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Gre4nikov [31]
3 years ago
13

Grant Company gathered the following reconciling information in preparing its July bank reconciliation: Cash balance per books,

7/31 $3,500 Deposits in transit 150 Notes receivable and interest collected by bank 850 Bank charge for check printing 20 Outstanding checks 2,000 NSF check 170 The adjusted cash balance per books on July 31 is a. $4,160. b. $4,010. c. $2,310. d. $2,460.
Business
1 answer:
ddd [48]3 years ago
6 0

Answer:

a. $4,160.

Explanation:

The bank reconciliation is one done between the balance per the books and balance per the bank statement. This is usually as a result of transactions known as reconciling items.

These are items that have either been recognized in books but yet to be recorded by the bank or vice versa, transactions recorded wrongly by one of the parties etc.

The adjusted cash book balance is one that contains the necessary adjustments to transactions captured in the bank statement but yet to be recorded in the books.

The adjusting items are

  • Notes receivable and interest collected by bank 850
  • Bank charge for check printing 20
  • NSF check 170

Hence the adjusted cash balance

= $3500 + $850 - $20 - $170

= $4,160

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OverLord2011 [107]

This is not a good idea as stocks are volatile.

Explanation:

One must never invest a lot of money in only one stock as the stocks are wont to change over time and gain or lose value.

If one wants a long term investment with at least some amount of safety they must be investing in stocks that grow consistently and then to break up the capital in small chunks and then invest them.

All of these can be invested in different shares in the market and then the shares would be more safe.

Even if one or two shares fall the others will be safe.

3 0
3 years ago
A Lexus automobile priced in Japan for export at 3000000 at a time when the exchange rate is 100 now costs $30000 in the United
Bumek [7]

Answer:

  • what will be the new price in the United States

c $33750

Explanation:

Initial Price:

$3,000,000   PRICE  

100           USD Exchange  

$30,000     PRICE USD  

Updated Price:

$3,000,000   PRICE  

80              USD Exchange  

$37,500      PRICE USD  

As the pass through indicates that the exchange rate impact only a 50%, then the final price of the car it's defined as:

$7,500   Exchange Impact

0.50   Pass through  

$3,750   Final Exchange Impact

Initial Price : $30,000

Final Exchange Impact: $3,750

Final Price: $30,000 + $3,750 = $33,750

5 0
3 years ago
Casey Klemons' agreement (BELO plan) with his employer provides for a pay rate of $16.50 per hour with a maximum of 50 hour. How
KatRina [158]

Answer:

$907.50

Explanation:

Calculation for How much would Klemons be paid for a week in which he worked 46 hours

Amount to paid =(10 × 0.5 × $16.50)+(50× $16.50

Amount to paid=$82.50 + $825

Amount to paid=$907.50

Therefore the amount that Klemons should be paid for a week in which he worked 46 hours is $907.50

8 0
3 years ago
Tempo Corp. will issue preferred stock to finance a new artillery line. The firm's existing preferred stock pays a dividend of $
Len [333]

Answer:<u> </u><u><em>Relevant cost of new preferred stock = 10.53%</em></u>

Explanation:

Given:

Dividend = $4.00 per share

Selling for = $40 per share.

Flotation costs =  5% of the selling price.

Marginal tax rate is 30%.

We can compute the cost of new preferred stocks using the following formula:

Relevant\ cost\ of\ new\ preferred\ stock =\frac{ Dividend}{Current\ price\ after\ flotation\ Cost}

Relevant\ cost\ of\ new\ preferred\ stock =\frac{4}{40-(0.05\times40)}

∴ Relevant cost of new preferred stock = 10.53%

Therefore, the correct option is (d)

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3 years ago
How do we affect the economy?
Delvig [45]
human settlement and migration, the gathering of raw materials, and the manufacturing of finished products.
3 0
2 years ago
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