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NeTakaya
3 years ago
14

At August 31, Kingbird, Inc. has a cash balance per books of $8,320 and the following additional data from the bank statement: c

harge for printing Kingbird, Inc. checks $50 and interest earned on checking account balance $46. In addition, Kingbird, Inc. has outstanding checks of $880. Determine the adjusted cash balance per books at August 31.
Business
1 answer:
german3 years ago
3 0

Answer:

$8,316

Explanation:

The computation of adjusted cash balance per books at August 31 is shown below:-

Adjusted cash balance per books at August 31 = Cash balance per books + Interest earned - Charge for printing Kingbird, Inc. checks

= $8,320 + $46 - $50

= $8,316

Therefore for computing the Adjusted cash balance per books at August 31 we simply applied the above formula and we have not considered the outstanding checks as it is not relevant.

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Brooks Company is a consulting firm and applies indirect overhead costs based on billing hours. The firm expects to have $75,000
valina [46]

Answer:

$2325

Explanation:

Indirect costs =75000/750=$100 per hour

Direct Labour = $55 per hour

Total cost per hour =100+55=$155

$155 ×15= $2325

The total cost for the consulting job for George Peterson is $2325

5 0
3 years ago
Three graduate business students are considering operating a fruit smoothie stand in the Harbor Springs, Michigan, resort area d
Leviafan [203]

Answer:

a. 8,000 + 1,000 + 3.2Q

b. 27,000 + 3.2Q

c. 15,000 Units

Explanation:

a. The accounting cost function is shown below:-

Accounting cost function = Fixed Leasing and insurance cost + material cost and supplied cost

= 8,000 + 1,000 + 3.2Q

b. The economic cost function is shown below:-

Economic cost function  = Accounting cost + Opportunity cost

= 9,000 + 3.2Q + 3*6,000

=27,000 + 3.2Q

c. The computation of break even point is shown below:-

Break even Point = Total Fixed Cost ÷ Price - Average Variable cost

= 27,000 ÷ 5 - 3.2

= 15,000 Units

8 0
3 years ago
Short Term Inc. has issued zero-coupon bonds that mature in one year. The returns from holding these bonds have a beta of 0.25.
Nataly [62]

Answer:

1. Current bonds price = $81.86.

2. Yield to maturity  = 22.16%.

3. 3.  Expected Return = 7.5%.

Explanation:

Required Rate = Rf + beta*MRP

          = 5% + 0.25*(15% - 5%)

       = 5% +0.25*10%

              = 5% + 2.5% = 7.5%

 Required Rate = 7.5%

  Expected Future Value = 70% x $100 + 30% x $60

       = (0.7*$100) + (0.3*$60)

       = $(70+18) = $88

    Expected Future Value = $88

1.  Current bonds price = 88/1.075 = $81.86

2.  Yield to maturity = 100/81.86 - 1 = 1.22159785-1 = 0.22159785 =   22.159785% = 22.16%

3.  Expected Return = 7.5%

6 0
3 years ago
An audit of historical financial statements most commonly includes the Group of answer choices income statement, the statement o
Advocard [28]

Answer:

balance sheet, income statement, statement of cash flows, and the statement of changes in stockholders' equity.

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP). Examples of financial statements includes Balance sheet, cash-flow and income statement.

Financial statements can be defined as a document used for the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. These includes balance sheet, statement of retained earnings and income statement.

An auditor refers to an authorized individual who review, examine and verify the authenticity and accuracy of business financial records or transactions.

Thus, an audit of historical financial statements most commonly includes the balance sheet, income statement, statement of cash flows, and the statement of changes in stockholders' equity.

6 0
3 years ago
Productivity is a measure of:
Crazy boy [7]

I think the answer you're looking for is 'D' if you're asking what productivity is in a generalized sense.

5 0
3 years ago
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