1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nata0808 [166]
3 years ago
8

Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of b

usiness on May 31, its Cash account shows a debit balance of $28,525. Clayborn's May bank statement shows $25,000 on deposit in the bank. Determine the adjusted cash balance using the following information:Deposit in transit $5,200Outstanding checks $4,600Bank service fees, not yet recorded by company $25A NSF check from a customer, not yet recorded by the company $600Required:What should be the adjusted cash balance?
Business
1 answer:
Aleks04 [339]3 years ago
7 0

Answer:

$27,900

Explanation:

The computation of adjusted cash balance is shown below:-

Adjusted cash balance = Balance at May 31 - bank service fees - NSF check

= $28,525 - $25 - $600

= $27,900

Therefore for computing the adjusted cash balance we simply deduct the bank service fee and NSF check from balance at may 31

Hence, the adjusted cash balance is $27,900

You might be interested in
quilibrium in the money market exists when a. excess demand for money is equal to the quantity demanded of money at a given inte
Elanso [62]

Answer: b. excess supply of money is equal to the quantity demanded of money at a given interest rate.

Explanation:

Equilibrium in the money market takes is usually achieved when the quantity of money demanded is equal to the quantity supplied. The demand curve for money is used to illustrate the quantity of money demanded at a given interest rate. The demand curve for money usually sloped downward, what this tells us is that people would want to hold less of their wealth in the form of physical cash ( money ). When the interest rates on bonds and other alternative investments are way higher.

3 0
3 years ago
If a small electric automobile manufacturer is able to gain the social return generated by its electric motor, its demand for fi
Law Incorporation [45]

Answer: shift to the left

Explanation:

The social return helps in comparing the value of benefits and the costs to achieving the benefits. The social return is the ratio of net present value of the benefits in comparison to the net present value of the investment or the costs to getting the benefits.

In this case, if a small electric automobile manufacturer is able to gain the social return generated by its electric motor, it would decrease the demand for financial capital which simply means that the demand for financial capital will shift to the left. This shift to the left is as a result of the gain in its social return gotten by the electric motor.

5 0
3 years ago
A disadvantage of the corporate form of business entity is
lapo4ka [179]

Answer:

A disadvantage of the corporate form of business entity is corporations are subject to more governmental regulations.

3 0
3 years ago
Q 9.26: Crawford Trucking plans to dispose of two trucks in 2018. They sell the first truck on January 2 and the second truck on
deff fn [24]

Answer:

Crawford Trucking

Calculation of book value for disposal of two vehicles:

a) The Truck sold on January 2 would not have depreciation expenses computed for it.  The book value on January 1 would be the same on January 2.  It is not practical to compute depreciation expense for 1 day.

b) The Truck sold on July 9 would have depreciation computed for the year 2018 pro rated for six months.  The book value would be less than the Truck sold on January 2.

Explanation:

Depreciation expense may be pro rated depending on the prevailing circumstances.  This becomes necessary because the sold unit may not be fully utilized for the period under review.  Under the matching principle of generally accepted accounting principles, it is imperative to match revenue to the period they were incurred.

5 0
3 years ago
Old Spanish-type houses in have huge high-pitched roo​
kifflom [539]
Sorry, what does this mean?
3 0
2 years ago
Read 2 more answers
Other questions:
  • Economic growth in China has led to more Chinese people owning cars, which: increased demand for oil but decreased supply, causi
    13·1 answer
  • The set of marketing tools a firm uses to implement its marketing strategy is called the ________.
    11·1 answer
  • he Alford Group had 220,000 shares of common stock outstanding at January 1, 2018. The following activities affected common shar
    6·1 answer
  • Saira, Inc. has the following income statement (in millions): SAIRA, INC. Income Statement For the Year Ended December 31, 2017,
    10·1 answer
  • The risk free rate of return is 2.5% and the market risk premium is 8%. Rogue Transport has a beta of 2.2 and a standard deviati
    6·1 answer
  • g If it is difficult to substitute for a good in the short run, but easy in the long run, then _____ . Group of answer choices t
    7·1 answer
  • It is recommended that no more than three different fonts be used when creating a power point presentation.
    11·2 answers
  • On April 1st, Bob the Builder entered into a contract of one-month duration to build a barn for Nolan. Bob is guaranteed to rece
    11·1 answer
  • If a rise in incomes is the same proportion for both low-income and high-income workers, then poverty will rise and inequality w
    12·1 answer
  • exercise 1-1 (algo) classifying activities reflected in the accounting system lo c1 select the aspect of accounting associated w
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!