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Anuta_ua [19.1K]
3 years ago
14

A company's Cash account shows an ending balance of $4,600. Reconciling items included a bookkeeper error of $130 (a $500 check

recorded as $630), two outstanding checks totaling $830, a service charge of $25, a deposit in transit of $250, and interest revenue of $30. What is the adjusted book balance?
A. $5,180
B, $4,020
C. $4,465
D. $4,735
Business
1 answer:
alexgriva [62]3 years ago
7 0

Answer:

The answer is D. $4,735

Explanation:

Please find the below for detailed calculation and explanations:

The adjusted book balance = Ending balance of cash account + Bookkeeper error - Service charge + Revenue = 4,600 + 130 - 25 + 30 = $4,735

The reason why outstanding checks and deposit in transit are ignored is they were already recorded in accounting book at the time the transactions took place, thus, the book balance has not been wrongly recorded.

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4 0
3 years ago
Cindy invests $3000 in a bond trust that pays 8% interest compounded semiannually. Her friend, Jimmy, invests $3000 in a certifi
Elanso [62]

Answer:

Cindy has more amount than Jimmy.

Explanation:

Amount invested by Cindy P = $3000

Annual rate of interest = 8%

As the amount is compounded semiannually

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So amount own by Cindy A=P(1+\frac{r}{100})^n

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Amount deposit by jimmy P = $3000

Annual rate of interest = 7.75 %

As the amount is compounded monthly

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Time period = 20×12 = 240

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4 0
3 years ago
Firms that are _______ recognize that including a strong social orientation in business is a sound strategy that is in the best
ruslelena [56]

Answer:

Socially responsible

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The term social responsibility refers to give back to the society in which its operates. A firm being socially responsible means that it has an obligation to act for the benefit of society at large.

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3 years ago
Sally wanted to replace the old carpet in her home. She entered into a contract with Good Carpet Co. for the purchase and instal
Olin [163]

Answer:

B)  The contract rules of the UCC apply, because the predominant purpose of the contract was sale of goods.

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