1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
erastova [34]
2 years ago
10

He balance shown in the August bank statement of Colt Company was $22,400. After examining the August bank statement and items i

ncluded with it, the company's accountant found:
Checks outstanding $4,500
NSF check 140
Note collected by bank for the Colt Company 1,500
Deposits outstanding 2,300
Bank service fees 60

What is the amount of cash that should be reported in the balance sheet as of August 31?
A.$20,200
B.$16,700
C.$23,400
D.$15,700
Business
1 answer:
Pani-rosa [81]2 years ago
7 0

Answer:

A.$20,200

Explanation:

The computation of the cash amount which is to be reported is shown below:

= August bank statement balance - checks outstanding + deposit outstanding  

= $22,400 - $4,500 + $2,300

= $20,200

The other items like NSF check, Note collected by the bank for the Colt Company, and Bank service fees are irrelevant. Hence, these are ignored and not be considered in the computation part

You might be interested in
If the central bank targets a monetary​ aggregate, it is likely to lose control over the interest rate because A. of fluctuation
Rom4ik [11]

Answer:

The correct answer is B. of fluctuations in the demand for reserves.

Explanation:

The management of the interest rate is perhaps one of the areas of economic policy that has raised the most controversy among policymakers. Much of it comes from both the interpretation of the role that the interest rate plays in macroeconomic adjustment, and the real possibility of achieving effective control over it.

Regarding the role of the interest rate, there are opposing positions about the influence that this variable may have on that of  termination of savings investment. Thus, for example, from a Keynesian perspective, a weak relationship is raised between saving the interest rate, since it depends primarily on the level of income, while great importance is attached to this variable as a determinant of investment. Under this scheme, control over the interest rate can be justified since it would have the advantage of stimulating economic activity through greater investment, without significantly affecting savings levels.

6 0
3 years ago
Which of the following reasons would cause a company to reject an offer to accept business at a special price?
zysi [14]

Answer:

The additional sale will not conflict with regular sales.

Explanation:

Accept business at a special price if the additional sales conflict regular sales. That is, special price must maintain the status quo or improve it.

8 0
2 years ago
Name 3 outside financing sources
sukhopar [10]

Answer and explanation:

In the corporate world, outside or external financing resources refer to all the sources from where a business can obtain the necessary capital to handle its operations without using the firm's assets. Common examples of external financing resources are:

  • Venture Capitals:<em> funding performed at an initial stage of companies after making research on the market and the company. </em>
  • Term loans:<em> provided by financial institutions that profit from the interest rate established in the loan or assets as collateral in case of payment failure. </em>
  • Debt Factoring:<em> short-term financing in which an organization sells its account receivables at a discount.</em>
6 0
3 years ago
"DEF Corporation, after many profitable years, declares a one-time special cash dividend of $5.00 per share. After the announcem
Tju [1.3M]

Answer: B. 1 DEF Jan 50 Call

Explanation:

The Options Clearing Corporation (OCC) acting under its mandate of being an issuer and guarantor for options and futures contracts can alter options prices but does not do so for prices based on normal dividends as they are more regular and their effects are already accounted for in the price of the call.

When a company calls a one-time special cash dividend, this is new to the market which would not have incorporated it into the price of the call. The OCC will then adjust the price to account for this.

In this case it will do so by subtracting the dividend from the call;

= 55 - 5

= $50

The customer will then have 1 DEF Jan 50 Call .

8 0
3 years ago
Which best describes a central bank’s primary goals?
Pavlova-9 [17]
I think it’s either the last one or the first one sorry if I’m wrong
5 0
3 years ago
Other questions:
  • A certain firm produces and sells staplers. Last year, it produced 7,000 staplers and sold each stapler for $6. In producing the
    13·1 answer
  • Your large firm is about to change to a customer centered organization structure in which employees who have rarely had customer
    10·1 answer
  • The Containers Inc. experienced the following events during its first year of operations,
    7·1 answer
  • If Tex's Manufacturing Company purchases the component externally, $20,000 of the fixed costs can be avoided. At what external p
    15·1 answer
  • A social club charters a bus at a cost of $560 to take a group of members on an excursion to Atlantic City. At the last minute,
    5·1 answer
  • If you had $1,000 to invest into the following funds, which one would have the highest value (not including any fees) at the end
    10·2 answers
  • Peter signed up for a program that cost $10.50 per month to stream movies to his computer. he decided to cancel his service afte
    12·1 answer
  • Explain what a trade war is
    11·1 answer
  • When the increase in the price of one good causes the demand for another good to decrease, the goods are Group of answer choices
    7·1 answer
  • In the outpsider case, if cade tells the buyer, pat bennett, he has another offer of $550k, what should pat say?
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!