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3 years ago

18. EX.08-160

Business

1 answer:

Likurg_2 [28]3 years ago

3 0

Answer:

Bank reconciliation statement = $4,995

Explanation:

Miller Corporation

Bank Reconciliation Statement

August 31, 20XX

Cash balance according to bank statement $4,690

Add: Deposit in-transits $1,020

Less: Outstanding checks <u> $ (715) </u>

Adjusted balance as per bank statement $4,995

Cash balance according to company's book $5,080

Less: Error in supplies recording $(72 - 27) $ (45)

Bank service charge <u> $ (40)</u>

Adjusted balance as per company's cash book $4,995

Note: Deposit in-transit is added because the bank has already added the amount and the company does not know that, while bank deducts the outstanding checks as they are overdue.

Again, as the service charge and error in supplies are already deducted from the bank without informing the company, the company has to deduct those from cash book.

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Answer:

A. predictive validity.

Explanation:

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3 years ago

An asset has an average return of 10.94 percent and a standard deviation of 20.98 percent. What range of returns should you expe

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If the standard deviation is 20.98%. The range you should expect to see with a 95 percent probability is: -31.02 percent to +52.9 percent.

<h3>Expected range of return </h3>

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2 years ago

At the end of the current year, Accounts Receivable has a balance of $675,000; Allowance for Doubtful Accounts has a debit balan

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Answer and Explanation:

The computation is shown below:

The amount of the adjusting entry for bad debt expense should be

= $45,000 + $5,400

= $50,400

The journal entry should be

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To Allowance for Doubtful Accounts Cr. 50,400

(Being the bad debt expense is recorded)

Accounts Receivable 675,000

Allowance for Doubtful Accounts 45,000

Bad Debt Expense 50,400

Accounts Receivable 675,000

Less: Allowance for Doubtful Accounts (45,000)

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3 years ago

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Answer:

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Explanation:

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3 years ago

Read 2 more answers

Kijijo Auctions runs an online auction company. Its end-of-year financial statements indicate the following results. Total asset

katrin [286]

Answer:

40%

Explanation:

Total assets. $240,000

Less total liabilities ($130,000)

$110,000

Less common stock ($24,000)

Retained earnings at end $86,0000

Less Retained earnings at the beginning ($29,000)

Addition to retained earnings $57,000

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4 years ago