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
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

You might be interested in
Students have the right to express themselves through speech provided the speech is not obscene, vulgar, or disruptive.
mezya [45]
This statement is true
3 0
2 years ago
Read 2 more answers
Market equilibrium Consider the demand function of tofu given by Qd = 150 – 10p + 5pb and the supply function of tofu given by Q
ser-zykov [4K]

Answer:

a) Qs = 50 + 20p - 7ps

= 50 + 20p - 7×(2)

= 50 + 20p - 14

= 36 + 20p

At equilibrium, Q_{d} = Q_{s}

So, 150 - 10p + 5p_{b} = 36 + 20p

So, 20p + 10p = 30p

= 150 - 36 + 5p_{b}

= 114 + 5p_{b}

So, p = (114/30) + (5/30)p_{b}

= 3.8 + 0.17p_{b}

Thus, p_{e} = 3.8 + 0.17p_{b}

Q = 36 + 20p

= 36 + 20(3.8 + 0.17p_{b})

= 36 + 76 + 3.4p_{b}

= 112 + 3.4p_{b}

Thus, Q_{e} = 112 + 3.4p_{b}

b) p_{e} = 3.8 + 0.17p_{b}

= 3.8 + 0.17×(5)

= 3.8 + .85

= 4.65

Q_{e} = 112 + 3.4_{b}

= 112 + 3.4(5)

= 112 + 17

= 129

c) Qd = 150 - 10p + 5pb = 150 - 10(2.5) + 5(5) = 150 - 25 + 25 = 150

Qs = 36 + 20p = 36 + 20(2.5) = 36 + 50 = 86

Thus, there is excess demand as Q_{d} > Q_{s}

d) New Q_{d}= 180 - 10p + 5p_{b}

= 180 - 10p + 5×(5)

= 180 - 10p + 25

= 205 - 10p

Now, new Q_{d} = Q_{s} gives,

205 - 10p = 36 + 20p

So, 20p + 10p = 205 - 36

So, 30p = 169

So, p = 169÷30

So, p_{e} = 5.63

Q = 205 - 10p = 205 - 10×(5.63) = 205 - 56.3 = 148.7

So, Q_{e} = 148.7

6 0
3 years ago
The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 1800 units, the actual direct
Marat540 [252]

Answer:

The correct answer is D.

Explanation:

Giving the following information:

The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 1800 units, the actual direct labor cost was $48000 for 3000 direct labor hours worked.

We need to calculate the total direct labor variance, using two formulas:

Direct labor efficiency variance= (SQ - AQ)*standard rate

Direct labor efficiency variance= (1,800*2 - 3,000)*15= $9,000 favorable

Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity

Direct labor rate variance= (15 - 48,000/3,000)*3,000= $3,000 unfavorable

Total direct labor variance= 9,000 - 3,000= $6,000 favorable

6 0
3 years ago
Scenario: Economic hardship has befallen the country after a world war in the year 2055. Thankfully, we are victors. However the
Aloiza [94]

Answer:

I RLLY NEED THESE POINTS IM SO SORRY!

Explanation:

8 0
2 years ago
When filing your tax return, what is the maximum amount you can deduct for a capital loss?.
AnnZ [28]

When filing your tax return, the maximum amount you can deduct for a capital loss is $3,000(for individuals and married filing jointly) or $1,500 (for married filing separately).

<h3>What is a tax return?</h3>

A tax return is such or more forms submitted to a taxing body that include earnings, outlays, and other crucial tax data.

Tax returns give taxpayers the option to determine their tax liability, plan out their tax payments, or ask for refunds for any taxes they have paid in excess of what is required.

Some characteristics is of tax returns are-

  • For just an individual or corporation having reportable income, such as wages, interests, dividends, capital appreciation, or other earnings, tax returns must typically be filed annually.
  • The tax return is just a document submitted to a taxing authority that lists earnings, outlays, and other pertinent financial data.
  • Taxpayers compute their tax liabilities, set up tax payments, and request refunds for overpaid taxes on their tax returns.
  • Tax returns must typically be filed yearly.

To know more about tax returns, here

brainly.com/question/27300507

#SPJ4

5 0
1 year ago
Other questions:
  • A stock generally issued by companies expected to provide an uninterrupted stream of dividends and good, long-term growth prospe
    7·1 answer
  • Martha must drive twenty miles to get to the nearest grocery store. she often buys her daily items from a convenience store near
    7·1 answer
  • If planned aggregate spending in an economy can be written as pae = 15,000 + 0.6y - 20,000r, and potential output equals 36,000,
    12·1 answer
  • A consumer currently spends a given budget on two goods, X and Y, in such quantities that the marginal utility of X is 10 and th
    11·1 answer
  • The most effective audit procedure for determining the collectibility of an account receivable is the
    10·1 answer
  • If the labor force is 320,000 and the total population 16 years of age or older is 400,000, the labor-force participation rate i
    14·1 answer
  • Futures contracts on gold are based on 100 troy ounces and priced in dollars per troy ounce. Assume the January gold contract se
    14·1 answer
  • Hygfgfngfjgfjggfjffgfjgfjfgtjdftr6j
    11·2 answers
  • Which situation would most likely take place in a command economy?
    8·1 answer
  • ethan needs to assign his team members the following tasks. one of the team members, gail, is an extrovert. which task is most a
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!