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KiRa [710]
3 years ago
7

Exercise 7-9 (part level submission) don wyatt is unable to reconcile the bank balance at january 31. don's reconciliation is as

follows. cash balance per bank $3,560.20 add: nsf check 490 less: bank service charge 25 adjusted balance per bank $4,025.20 cash balance per books $3,875.20 less: deposits in transit 530 add: outstanding checks 730 adjusted balance per books $4,075.20 collapse question part (a) prepare a correct bank reconciliation. (list items that increase cash balance first. round answers to 2 decimal places,
e.g. 52.75.) don wyatt bank reconciliation january 31 $ : : $ $ : $ $
Business
1 answer:
aleksley [76]3 years ago
7 0
<span>Given: 
cash balance per bank $3,560.20
nsf check 490
bank service charge 25

cash balance per books $3,875.20
deposits in transit 530
outstanding checks 730 

My bank reconciliation:
Cash balance per bank:       3,560.20
Add: deposit in transit             530.00
deduct: outstanding checks <u>   730.00</u>
Adjusted Cash balance:        3,360.20

Cash balance per book:       3,875.20
Deduct: NSF check                 490.00
Deduct: bank service charge <u>    25.00</u>
Adjusted Cash balance         3,360.20


</span>
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An econmic model should capture
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Answer:

* The company’s degree of operating leverage: 1.38;

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* New contribution format income statement:

                                               Engberg Company

                             Contribution format income statement

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Sales                              $176,900                              100%

Variable expenses            70,760                               40%

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