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alukav5142 [94]
3 years ago
6

The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: Cash balance

according to the company's records at August 31, $17,350. Cash balance according to the bank statement at August 31, $18,340. Checks outstanding, $3,520. Deposit in transit, not recorded by bank, $2,830. A check for $590 in payment of an account was erroneously recorded in the check register as $950. Bank debit memo for service charges, $60. a. Prepare a bank reconciliation, using the format shown in Exhibit 13. Creative Design Co. Bank Reconciliation August 31, 20Y6 Cash balance according to bank statement $ Adjustments: Deposit in transit, not recorded by bank Outstanding checks Total adjustments Adjusted balance $ Cash balance according to company's records $ Adjustments: Error in recording check $ Bank service charge Total adjustments Adjusted balance $ Feedback b. If the balance sheet were prepared for Creative Design Co. on August 31, 2016, what amount should be reported for cash? $
Business
1 answer:
Virty [35]3 years ago
5 0

Answer:

A)

Bank reconciliation:

Bank balance Augusts 31                    $18,340

+ Deposits in transit                              $2,830

<u>- Outstanding checks                           $3,520</u>

Reconciled bank account                   $17,650

Cash balance reconciliation:

Cash balance August 31                     $17,350

+ Error in recording check                      $360

<u>- Bank fees                                                 $60</u>

Reconciled cash account                   $17,650

B) Cash account balance $17,650

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An increase in the real wage would result in a:________. a. shift of the labor demand curve, causing an increase in the number o
barxatty [35]

Option C

An increase in the real wage would result in a: movement along the labor demand curve, causing a decrease in the number of workers hired by the firm.

<u>Explanation:</u>

The wage rate is circumscribed by the crossing of supply and demand for labor. The demand curve depends on the marginal product of labor and the cost of the good labor originates.

A variation in the wage or payroll will end in a shift in the amount necessitated of labor. If the wage rate increases, organizations will require to hire fewer employees. The quantity of labor demanded will decline, and there will be a movement skyward on the demand curve.

5 0
3 years ago
describe the difference between autonomous expenditure and induced expenditure. Which sectors of the economy are assumed to have
Vika [28.1K]

Answer:

The difference between autonomous expenditure and induced expenditure is as follows:

The autonomous expenditure is incurred even without a disposable income.  The expenditure is incurred to provide basic necessities of life.  In such a situation, the person spends from savings account or borrows to ensure that the basic necessities are provided.

On the other hand, induced expenditure is a disposable income-based expenditure.  This implies that when disposable income rises, induced expenditure also rises, and vice versa.  Induced expenditure is usually incurred to fund normal goods and services and not necessities.  Without disposable income, there is no induced expenditure.

All the four sectors of the economy engage in these expenditures.  The public (government) and household sectors are mostly affected.  However, even the business and non-profit sectors are also affected by these types of expenditure.

Explanation:

We can distinguish between two types of aggregate expenditure.  The first one is autonomous aggregate expenditure, which does not vary with the level of real GDP while induced aggregate expenditure varies with real GDP.

3 0
2 years ago
If a person deposited $50 a month for 6 years earning 8%, this would involve what type of computation?
Elenna [48]
C. Future value of a series of deposits

It is not B, because although Future Value of a Single Amount (FV) is similar, it is only when you deposit a certain amount one time and let it grow in value. 
Your question says they deposit money more than once, so it is C.
5 0
3 years ago
Read 2 more answers
Exercise 20-18 Budgeted cash receipts LO P2 Jasper Company has sales on account and for cash. Specifically, 70% of its sales are
horsena [70]

Answer:

$1,756,600.

Explanation:

                                         P2 Jasper Company

                                     Budgeted cash Receipt

                                           For the 2nd quarter

                                                           April                   May                  June

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30% in the month after Sale                                        $110,250        $112,350

Budgeted cash receipt                     $767,500           $484,750       $504,350

Total budgeted cash receipt for the 2nd quarter = $767,500 + $484,750 + $504,350 = $1,756,600.

30% in the month after sale means 30% amount will be received in the following month.

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3 years ago
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Answer:

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