All categories

3 years ago

(1) Cash balance per bank, July 31, $8,338.

Business

1 answer:

kondaur [170]3 years ago

3 0

Answer:

Cash account balance after reconciliation: 11,340 dollars

Explanation:

On a bank reconciliation we adjust the balance for the unknow information for each party:

Bank: do not know about a written check until the person goes and cash it. Same with the deposit in transet, we must accrued for this values:

Cash balance per bank, July 31, 8,338.

Deposits in transit, July 31, 3,710.

Outstanding checks, July 31 <u> (708) </u>

Adjusted bank cash balance 11,340

The firm is unaware of the bank charges until reception of the bank statement. It also didn't know about the bank colelction so this are adjustment for hte cash account:

Cash balance per books, July 31, 8,374.

Collected for Sandhill Company 3,026

July bank service charge <u> (60) </u>

Adjusted cash account balance: 11,340

You might be interested in

Denver Company, a calendar year corporation, had the following actual income before income tax expense and estimated effective a

lara [203]

Answer:

Denver Company

Income Tax Expense for the second quarter:

Pre-tax quarter income = $140,000

Estimated tax rate = 24%

Tax Expense = $140,000 x 24%

= $33,600

Explanation:

a) Data:

Quarter income before tax estimated tax rate

first $100k 30%

second $140k 24%

b) Denver's quarter second income tax expense is the product of the pretax income for the second quarter and the estimated income tax rate for the quarter. The resulting calculation shows the estimated income tax expense that has to be settled by Denver. If it is not settled in the quarter second period, it has to be carried forward to the next quarter as a liability under the heading, Income Tax Payable.

7 0

3 years ago

Assume the following information concerning two stocks that make up an index. What is the value-weighted return for the index? (

tatuchka [14]

Answer:

8.54%

Explanation:

Current Index value:

= [current total market value of index stocks] ÷ [Base year total market value of index stocks] × Base year index value

= [(69 × 35000) + (122 × 32500)] ÷ [(63 × 35000) + (113 × 32500)] × 100

= 108.54

Return in percent:

= ( 108.54 - 100 ) ÷ 100

= 8.54%

Therefore, the value-weighted return for the index is 8.54%.

8 0

3 years ago

Spacefood Products will pay a dividend of $ 2.25 $2.25 per share this year. It is expected that this dividend will grow by 3 3%

gavmur [86]

Answer:

$32.14 per share

Explanation:

The computation of the current value of the single share is shown below:

= Current year dividend ÷ (Required rate of return - growth rate)

where,

Current year dividend is $2.25 per share

Required rate of return is 10%

And, the growth rate is 3%

So by placing these items, the current value is

= $2.25 ÷ (10% - 3%)

= $32.14 per share

7 0

3 years ago

Cotton was once georgia's most valuable crop. today it is less important to georgias economy than peanuts, tobacco, and corn. th

Shkiper50 [21]

Georgia booming industry in business sector particularly in Atlanta where it is housed as the International headquarters of facilities of 43 different countries. The industry that gave $23B per capita is the air transport industry. Atlanta dubbed as the busiest airport in the world.

3 0

4 years ago

After studying the political economy of modern Germany, Helge concludes that we must consider the world capitalist economy as a

anastassius [24]

Answer: World systems theory

Explanation:

It is a multidisciplinary, macro-scale approach to world history and social change which emphasizes the world-system as the primary unit of social analysis.

8 0

4 years ago