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Elis [28]
3 years ago
11

Roper Electronics received its bank statement for the month of August with an ending balance of $11,740. Roper determined that c

heck #613 for $155 and check #601 for $420 were both outstanding. Also, a $6,900 deposit for August 30 was in transit as of the end of the month. Northern Regional Bank also collected a $5,000 note receivable on August 1 that was issued March 1. Accrued interest is $250. Northern Regional Bank charged a $35 fee for the collection service. The bank statement reveals a bank service charge of $20. A customer check for $68 was returned with the bank statement marked "NSF." The ending balance of the Roper cash account is $12,938.?
Business
1 answer:
lesya [120]3 years ago
6 0

Answer

The answer and procedures of the exercise are attached in a microsoft excel document.  

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in a single sheet with the formulas indications.  

Download xlsx
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The City of Willows is preparing its government-wide financial statements from its fund financial statements. The City records D
brilliants [131]

Answer:

The City of Willows

Reconciliation Entries:

Debit Cash $500

Credit Deferred Revenue $500

To record the increase of deferred revenue.

Debit Compensated Absences Expense $150

Credit Compensated Absences Liability $150

To record the increase of compensated absences.

Explanation:

a) Data and Calculations:

Beginning balances:

Deferred Revenue = $3,500

Compensated Absences Liability  = $1,000

Increases during the year:

Deferred Revenue = $500

Compensated Absences = $150

Reconciliation Entries:

Cash will increase by $500 and Deferred Revenue will increase by $500

Expenses will increase by $150 and Compensated Absences (Liability) will increase by $150.

4 0
3 years ago
An investor purchases a 12-year, $1,000 par value bond that pays semiannual interest of $40. If the semiannual market rate of in
marysya [2.9K]

Answer:

Value of the bond = $862.013

Explanation:

The value of the bond is the present value of the future cash receipts expected from the bond. The value is equal to present values of interest payment and the redemption value (RV).

Value of Bond = PV of interest + PV of RV

The value of the bond can be worked out as follows:

Step 1

<em>Calculate the PV of Interest payment </em>

Present value of the interest payment

PV = Interest payment × (1- (1+r)^(-n))/r

Interest payment = $40

PV = 40 × (1 - (1.05)^(-12×2)/0.05)

= 40 × 13.7986

= 551.945

Step 2

<em>PV of redemption Value </em>

PV of RV = RV × (1+r)^(-n)

= 1000 × (1.05)^(-12×2)

= 310.067

Step 3

<em>Calculate Value of the bond  </em>

= 551.94567 + 310.067

=862.01

Value of the bond = $862.013

 

3 0
3 years ago
A higher required reserve ratio​ _________ the value of the simple deposit multiplier.
Sergio [31]
The answer to this question is decreases
<span>required reserve ratio refers to a certain amount of depositors' money that the banks need to have available on their hand.
</span><span>simple deposit multiplier. refers to the amount of money  that the bank does not hold as excess reserve.
When the amount of cash that need to be held is lower, the amount of excess will also tend to be lower</span>
3 0
3 years ago
Bottle Top, Inc. recently announced they will pay their first annual dividend next year in the amount of $0.75 a share. The divi
Korolek [52]

Answer:

$12.50

Explanation:

Data provided in the question

Annual dividend next year = $0.75

Growth rate = 4%

Required rate of return = 10%

So by considering the above information, the price of the share is

= Next year dividend ÷ (Required rate of return - growth rate)

= $0.75 ÷ (10% - 4%)

= ($0.75) ÷ (6%)

= $12.50

Hence we considered all the information which is given in the question

4 0
3 years ago
In economics a computer bought by a firm for its account keeping is classified differently to a computer bought by an individual
Nesterboy [21]

Answer:

12

Explanation:

5 0
2 years ago
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