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insens350 [35]
3 years ago
5

Lenore, Inc. gathered the following information from its accounting records and the October bank statement to prepare the Octobe

r bank reconciliation: Ending cash balance per books, 10/31$7,000 Deposits in transit 300 Interest received from bank 1,700 Bank service charge for check printing 60 Outstanding checks 4,000 NSF check of T. Owens 350 The up-to-date ending cash balance on October 31 is:_______
A. $7,940
B. $4,590
C. $8,290
D. $5,290
Business
1 answer:
Rashid [163]3 years ago
4 0

Answer:The up-to-date ending cash balance on October 31 is: $8,290---C

Explanation:

A bank Reconciliation statement helps to match a company's book record to its bank record and adjust discrepancies, If any.

Here, the deposits in transit and outstanding checks fall under the bank's accounting records and will not be involved in the company's additions or deductions in the accounting book balance records.

Ending cash balance as per books = $7,000

Add:

Interest received from Bank =           +$1,700

subtotal                                                $8,700                    

Deduct

Bank Service charge =                        -$60

NSF check =                                        -$350

Up-to-date ending cash balance =     $8,290

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Answer:

Brandon needs to compare his salary to other employees of the company, he needs to pay special attention if:

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4 0
3 years ago
Greece can produce either 100 bushels of oranges or 20 bushels of tomatoes using all of its available resources, and Turkey can
lakkis [162]

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100 bushels of oranges

Explanation:

A country has comparative advantage in production if it produces at a lower opportunity cost when compared to other countries.

for Greece

opportunity cost of producing oranges = 20 / 100 = 0.2

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3 years ago
Which of the following terms describes making false statements about the financial condition of any insurer that are intended to
Marysya12 [62]

Answer:

The answer to this question is Defamation

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Defamation refers to any statement (Whether written or verbal) that is untrue and injurious  to any of the parties involved in the insurance business.

A statement is said to be a Defamatory statement if it is false especially regarding the financial condition of the insurer.

Identifying defamatory statement

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5 0
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To pay for college, Henry received the following: $1,000 scholarship from the Thespian Club to pay for books $4,000 scholarship
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Answer:

$5,000

Explanation:

Money received as scholarship and used to pay for tuition or related expenses is not included in the gross income. So the $1,000 scholarship from the Thespian Club and the $4,000 scholarship from the Elks Lodge are not taxable. The only taxable income that Henry earned is the $5,000 that he was paid for being a dorm supervisor.

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3 years ago
Charlie’s utility function is ????(x????,x????) = x????x????. The price of apples used to be $1, the price of bananas used to be
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The detailed analysis and step by step calculation is as shown in the attached files.

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