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3 years ago

The amount of cash to be reported on the balance sheet at June 30 is the

Business

1 answer:

drek231 [11]3 years ago

7 0

Answer:

The answer is C.

Explanation:

It will not be proper to just choose the balance in the cash ledger or the one in the bank because the balance as per the cash ledger in the book might be different from the balance in the bank statement in the bank.

So to eliminate this differentiation, bank reconciliation needs to be done. After this reconciliation has been carefully done, the adjusted cash balance in the reconciliation will be used.

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You had your first child recently. You would like to set aside some funds so that your child will be able to attend the Universi

gayaneshka [121]

Answer:

Equal annual contributions to the college savings account over the next 18 years is : $4,745.6

Explanation:

Suppose the time the child was born is the Beginning of Year 0 (Y0). So, 18 equal contributions need to be made at the beginning of each year from Y0 to Year 17. Denote these cash flow as Annuity 1 which equal: ( C/ 2%) x ( 1.02^18 -1) = 21.4123 x C with C is the equal annual contribution

The tuition fee starting from the beginning of Year 18 end at the Beginning of Year 21 is a growing annuity at 2.5% growth rate. The Value of this annuity ( Annuity 2) discounted to the Beginning of Year 17 calculated as followed:

(28,000 / (2% - 2.5% ) x ( 1 - [( 1+2.5%)/(1+2%)]^4 ) = $110,614

To save enough for college fee, The future value of Annuity 2 must equal the present value of Annuity 2 calculated above.

Thus, we have: 21.4123 x C = 110,614 <=> C = $4,745.6

3 0

3 years ago

Batista Company management wants to maintain a minimum monthly cash balance of $19,100. At the beginning of April, the cash bala

klio [65]

Answer:

The cash, if any, must be borrowed to maintain the desired minimum monthly balance is $19,100 (given in the question) and the borrowed amount to maintain the desired minimum monthly balance is $9,000.

Explanation:

The steps for computing the borrowed amount to maintain the desired minimum monthly balance is shown below:

Step 1 : Write Beginning Cash balance

Step 2 : Add Cash receipts

Step 3 : Less Cash disbursements

Step 4 : After cash disbursements is calculated

Step 5: Write minimum monthly cash balance

Step 6: Now, deduct Step 4 amount by Step 5 amount to calculate borrowed amount.

So,

After Cash disbursement = Beginning Cash balance + Cash receipts - Cash disbursements

= $22,700 + $245,800 - $257,700

= $10,800

The cash, if any, must be borrowed to maintain the desired minimum monthly balance is $19,100 (given in the question)

And, the borrowed amount to maintain the desired minimum monthly balance = Monthly cash balance - After cash disbursements

= $19,100 - $10,800

= $9,000

Thus, the cash, if any, must be borrowed to maintain the desired minimum monthly balance is $19,100 (given in the question) and the borrowed amount to maintain the desired minimum monthly balance is $9,000.

6 0

3 years ago

Georgina is the owner of a company called piquant (which means having a pleasantly sharp taste or appetizing flavor). she was lo

Genrish500 [490]

The answer is "open innovation".

It is because that organizations have found that with a specific end goal to create enough helpful new item thoughts, they have to make utilization of open advancements by which an association creates key connections to outside individual or association keeping in mind the end goal to make new item thoughts. Open innovation is a term used to advance a data age outlook toward advancement that runs counter to the mystery and storehouse mindset of conventional corporate research labs.

5 0

3 years ago

In January 2016, currency held by individuals and businesses and traveler's checks was $1,347 billion; checkable deposits ow

Zielflug [23.3K]

Answer:

$M_1 = $3111$

$M_2 = $12409$

Explanation:

Given data:

Amount of currency held = $1347 billion

checkable deposit $1347 billion

saving deposit $8189 billion

small time deposit $400 billion

market fund $709 billion

Saving deposit in the form M2 and M1

M_1 = currency held as individual and traveller check + checkable deposit

= $1347 + $1764

$M_1 = $3111$

M_2 = M_1 + saving deposit _ time deposit + maket funds

= $3111 + $8189 + $400 + $709

$M_2 = $12409$

3 0

3 years ago

Which crop saved jamestown by making money for the settlement’s investors?

Rasek [7]

Answer:

Tobacco

Explanation:

No explanation needed.

3 0

2 years ago