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myrzilka [38]
3 years ago
15

A table for a monthly bank reconciliation dated September 30 is given below. For each item 1 through 12, indicate whether the it

em should be added to or deducted from the book or bank balance, or whether it should not appear on the reconciliation. (Select the answers in the appropriate cells. Leave no cells blank. Be certain to select "NA" in fields which are not applicable.)Bank Balance Book Balance Shown/Not Shown on Reconciliation1. NSF check from customer returned on Sept. 25 but not recorded by this company. 2. Interest earned on the September cash balance in the bank. 3. Deposit made on September 5 and processed by bank on September 6. 4. Check written by another depositor but charged against this company's account. 5. Bank service charge. 6. Checks outstanding on August 31 that cleared the bank in September. 7. Check written against the company account and cleared by the bank; erroneously not recorded by the company recordkeeper. 8. Principal and interest on a note receivable to this company is collected by the bank but not yet recorded by the company. 9. Checks written and mailed to payees on October 2. 10. Checks written by the company and mailed to payees on September 30. 11. Deposit made on September 30 after the bank closed. 12. Special bank charge for collection of note in part 8 on this company?s behalf.

Business
1 answer:
kirza4 [7]3 years ago
6 0

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

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Answer:

Explanation:

The pretax cost of debt  is the YTM of the bond and the aftertax cost of debt is tax-adjusted. You can use a financial calculator and key in the following inputs.

note: adjust the recurring payment and time to semiannual basis.

Maturity of the bond as of today; N = 28*2 = 56

Price of the bond; PV = -( 1.07 * 1000) = -1,070

Face value of the bond ; FV = 1,000

Semi-annual payment; PMT = (4%/2)*1,000 = 20

Compute semiannual interest rate ; CPT I/Y = 1.801%

Next, convert the semiannual rate to annual rate(YTM) = 1.801% * 2 = 3.60%

Therefore, pretax cost of debt is 3.60%

Interest paid on borrowed money (debt) has tax benefits through interest tax shield. Based on this, the after tax cost of debt can be calculated. You can solve it by adjusting the pretax cost of debt to incorporate this tax benefit. The formula is as follows;

Aftertax cost of debt = Pretax cost of debt (1-tax)

Aftertax cost of debt = 0.0360(1-0.21) = 0.02844 or 2.84%

8 0
2 years ago
When an offeree changes the terms of an offer, it is called a counteroffer. What happens
Amanda [17]
<h2>Original offer becomes void (nothing).</h2>

Explanation:

Counteroffer: The original offer would have been either rejected or modified with new one.

This gives the original offeror three options:

  • accept the counteroffer,
  • reject it, or
  • make another offer.

Example:

When a buyer makes an offer on say "home", there is a possibility of seller can making a counteroffer. In other terms, a counteroffer is one of the negotiating tactic in response to the initial offer. You can call it as business tricks. When a counteroffer is announced, "the original offer goes nothing(void)".

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The____________problem occurs when people fail to join a group because they can get the benefits the group offers without contri
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D. Group coordination
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Secret Trails received payment in full within the credit period for horse boarding for $1,300 plus 4% sales tax. Terms of the sa
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The appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.

<h3>Journal entry</h3>

Based on the information given the correct entry to record this transaction is:

Debit Cash $1313

{$1300+[($1300×4%)-($1300×3%)]}

[$1300+($52-$39)]

Debit Sales Discount $39

($1300×3%)

Credit Accounts Receivable $1352

[$1300 + ($1300×4%)]

Inconclusion the appropriate journal entry is:Debit Cash $1313; debit Sales Discount $39; credit Accounts Receivable $1352.

Learn more about journal entry here:brainly.com/question/9701045

7 0
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Answer: Geocentric managers

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