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Reika [66]
3 years ago
10

At March 31, Cummins Co. had a balance in its cash account of $11,400. At the end of March the company determined that it had ou

tstanding checks of $1,325, deposits in transit of $790, a bank service charge of $55, and an NSF check from a customer for $240. The true cash balance at March 31 is:_________
Business
1 answer:
soldier1979 [14.2K]3 years ago
3 0

Answer:

Adjusted Balance  11,105

Explanation:

CASH

Begining Balance 11,400

Service Charge     -55

NSF              <u>     -240    </u>

Adjusted Balance  11,105

To get the ending balance, we adjust for the unknow transactiosn for hte company.

The company knows how many check it write and how much it deposit. So we don't adjust for that

The company's accounting doesn't know the check of acustomer bounce and the amount fo the bank services charge thus, we adjust for that

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List four factor you should consider when selecting a financial institution
DanielleElmas [232]

Answer:

▪︎Products and Services That Fit Your Needs.

▪︎Security for Your Money.

▪︎Convenient Access to Your Cash.

▪︎Minimal Fees.

Explanation:

3 0
2 years ago
You are thinking of investing in Wave Runnerz, Inc. You have only the following information on the firm at year-end 2013: net in
tatuchka [14]

Answer:

8.28%

Explanation:

Given that,

Net income = $10 million

Total debt = $65 million

Debt ratio = 35 percent

Debt ratio = Total debt ÷ Total assets

35 percent = $65 million ÷ Total assets

Total assets = $65 million ÷ 35 percent

                     = $185,714,286

Wave Runnerz's ROE for 2018:

= Net income ÷ Equity

= $10,000,000 ÷ (Total assets - Debt)

= $10,000,000 ÷ ($185,714,286 - $65,000,000)

=  $10,000,000 ÷ $120,714,286

= 0.0828 or 8.28%

6 0
3 years ago
Several years ago, the City of Russell issued $7 million of 6 percent serial bonds at 101. Principal payments of $350,000 are du
Sphinxa [80]

Answer:

the interest payable is $210,000

Explanation:

The computation of the interest payable is shown below:

= Principal payments × rate of interest × no of months ÷ total no of months × time period

= $350,000 × 6% × 6 months  ÷ 12 month × 20years

=  $210,000

hence, the interest payable is $210,000

The same should be considered and relevant

8 0
3 years ago
You deposit $5000 at end of each year for 10 years. assume you are earning 8.88% per year for the entire problem. after 10 years
yan [13]
I say around 15-25 yrs but really i am not sure just being honest 

8 0
3 years ago
What will you do to run a presentation from a computer on which you did not prepare the presentation, and how?
Nataly_w [17]

Answer:

You can use a drawing software. It usually included without having to download the new one.

Explanation:

Without preparation, you wouldn't have enough time to actually make a good graph or selective image to aid you with the presentation.

One way to handle this is by extending your monitor to a projector and use a drawing program.

The drawing program provide you with the ability to create simple shapes and free-pen tools. So, as you explain your material to the audience, you can draw assisting image to help get your point across. This will be similar to a whieboard that your teacher use to explain material in high school.

That's being said, this method wouldn't be as effective compared to actually making preparation beforehand.

4 0
3 years ago
Read 2 more answers
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