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Zielflug [23.3K]
3 years ago
13

(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

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5 0
1 year ago
On June 1, year 2, Oak Corp. granted stock options to certain key employees as additional compensation. The options were for 1,0
Dimas [21]

Answer:

Since the options were granted at an exercise price of $15 when the market value of the shares was $20, total compensation under the intrinsic method would be $5 per share on 1,000 shares or $5,000. Since the options are exercisable on 1/2/X2, the $5,000 in compensation would all be recognized n 20X1.

Explanation:

3 0
3 years ago
An existing electrical power line needs to have its capacity increased, and this can be done in either of two ways. The first me
nekit [7.7K]

Answer:

3 years

Explanation:

<u>First method</u>

The PV of the investment can be written as:

PV1 = $15,000 + $32,500/(1+0.06)^n

<u>Second method</u>

The PV of the investment can be written as:

PV2 = $23,000 + $23,000/(1+0.06)^n

After n years both projects will be economically equal. Hence their present value must be equal PV1 = PV2

$15,000 + $32,500/(1.06)^n = $23,000 + $23,000/(1.06)^n

$23,000 - $15,000 = $32,500/(1.06)^n - $23,000/(1.06)^n

$8,000 = $9,500/(1.06)^n

(1.06)^n = $9,500/$8,000

(1.06)^n = 1.1875

Taking log on both sides we get:

nlog1.06 = log 1.1875

n = log 1.1875/log 1.06

n = 0.07463361829/0.02530586526

n = 2.94926166417121

n = 3

So, the answer is 3 years

3 0
2 years ago
Which of the following is an example of a financial asset?
Margaret [11]

Answer:

A. cash

Explanation:

cash is used in finance

5 0
2 years ago
In this situation, the male employees are individual members of an organization that are engaged in a conflict because of their
N76 [4]

Answer:

<u>Interpersonal </u>

Explanation:

When a conflict arises between individual members of an organization owing to differences in goals and values, such a conflict is referred to as interpersonal conflict.

As the word interpersonal suggests, inter i.e between and personal i.e person to person conflict, interpersonal conflict arises when the goals and values of individuals differ owing to which disagreements arise.

Goals and values may differ owing to several factors. Individual values are an outcome of an individuals own conscience and judgement apart from the society, an individual belongs to.

Such a situation is undesirable as it disrupts the coordination among employees and at the same time creates an atmosphere which is non conducive.

8 0
3 years ago
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