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Kisachek [45]
3 years ago
14

A check drawn by a company in payment of a voucher for $965 was recorded in the journal as $695. What entry is required in the c

ompany's accounts?
a. debit Accounts Payable; credit Cash.
b. debit Cash; credit Accounts Receivable.
c. debit Cash; credit Accounts Payable.
d. debit Accounts Receivable; credit Cash.
Business
1 answer:
olga2289 [7]3 years ago
8 0

Answer:

d. debit Accounts Receivable; credit Cash

Explanation:

The cash has been credited with $695 instead of $965 which means that $270 has been credited short. Same way, the liabilities have been debited by $270 short. So, we will have to reverse the entry ie. debit Accounts Receivable; credit Cash

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3 years ago
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Answer:

A) Factoring

Explanation:

Factoring: This is a short term financial option which refers to financial transactions between a business firm and a financial institution. It is the selling of debt by a business firm at a discounted price to a financial institution.

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Factoring is the relationship between the financial institution and the business firm in which the fimancial institution purchases the business firms credit and pay about 80% to 90% immediately and pay the balance at a later date.

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3 years ago
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A put option on a stock with a current price of $46 has an exercise price of $48. The price of the corresponding call option is
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Answer:

$5.73

Explanation:

The computation of the price of the put is shown below:

= Price of the corresponding call option - current price of put option + exercise price ÷ ( 1 + effective annual risk-free rate of interest) ^ number of  months ÷ total months in a year

= $4.20 - $46 + $48 ÷ ( 1 + 0.04) ^ 3 months ÷ 12 months

= $4.20 - $46 + $48 ÷ 1.0098534065

= $4.20 - $46 + 47.5316513156

= $5.73

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4 years ago
The amount of money earned after subtracting the costs associated with that earning is known as
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D. Any monies left after expenses is known as profit
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