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
Ghella [55]
3 years ago
12

Enclosed with the bank statement received by Matthew Company at August 31 was an NSF check for $2,012. No entry has yet been mad

e by the company to reflect the bank's action in charging back the NSF check. During preparation of the bank reconciliation, the NSF check should be:
a. Added to the balance per the depositor's records
b. Deducted from the balance per the depositor's records
c. Deducted from the balance per the bank statement
d. Added to the balance per the bank statement
e. None of the above
Business
1 answer:
mrs_skeptik [129]3 years ago
3 0

Answer:

b. Deducted from the balance per the depositor's records

Explanation:

As while preparing the bank reconciliation statements, there are the items that are added and deducted  in the company book accounts and the bank book accounts

So in the given case, since the NSF check should be deducted from the depositor records or the company records as this derives that the check is returned by the bank but the same is not recorded in the company books so to balance the bank reconciliation statement we deduct it from the company books

You might be interested in
Builtrite's upper management has been comparing their books to industry standards and came up with the following question: Why i
Vesna [10]

Answer:

Builtrite has higher than average operating expenses

Explanation:

Subtracting cost of goods sold from net sales will give you gross profit. The reason of high gross profit could be company is able to sell its products at a higher price or it is able to keep its cost of goods sold at a lower level than industry standards.

A higher-than-industry-average gross profit margin increases your chances of generating a net profit provided that you are able to keep your expenses within industry average levels.

Operating profit is the pre-tax profit or in other words it is calculated by subtracting operating expenses from the gross profit. Operating profit margin is equal to operating income divided by the total revenue. A lower operating margin despite of having higher gross profit is because the company is not able to control its operating expenses or in other words they are incurring higher operating expenses as compare to industry.

4 0
3 years ago
Carla Vista Energy Company owns several gas stations. Management is looking to open a new station in the western suburbs of Balt
tatuchka [14]

Answer:

The present Value of the growing annuity= $1,158,092.68  

Explanation:

The present value of the growing annuity is going to be computed as follows:

PV = A/(r-g) × (1- (1+g/1+r)^n)

A- annual cash flow- $87,460

g- growth rate - 6.3%

n- number of years =73

r- discount rate - 13.8%

I will break out the formula into two parts to make the workings very clear to follow. So applying this formula, we can work out the present value of the growing annuity  as follows.  

A/(r-g)  = 87,460/(0.138-0.063) =1,166,133.33

(1- (1+g/1+r)^n)  = 1- (1.063/1.138)^73 =0.9931

PV = A/(r-g) × (1- (1+g/1+r)^n)

166,133.33× 0.9931 =  1,158,092.68  

The present Value of the growing annuity= $1,158,092.68  

6 0
3 years ago
A Golf company detemined that the budgeted cost of producing a product is $30 per unit. On June 1, there were 60,000 units on ha
iogann1982 [59]

Answer:

Budgeted cost of goods sold = $7,650,000

Explanation:

Computation table for budgeted cost of goods sold

<u>Particular                                          Amount </u>

Total Sales                                 225,000

Add: Desired stock in hand         90,000

<u>Less:</u><u> Beginning stock             60,000   </u>

<u>Budgeted production                 255,000 </u>

Budgeted cost of goods sold = 255,000 x $30

Budgeted cost of goods sold = $7,650,000

6 0
2 years ago
Evergreen Corporation distributes land with a fair market value of $200,000 to its sole shareholder. Evergreen's tax basis in th
Lady_Fox [76]

Answer:

True

Explanation:

As for calculating the gain or loss on distribution of any asset, in any case the company shall consider the fair market value at the time of distribution, and accordingly, the gain or loss shall be:

Fair market value - Tax basis of such asset.

Here, in the given instance

Fair market value of land = $200,000

Tax basis of land = $50,000

Thus, gain on distribution = $200,000 - $50,000 = $150,000

This will not be different in any case, whether the earnings are positive or negative.

Therefore, the statement is True

4 0
3 years ago
If I invest $1000 in company A, there's a 40% chance I'll double my money, and a 60% chance I'll lose half my money. Those are t
Tju [1.3M]

The expected monetary value of the investment of $1,000 in Company A is $800.

Data and Calculations:

Cost of investment in Company A = $1,000

Probability of doubling investment = 40%

Probability of losing investment = 60%

Expected monetary value of investment = $800 ($2,000 x 40% + $0 x 60%)

Thus, the expected monetary value of the investment is $800.

Learn more: brainly.com/question/13905997

8 0
2 years ago
Other questions:
  • More than ________ percent of those holding patents win their infringement suits.
    6·1 answer
  • g the following population and employment data for the United States (2000–2016), answer three questions. Instructions: Enter yo
    5·1 answer
  • Of the following factors affect economic growth? a. land c. labor b. capital d. all of the above
    7·1 answer
  • Which of the following is a characteristic of a monopolistically competitive market? I. Each firm is a price-taker. II. Firms se
    8·1 answer
  • Otis Thorpe Corporation has 10,000 shares of $100 par value, 8% preferred stock and 50,000 shares of $10 par value common stock
    15·1 answer
  • Select two ways of becoming a business owner. compare the advantages and disadvantages and decide which of the two you would pre
    5·2 answers
  • What action involves reconfiguring or redesigning work, jobs, and processes for the purpose of improving cost, quality, service,
    14·1 answer
  • How to get a refund on Brainly
    7·2 answers
  • Many market participants believe that sell-side analysts are too optimistic in their recommendations to buy stocks, and too slow
    11·1 answer
  • A first step toward understanding organizational markets is recognizing the differences between industrial, reseller, and govern
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!