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GaryK [48]
3 years ago
5

The cash account shows a balance of $42,000 before reconciliation. The bank statement does not include a deposit of $9,200 made

on the last day of the month. The bank statement shows a collection by the bank of $4,960 and a customer’s check for $1,100 was returned because it was NSF. A customer’s check for $1,380 was recorded on the books as $1,830, and a check written for $318 was recorded as $381. The correct balance in the cash account was
Business
1 answer:
Keith_Richards [23]3 years ago
8 0

Answer:

$45,473

Explanation:

Base on the scenario been described in the question, we can use this method to solve the problem.

Solution:

$42,000 + $4,960 – $1,100 – ($1,830 – $1,380) + ($381 – $318)

= $46,960- $,1,100-$450-$63

=$45,473

As our answer

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You decide to take $600 out of your piggy bank at home and place it in the bank. If the reserve requirement is 2 percent, how mu
Ostrovityanka [42]
To determine the increase in the amount of money in the economy brought about the $600 taken out of the piggy bank, we multiply $600 by the decimal equivalent of the percentage given. That is,
                                  ($600) x (0.02) = $12
Hence, your $600 will increase the amount of money in the economy by $12. 
3 0
3 years ago
Orange Inc., an orange juice producer with a current debt-to-equity ratio of 2, is considering expanding its operations to produ
postnew [5]

Answer:

8.25%

Explanation:

Orange, Inc. should calculate the MARR (minimum acceptable rate of return) for this project using the following:

Re = 12% (similar to Paste, Inc., so it can be considered the industry's average)

Rd = 6% x (1 - 25%) = 4.5%

MARR = (1/2 x 12%) + (1/2 x 4.5%) = 6% + 2.25% = 8.25%

This calculation is similar to calculating a company's WACC since you must determine the weighted cost of financing the project.

6 0
4 years ago
In his book The Optimum Quantity of Money​, Milton Friedman talks about a helicopter dropping​ $2,000 over a community. The cash
Pepsi [2]

Answer:

A) Somewhat​ effective, but only to the extent that most of the tax cut is concurrently spent on domestic​ output, that multiplier effects​ occur, and crowding out is small.

Explanation:

First of all, the larger amount of money would increase the inflation rate since aggregate supply hasn't increased. The number of goods and services offered do not vary, then only thing that varies is the amount of disposable money.

The larger the multiplier, the larger the positive effect. The multiplier formula = 1 / MPS (marginal propensity to save). Even though inflation increases, still the economy is going to grow. That unless the local residents decide to purchase many imported goods. The larger the amount of imported goods purchased, the lower the positive effects.

This type of policy can be very effective under conditions where deflation or inflation rates are near 0 or even negative. Although high inflation is very bad for the economy, a small amount of inflation is always needed to boost economic growth. The healthy inflation is around 1.5 - 2% per year. This way salaries and wages can grow, pushing aggregate demand and supply.

5 0
4 years ago
find the selling price per pound of a coffee mixture made from 8 pounds of coffee that sells fo $9.20 per pound and 12 pounds of
elena-14-01-66 [18.8K]

Answer:

$6.98 per pound

Explanation:

The computation of the selling price per pound is shown below:

As we know that

8 pounds of coffee sells for $9.20 per pound which equal to

= 8 pounds × $9.20 per pound

= $73.6

And, 12 pounds of coffee is for $5.50 per pound which equal to

= 12 pounds × $5.50 per pound

= $66

The total value would be

= $73.6 + $66

= $139.60

And, the total number of pounds would be

= 8 pound + 12 pound

= 20 pounds

And we assume the selling price per pound be X

So, the equation would be

$139.60 = 20 pounds × X

So, X would be

= $139.60 ÷ 20 pounds

= $6.98 per pound

4 0
3 years ago
Item1 1 points eBookPrintReferences Check my work Check My Work button is now enabledItem 1Item 1 1 points Assume the perpetual
artcher [175]

Answer:

$11,510

Explanation:

Calculation for the gross margin amount from the four transactions

First is to find the Cost of goods sold

Cost of goods sold = ($13,900 - $3,400) × (100%-2%)

Cost of goods sold=$10,500*0.98

Cost of goods sold=$10,290

Last step is to find the gross margin amount using this formula

Gross margin amount=Sales revenue - Cost of goods sold

Let plug in the formula

Gross margin amount=$21,800-$10,290

Gross margin amount=$11,510

Therefore the gross margin amount from the four transactions will be $11,510

3 0
4 years ago
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