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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 are scheduled to receive annual payments of $60,000 for each of the next 20 years. The annual rate of return is 8 percent. W

babymother [125]

Answer:

= $ 219,657.43

Explanation:

FV of annuity = P x [(1+r) n -1/r]

P = Periodic payment = $ 20,000

r = Periodic interest rate = 0.08

n = Number of periods = 20

FV = $ 60,000 x [(1+ 0.08)20 -1/0.08]

= $ 60,000 x [(1.08)20 -1/0.08]

= $ 60,000 x [(4.66095714384931 -1)/0.08]

= $ 60,000 x (3.66095714384931/0.08)

= $ 60,000 x 45.7619642981163

= $ 2,745,717.85788698 or $ 2,745,717.86

FV of annuity due =(1+r) x P x [(1+r) n -1/r]

= (1+0.08) x $ 2,745,717.85788698

= 1.08 x $ 2,745,717.85788698

= $ 2,965,375.28651794 or $ 2,965,375.29

Difference in FV of ordinary annuity and annuity due

= $ 2,965,375.29 - $ 2,745,717.86

= $ 219,657.43

3 0

3 years ago

Suppose that a large lake in the middle of Minnesota evaporates, leaving more fertile farm land for growing corn available. Assu

densk [106]

Wages would fall as the number of workers available grows. Landowners in Louisiana will earn more rent as the demand for land increases.

<h3>What is the law of demand and supply?</h3>

The law of supply and demand is still in effect:

Wages: when the amount supplied increases, but the quantity required does not, the price falls.

When the quantity required increases without the quantity supplied increasing, the price rises.

Thus, Wages would fall as the number of workers available grows.

For more details about law of demand, click here:

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7 0

1 year ago

On december 1, 2016, escobar consulting, which uses a calendar year as its fiscal year, signs a $4,000, 12%, four-month note pay

loris [4]

The journal entry to record the payment of the note and entire interest on april 1, 2017 is as follows; Debit Notes Payable $4,000, Debit Interest Expense 120, Debit Interest Payable 40, <span>Credit Cash $4,160.

April 1,2017
Notes payable $4,000
Interest expense $120
Interest payable $40
Cash $4,160</span>

7 0

3 years ago

Jason Liang has gotten three job offers. He is now looking at the benefits packages of all three to see what he likes and doesn'

Dovator [93]

Answer:

Which step in the career planning process is Jason completing?

E) Evaluate financial and other factors of positions offered.

Explanation:

Career planning is an aspect of career management that involves self evaluation and formulation goals to have a strong career path. It involves constant evaluation in improving skills and setting goals to ensure that one achieves career objectives that they set out. Career planning is a step-wise procedure that is to move an individual to a direction that will make him/her achieve professional excellence in the career that is chosen. The following steps are involved in career planning;

1. Self assessment

Self assessment involves the evaluation of one's own skills and interests and also capabilities to understand what he/she already has and where he/she wants to be in the career path.

2. Research on careers

Once the skills and interests has been assessed, one can research on the careers they would love to pursue to find out if they align with their skills, capabilities and interests

3. Set career objectives

The individual should then set clean career objectives, both short-term and long-term objectives.

4. Learn and improve skills

In order to align with set career objectives, the individual should keep improving and acquiring new skills.

5. Search for a Job

This involves the preparation of Curriculum vitae and supporting documents and search for jobs that offer opportunities that will help in advancing your career.

6. Once you receive job offers, evaluate various factors including the financial ones offered by the positions.

7 0

3 years ago

In a process costing system, the application of factory overhead usually would be recorded as an increase in: (CPA adapted) A. F

otez555 [7]

Answer: Factory overhead control

Explanation: Factory overhead is the account where the amount of cost incurred while manufacturing a product is recorded and no direct labour or material is recorded. When the manufactured goods are finished and produced they are recorded as expenses when the goods are sold as manufactured finished products.

All the expenses related to the factory are included in this account such as rent, utility, electricity, supplies, tools. Factory overhead is known as manufacturing burden or expenses.

7 0

3 years ago