Which answer best describes an unsubsidized federal loan?

Joe Donney operates a roller skating center. He has just received the monthly bank statement at August 31 from Citizens National

dlinn [17]

Answer:

Donney actually have $1,577 at August 31, 2014

Explanation:

Prepare a Bank reconciliation to determine the accuracy of the Cash Balance using the following steps

Step 1

Update the Cash Book (Bank Column) Balance

Cash Book (Bank Column)

Debit :

Balance as at August 31 $1,620

Rent collection $375

Total $1,995

Credit :

Service charge $9

Dishonored Checks $137

Printing Charge $20

Error : Understatement $252

Balance as per updated CB $1,577

Total $1,995

Step 2

Prepare a Bank Reconciliation Statement

Bank Reconciliation Statement as at August 31

Balance at Bank as per updated Cash Book $1,577

Add Unpresented Checks $756

Less Lodgements not yet credited ($1,695)

Balance as per Bank Statement $638

Conclusion :

Now that we have reconciled the Updated Cash Balance of $1,577 to the Bank Statement we can safely say Donney actually has $1,577 cash at August 31, 2014.

3 0

3 years ago

Panner, Inc., owns 35 percent of Watkins and applies the equity method. During the current year, Panner buys inventory costing $

ziro4ka [17]

Answer: $2289

Explanation:

First, we have to calculate the gross percentage which would be:

= (Revenue - Cost of goods sold) Revenue

= ($124000 - $86800) / $$124000

= 30%

Therefore, the amount of gross profit must Panner defer in reporting this investment using the equity method would be:

= ($21800 × 30%) × 35%

= $21800 × 0.3 × 0.35

= $2289

6 0

3 years ago

A decrease in the price of domestically produced industrial robots will be reflected in a. both the GDP deflator and the consume

andrezito [222]

Answer:

The correct answer is option c.

Explanation:

A consumer price index measures the change in the price level of weighted average of a basket of goods and services purchased by the consumers.

GDP deflator measures the change in the price of all domestically produced goods and services.

A change in the price of domestically produced industrial robots will be included in the GDP deflator as it includes the prices of all domestically produced goods and services.

But it will not be included in the CPI as the industrial robots are not purchased by consumers in households, they are not consumer goods.

8 0

4 years ago

One approach to organization is putting activities that are similar under one person. ________ called this ""unity of direction.

IgorLugansk [536]

Answer:

Explanation:

One approach to organization is putting activities that are similar under one person. Fayol called this ""unity of direction."" . Fayol was the first person who outlined the functions of management. He has fourteen principles of management; Unity of directions is one of the principle which narrates that One boss, one plan for a group, of activities having the same objective. As unity of direction principle, it leads all the members of the organization towards a common goal to achieve its objective.

5 0

3 years ago

A portfolio consists of $13,400 in Stock M and $18,900 invested in Stock N. The expected return on these stocks is 8.50 percent

Aneli [31]

Answer:

The expected return on the portfolio is:

10.31% ($3,331.40)

Explanation:

a) Data and Calculations:

Portfolio investments: Expected Returns % Expected Returns $

Stock M = $13,400 8.50% $1,139

Stock N = $18,900 11.60% $2,192.40

Total $32,300 10.31% $3,331.40

Total expected returns in percentage is Expected Returns $/Total Investments * 100

= $3,331.40/$32,300 * 100

= 10.31%

b) The expected returns on the portfolio is derived by calculating the expected returns for each investment and summing up. Then dividing the expected portfolio returns by the portfolio investment. This yields 10.31% percentage value.

3 0

3 years ago