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Zinaida [17]
2 years ago
10

Nickleson Company had an unadjusted cash balance of $7,750 as of May 31. The company’s bank statement, also dated May 31, includ

ed a $72 NSF check written by one of Nickleson’s customers. There were $800 in outstanding checks and $950 in deposits in transit as of May 31. According to the bank statement, service charges were $50, and the bank collected an $800 note receivable for Nickleson. The bank statement also showed $13 of interest revenue earned by Nickleson. Determine the true cash balance as of May 31.
Business
1 answer:
stiks02 [169]2 years ago
8 0

Answer:

$8,441

Explanation:

Given:

Unadjusted Cash Balance as of may 31 = $7,750

Interest Earned = $13

Note Collected by Bank = $800

NSF check = $72

Bank charges = $50

Now,

The True Cash Balance is calculated as:

= Unadjusted Bank Balance + Deposit in transit - Outstanding check

i.e

= $7,750  + ( $13 + $800)  - ( $72  + $50 )

 = $8,441

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Thats your answer.

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2 years ago
Read 2 more answers
What is a BFOQ? Should BFOQs be allowed?
Ulleksa [173]

Answer:

In employment law, a bona fide occupational qualification (BFOQ) (US) or bona fide occupational requirement (BFOR) (Canada) or genuine occupational qualification (GOQ) (UK) is a quality or an attribute that employers are allowed to consider when making decisions on the hiring and retention of employees—a quality that when considered in other contexts would constitute discrimination and thus be in violation of civil rights employment law. Such qualifications must be listed in the employment offering.[citation needed]

Explanation:

Canada

The law of Canada regarding bona fide occupational requirements was considered in a 1985 Canadian court case involving an employee of the Canadian National Railway, K. S. Bhinder, a Sikh whose religion required that he wear a turban, lost his challenge of the CNR policy that required him to wear a hard hat.[1] In 1990, in deciding another case, the Supreme Court of Canada amended the Bhinder decision: "An employer that has not adopted a policy with respect to accommodation and cannot otherwise satisfy the trier of fact that individual accommodation would result in undue hardship will be required to justify his conduct with respect to the individual complainant. Even then the employer can invoke the BFOQ defence."[2]

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In employment discrimination law in the United States, both Title VII of the Civil Rights Act of 1964 and the Age Discrimination in Employment Act contain a BFOQ defense. The BFOQ provision of Title VII provides that:

[I]t shall not be an unlawful employment practice for an employer to hire and employ employees, for an employment agency to classify, or refer for employment any individual, for a labor organization to classify its membership or to classify or refer for employment any individual, or for an employer, labor organization, or joint labor-management committee controlling apprenticeship or other training or retraining programs to admit or employ any individual in any such program, on the basis of his religion, sex, or national origin in those certain instances where religion, sex, or national origin is a bona fide occupational qualification reasonably necessary to the normal operation of that particular business or enterprise ...[3]

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5 0
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Dmitry_Shevchenko [17]

1. The total compensation cost pertaining to the incentive stock option plan is $36 million.

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2. SSG Cycles Journal entry

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Credit Additional-paid in capital -Stock options $12 million

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(To record compensation expense)

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Credit Additional-paid in capital -Stock options $12 million

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