Answer:
The answer is C) $7,970.
Explanation:
We have 04 reconciling items as below:
- Outstanding checks $800: this amount was already recorded in the Cash account of the company once the check was written; thus, the Cash ending balance has already reflected this amount.
- Deposits in transit $700: this amount was already recorded in the Cash or Cash-equivalent account of the company once the deposit was made; thus, the Cash ending balance has already reflected this amount.
- Bank service charge $30: fees paid to banking activities and are deducted without informing to the company. Thus, this deduction in cash is not reflected in the Cash account.
- NSF check $500: this was recorded as the increase in Cash account by the company once the check was written by the person/entity to the company. However, the writer's account balance was not sufficient to honor this check amount to the company; thus Cash Account at the end of the period should reduced by $500. Instead, this $500 may be recorded in Account Receivable account.
Thus, the adjusted cash balance = 8,500 - 30 - 500 = $7,970.
The correct answer should be fewer employment opportunities. If it's declining then that means that it doesn't need new people to develop it which means there's fewer opportunities.
Here are some behaviors that will give you low credit score :
- If you always maxed out your credit card limits, it make you seems irresponsible
- If you never paid your credit bills on time
- If you always change your living address
but as long as you have a good history of paying your credit bills on time, your credit score will be fine
Answer:
Given:
Allowance for Doubtful Accounts is a credit of $760
Written off accounts = $120
Accounts totaling = $740
The end-of-year balance (before adjustment) in Allowance for Doubtful Accounts will be computed as:
<em>Allowance for Doubtful Accounts - Accounts totaling + Written off accounts</em>
<em>⇒ $760 - $740 + $120</em>
<em>⇒ $140</em>
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<u><em>therefore, the correct option is (c).</em></u>
