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4 years ago

During a bank reconciliation process:

Business

1 answer:

ad-work [718]4 years ago

7 0

Answer:

d.outstanding checks are subtracted and deposits in transit are added to the bank statement balance

explanation:

The goal for the bank reconciliaiton is to adjust for the unknow information:

the outstanidng check are unkins information for the bank which, decreases the bank account balance thus, we need to decrease them

The deposit in transit are also information unknow for the bank Thus, we have to increase the bank balance as this deposits once completed will increase the balance.

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If Pratt Company issues 5,000 shares of $5 par value common stock for $210,000, the accounta. Common Stock will be credited for

antiseptic1488 [7]

Answer:

d. Cash will be debited for $210,000.

Explanation:

The journal entry for the issue of shares is shown below:

Cash A/c Dr $210,000

To common stock (5,000 shares × $5) = $25,000

To Paid-in Capital in Excess of Par Value $185,000

(Being issue of shares recorded)

So, the cash account is debited whereas the common stock and paid-in capital should be credited

And, the remaining balance should be transferred to the Paid-in Capital in Excess of Par Value

5 0

3 years ago

The table below reports the total population in a country and the number of people in different groups as below:Total population

weqwewe [10]

The unemployment rate in this population is 12%

First of all we have to find the total labour force in this country

Children less than 18 + people in the military + people in jail + retirees + marginally attached workers + full time students

= 50million + 15million + 30 million + 10 million + 30 million + 20

= 155 million

Labor force = 280million - 155 million

= 125 million

In this population those working full time and part time are the number of those that are employed.

= 30 million + 80 million

= 110 million

The unemployed = 125 million - 110 million

= 15million

The unemployment rate =

$\frac{Unemployed}{LaborForce} \\=\frac{15}{125}$

= 0.12

The unemployment rate = 12%

5 0

3 years ago

Data for a Poisson with mean 10 A BigJet flight from Philadelphia to Boston has 60 seats. The high fare is $400 and the low fare

barxatty [35]

Answer:

Consider the following calculations

Explanation:

Co = low fare = $ 100

Cu = high fare - low fare = 400 - 100 = $ 300

Critical ratio = Cu/(Cu+Co) = 300/(300+100) = 0.75

In the table, look for F(q) >= 0.75 , that value is 0.792 and corresponding value of q = 12. Therefore,

Optimal protection level = 12

Refer the table for q=12, Expected shortage, L(q) = 0.5

Expected high fare seats to be sold = Mean demand - Expected shortage = 10-0.5 = 9.5

Probability of a full flight = 0.792

6 0

4 years ago

Edelman Engines has $11 billion in total assets. Its balance sheet shows $1.1 billion in current liabilities, $7.7 billion in lo

otez555 [7]

Answer:

10.23x

Explanation:

Market/Book Ratio = Stock Price / Net Book Value per Share

Stock Price = $25 per share

Net Book Value per Share = Net Book Value / shares of common stock outstanding

Shares of common stock outstanding = 900 million shares

where;

Total Assets = $11 billion

Total Liabilities = Current Liabilities + Long-Term Liabilities

Total Liabilities = $1.1 billion + $7.7 billion

Total Liabilities = $8.8 billion

Hence;

Net Book Value = Total Assets - Total Liabilities

Net Book Value = $11 billion - $8.8 billion

Net Book Value = $2.2 billion

Therefore;

Net Book Value per Share = Net Book Value / shares of common stock outstanding

Net Book Value per Share = $2.2 billion / 900 million shares

Net Book Value per Share = $2,200,000,000 / 900,000,000 shares

Net Book Value per Share = $2.44 per share

So;

Market/Book Ratio = Stock Price / Net Book Value per Share

Market/Book Ratio = $25 per share / $2.44 per share

Market/Book Ratio = 10.23x

It means that Stock is over valued and it has performed well because Market/Book Ratio is greater than 1. So the Stock price is set at higher price in relation to Edelman Engines' Net Book Value, so its Market/Book Ratio is 10.23x.

4 0

4 years ago

The ledger of Marigold Corp. on July 31, 2017, includes the selected accounts below before adjusting entries have been prepared.

k0ka [10]

Answer:

1. July 31

Dr Supplies expense $9,120

Cr Supplies $9,120

2. July 31

Dr Rent expense $900

Cr Prepaid rent $900

3. July 31

Dr Salaries and wages expense $2480

Cr Salaries and wages payable $2480

4. July 31

Dr Depreciation expense $400

Cr Accumulated depreciation - Building $400

5. July 31

Dr Unearned service revenue $3,760

Cr Service revenue $3,760

6. July 31

Dr Miscellaneous expense $1,840

Cr Miscellaneous expense payable $1,840

Explanation:

Preparation of the adjusting entries at July 31 assuming that adjusting entries are made monthly.

1. July 31

Dr Supplies expense $9,120

Cr Supplies $9,120

($24,000-$14,880)

(Being To record supplies expense)

2. July 31

Dr Rent expense $900

Cr Prepaid rent $900

(3,600*1/4)

(Being To record rent expense)

3. July 31

Dr Salaries and wages expense $2480

Cr Salaries and wages payable $2480

(Being To record salaries and wages expense)

4. July 31

Dr Depreciation expense $400

Cr Accumulated depreciation - Building $400

($4,800*1/12)

(BeingTo record depreciation expense)

5. July 31

Dr Unearned service revenue $3,760

Cr Service revenue $3,760

(Being To record unearned service revenue)

6. July 31

Dr Miscellaneous expense $1,840

Cr Miscellaneous expense payable $1,840

(Being To record maintenance and repairs expense)

7 0

3 years ago