest Earned $14

Note Collected by Bank $600

Less: NSF check ($67)

Less Bank charges ($35)

True Cash Balance $7,688

Hence, the true cash balance is $7,688 and the same is to be considered

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Which choice BEST describes what might happen to unemployment rates, if minimum wage laws were repealed?

Ivenika [448]

Answer:

the short term, unemployment rates would drop drastically.

8 0

3 years ago

Read 2 more answers

On January 1, 2021, Perez Co. issued at par $10,000 of 6% bonds convertible in total into 1,000 shares of Perez's common stock.

marusya05 [52]

Answer:

EPS = $4.50

diluted EPS = $2.46

Explanation:

no option is correct since EPS = $4.50, and the rest of the options are all higher amounts. Diluted EPS are always smaller than EPS.

common stock outstanding = 1,000 stocks

bonds shares (diluted) = 1,000 stocks

net income = $4,500

bond interest = $10,000 x 6% x (1 - 30%) = $420

diluted earnings per share = ($4,500 + $420) / (1,000 shares + 1,000 shares) = $4,920 / 2,000 shares = $2.46

7 0

3 years ago

Bruce Corporation makes four products in a single facility. These products have the following unit product costs: Products A B C

Vitek1552 [10]

Answer:

Bruce Corporation

Minutes of Grinding Machine Time required to satisfy demand for all four products:

Total Grinding Machine Time

Product A = 4.10 minutes * 4,300 demand units = 17,630 minutes

Product B = 5.60 minutes * 4,300 demand units = 24,080 minutes

Product C = 4.60 minutes * 3,300 demand units = 15,180 minutes

Product D = 3.70 minutes * 2,300 demand units = 8,500 minutes

Total = 65,400 minutes

Explanation:

The total minutes of Grinding Machine Time required to satisfy monthly demand for each product is calculated by multiplying the units demanded by the grinding minutes per unit.

This gives total minutes required for each product. Then, when they are summed, the total Grinding Machine Time is obtained.

This total can be compared to the total available minutes per month of 53,900 to obtain the additional minutes required above the minutes available in order to satisfy the products' demands.

8 0

3 years ago

Suppose that you want to create a "college fund" for your newborn child and place $300 in a bank account at the end of each of t

Sever21 [200]

Answer:

Amount at the end of twentieth year is $12,300

Explanation:

Annuity means a set of fixed amount of payments either made to you or paid by you , at a fixed number of times over a course of defined period.

The case given in the question is of ordinary annuity , where fixed amount of payment are required at the end of each period.

FORMULA FOR FUTURE VALUE ORDINARY ANNUITY =

Where, C(cash flow) = $300,

I(interest rate) = 7%

N(number of period) = 20

FV ( Future value)

$FUTURE\ VALUE(FV)\ OF\ ORDINARY\ ANNUITY= CASH\ FLOW(C)\times \left [ \frac{1+I^{N}-1}{I} \right ])$

$FUTURE\ VALUE(FV)\ OF\ ORDINARY\ ANNUITY= \$300\times \left [ \frac{1+7\%^{20}-1}{7\%} \right ])$

$FUTURE\ VALUE(FV)\ OF\ ORDINARY\ ANNUITY= \$300\times \left [ \frac{\ 1.07\ ^{20}-1}{7\%} \right ])$

$FUTURE\ VALUE(FV)\ OF\ ORDINARY\ ANNUITY= \$300\times \left [ \frac{\ 3.87\ -1}{7\%} \right ])$

$FUTURE\ VALUE(FV)\ OF\ ORDINARY\ ANNUITY= \$300\times \left [ \frac{\ 2.87}{7\%} \right ])$

= 861/7%

= $12,300

8 0

3 years ago

Which of the following is true if the volume of sales increases (within a relevant range)? A. total fixed cost increases B. to

Firdavs [7]

Answer:

C. total variable cost increases

Explanation:

Fixed cost, as the name states, do not change with a variation on production output, therefore an increase in the sales volume does not change the fixed cost. Meanwhile, variable cost is the cost associated with the production of each unit, and thus depends on the sales volume. An increase in the volume of sales leads to an increase in total variable cost.

Therefore, the answer is C.

4 0

3 years ago