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
You have worked with the research department to implement the research plan. The team has gathered the data, checked it for accu
Kipish [7]

Answer:questionnaire method

Explanation:

Using questionnaire methods to gather your responses, it would be very imperative and pertinent for your marketing department to utilize them. It is because, your questionnaire will show a well detailed information on your respective research. This would also give room for improvement if needs arises.

6 0
3 years ago
Read 2 more answers
Metlock Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at
denis23 [38]

Answer:

Entry for december 1, 2021:

Purchase Inventory=$853,000

Liability on purchase commitment=$902,900-$853,000

Liability On purchase commitment=$49000

Cash=$902,900

Explanation:

Entry for december 1, 2021:

Purchase Inventory=$853,000

Liability on purchase commitment=$902,900-$853,000

Liability On purchase commitment=$49000

Cash=$902,900

3 0
3 years ago
The Hot Dog Shack wants to raise $1.2 million by selling some coupon bonds at par. Comparable bonds in the market have a 6.5 per
Bad White [126]

Answer:

6.75%

Explanation:

In this question, we use the Rate formula which is shown in the spreadsheet.  

The NPER represents the time period.  

Given that,  

This is correct Present value = $976.87

Assuming figure - Future value or Face value = $1,000  

PMT = 1,000 × 6.5% = $65

NPER = 15 years

The formula is shown below:  

= Rate(NPER,PMT,-PV,FV,type)  

The present value come in negative  

So, after solving this,  the answer would be 6.75%

7 0
2 years ago
Catherine often switches from project to project because she thinks she gets more done that way. She also doesn't get bored as o
marta [7]
The answer is A. Multitasking. For three reasons: <span>You’re less productive. It is scientifically proven that there is no such thing as multitasking. You're simply switching from one task to another. When your brain tries to switch it needs to rethink about what its doing which wastes time. You sabotage your ability to do good work. Constantly switching from one thing to another means you can't focus on one specific thing. This often leads to mistakes which means you need to take extra time to fix it anyway. You squelch your creative juices. In other words when you go back and forth from one thing to another you're preventing your thoughts from developing into other thoughts. Which could potentially prevent a brilliant idea.Stay safe. Focus!
</span>
5 0
2 years ago
Read 2 more answers
Quarry Corp. has the following costs related to a mine it acquired this year. Cost of land and natural resource rights $200,000
frozen [14]

Answer:

$375,000

Explanation:

The computation of the amount included in the natural resource is shown below:

= Cost of land & natural resource rights + cost of extraction during year + equipment used for mining + exploration & drilling cost

= $200,000 + $35,000 + $100,000 + $40,000

= $375,000

Hence, all the cost is inlcuded for natural resource except asset retirement obligation for restoring the land as this is not relevant so we ignored it

8 0
3 years ago
Other questions:
  • The rate that a state assigns reflecting a company's stability or instability in employing workers is the:
    12·1 answer
  • Manfred is the father of a 16-year-old boy. He notices that his son heads over to the other side of town after getting back from
    11·1 answer
  • The three conditions that characterize difficult managerial decisions concerning resources, capabilities, and core competencies
    10·1 answer
  • Ken and lynn paid $5,000 to purchase series ee bonds in the name of their​ 11-year-old son. The son has no other​ income, and th
    9·1 answer
  • Suppose a customer is unable to pay its account on time, so the company accepts a six-month interest-bearing note receivable to
    12·1 answer
  • An asset has an average return of 11.57 percent and a standard deviation of 24.54 percent. What is the most you should expect to
    5·1 answer
  • An agency coupled with an interest means: Select one: a. either party may terminate the agency at any time. b. the agency may no
    15·1 answer
  • Find an article regarding full disclosure or the treatment of accounting changes. In 250-300 words, summarize the article that y
    14·1 answer
  • McKean Corporation authorized 500,000 shares of common stock in its articles of incorporation. On May 1, 2019, 100,000 shares we
    7·1 answer
  • fiona felt like there were not enough potential customers for her to earn a good living as a commission-based sales agent. there
    5·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!