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Aleonysh [2.5K]
3 years ago
12

Mia Wong's checking account had a balance of $3,100.55 on July 1. After looking at her bank statement, she noticed an NSF for $6

0.50, a service charge of $12.55, and a note collected for $600. There was one deposit in transit for $400 and no checks outstanding. What is the reconciled checkbook balance?
Business
1 answer:
MaRussiya [10]3 years ago
4 0
Given:
Checking account balance:  3,100.55
Add: note collected                      600
deduct:
NSF                      60.50
service charge: 12.55           <u>    (73.05)</u>
reconciled checkbook bal.    3,627.50

The deposit in transit for 400 was already included in the 3,100.55 balance. That is why it is not included in the reconciliation.
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Benson Company produces flash drives for computers which have variable costs of $10 per flash drive to produce. Each flash drive
Leno4ka [110]

Answer:

It increases by 50 units.

Explanation:

Current break even point = \frac{Fixed\:Cost}{Contribution\:per\:unit}

Here, fixed cost = $4,500

Contribution per unit = Selling price - Variable Cost = $20 - $10 = $10

Current break even point = \frac{4,500}{10} = 450 units

If variable cost increase by 10% then revised variable cost = $10 + 10% = $11

Contribution per unit = $20 - $11 = $9 per unit

Break even sales in units = \frac{4,500}{9} = 500 units

Difference in original and revised break even = Revised - Original = 500 - 450 units = 50 units,

Thus original break even increases by 50 units, = 50/450 = 11.11% increase.

Final Answer

It increases by 50 units.

6 0
2 years ago
Arundel Company uses aging to estimate uncollectibles. At the end of the fiscal year, December 31, 2018, Accounts Receivable has
Ipatiy [6.2K]

Answer:

After the adjusting entry is made, Allowance for Doubtful Accounts balance is a credit balance of $22,290

Explanation:

Arundel Company uses aging to estimate uncollectibles.

Estimated uncollectibles = $250,000 x ( 1 - 99.5%) + $70,000 x (1 - 91%) + $30,000 x (1 - 73%) + $8,000 x (1 - 17%) = $1250 + $6,300 + $8,100 + $6,640 = $22,290

The current unadjusted Allowance for Uncollectible Accounts balance is a debit balance of $2,000.

Bad debt Expense = $22,290 + $2,000 = $24,290

The adjusting entry:

Debit Bad debt Expense $24,290

Credit Allowance for Doubtful Accounts $24,290

After the adjusting entry is made, Allowance for Doubtful Accounts balance is a credit balance of $22,290

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3 years ago
9. Should all poetry, music or art be beautiful? Explain.
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The following information pertains to Lap Co.'s Palo Division for the month of April: Number of Units Cost of Materials Beginnin
Free_Kalibri [48]

Answer:

$0.44

Explanation:

Given that,

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Using the weighted-average method,

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3 years ago
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