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OverLord2011 [107]
3 years ago
14

Del Gato Clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the clo

se of business on June 30, its Cash account shows an $11,589 debit balance. Del Gato Clinic's June 30 bank statement shows $10,555 on deposit in the bank.Outstanding checks as of June 30 total $1,829.The June 30 bank statement lists a $16 bank service charge.Check No. 919, listed with the canceled checks, was correctly drawn for $467 in payment of a utility bill on June 15. Del Gato Clinic mistakenly recorded it with a debit to Utilities Expense and a credit to Cash in the amount of $476.The June 30 cash receipts of $2,856 were placed in the bank's night depository after banking hours and were not recorded on the June 30 bank statement.
Required:
Prepare the adjusting journal entries that Del Gato Clinic must record as a result of preparing the bank.
Business
1 answer:
Cerrena [4.2K]3 years ago
3 0
476+898)+^9764598*7*
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Park Co. is considering an investment that requires immediate payment of $27,000 and provides expected cash inflows of $9,000 an
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Answer:

IRR =   12.92%

Explanation:

<em>The IRR is the discount rate that equates the present value of cash inflows to that of cash outflows. At the IRR, the Net Present Value (NPV) of a project is equal to zero </em>

<em>If the IRR greater than the required rate of return , we accept the project for implementation  </em>

<em>If the IRR is less than that the required rate , we reject the project for implementation  </em>

A project that provides annual cash flows of $24,000 for 9 years costs $110,000 today. Under the IRR decision rule, is this a good project if the required return is 8 percent?

Lets Calculate the IRR

<em>Step 1: Use the given discount rate of 10% and work out the NPV </em>

NPV = 9000× (1-1.10^(-4)/0.1) - 27,000 =1528.78

<em>Step 2 : Use discount rate of 20% and work out the NPV (20% is a trial figure) </em>

NPV = 9000× 1- 1.20^(-4)/0.2 - 27000 = -3701.38

<em>Step 3: calculate IRR </em>

<em>IRR = a% + ( NPVa/(NPVa + NPVb)× (b-a)%</em>

IRR = 10% +  1528.78/(1528.78+3701.38)× (20-10)%= 0.12923

     = 0.129230153  × 100

IRR =   12.92%

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List four ways in which china was affected by thriving trade during the yuan dynasty
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Answer:

Four ways in which china was affected by thriving trade during the yuan dynasty are:

  • Sea trade developed under the Mongols.
  • Skills and information from china spread through other parts of the world.
  • A more accurate calender been used.
  • They started using better astronomical instruments.

Explanation:

Yuan Dynasty was establised by mongols in the early 13 centuries. It was ruled by Kublai Khan. It was first forgein led dynasty in the ancient China. Yuan danasty have open door policy, where forgeiners were allowed to travel freely in China without paying any taxes. They have introduced the first paper currency.

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Answer:

B)debit Interest Expense, $200; credit Interest Payable, $200

Explanation:

The adjusted journal entry for the interest expense is shown below:

Interest expense A/c Dr  $200

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(Being the interest adjusted entry is recorded)

Since we have to record the interest expense from September 1 to September 30 which reflects 1 month and the computation of interest expense is shown below:

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= $40,000 × 6% × (1 ÷ 12)

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