Answer:
The correct option is C,both A and B
Explanation:
A closed economy is not opened to the idea of international trade, where its surplus commodities can be traded with other nations of the world in order to earn foreign exchange while at the same procuring from trading partners products required by its nationals not available at all in the economy or the ones that are not available in the required quantity.
A closed economy also assumes itself to be sufficient in the area of fiscal policy management by not engaging in international borrowing or lending arrangements.
Answer:
(a) Bank Reconciliation statement:
Bank's cash balance:
= Per bank statement + Deposits outstanding - Checks outstanding
= $22,346 + $1,725 - $1,300
= $22,771
Therefore, bank balance per reconciliation is $22,771.
Company's cash balance:
= Per general ledger - service fees
= $22,810 - $39
= $22,771
Therefore, company balance per reconciliation is $22,771.
(b) Journal entry to adjust balance for cash is as follows:
Bank service charge expense A/c Dr. $39
To Cash A/c $39
(To record bank service charge)
The answer to the given question above would be option C. The one that is most <span>essential to any definition of marketing is CUSTOMER RELATIONSHIPS. Hope this answers your question. Let me know if you need more help next time. Have a great day!</span>
Answer: $7200
Explanation:
From the question, we are informed that On January 2, 2020, Howdy Doody Corporation bought 12% of Ranger Corporation's common stock for $50,000.
We are further told that during 2020, Ranger declared and paid a dividend of $60,000 and that on December 31, 2020, the fair value of the Ranger stock owned by Howdy Doody had increased to $70,000.
The amount that Howdy Doody show in the 2021 income statement as income from this investment will be:
= $60,000 × 12%
= $60,000 × 0.12
= $7,200
Answer:
Beckett Co received $ 10.699,65
Explanation:
We have to determnate the balance of the invoice after the returned and the discount granted. We also have to receive the freight from the customer as we prepaid them to refund this amount against the customer:
invoice balance:
11,700 nominal less 1,350 return = 10,350
discount granted: 10,350 x 1% = (10.35)
freight refund <u> 360 </u>
total cash proceeds: 10.699,65
