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ryzh [129]
3 years ago
8

Winter Gloves Company had checks outstanding totaling $6,400 on its May bank reconciliation. In June, Winter Gloves Company issu

ed checks totaling $39,900. The July bank statement shows that $35,000 in checks cleared the bank in July. A check from one of Winter Gloves Company's customers in the amount of $1,000 was also returned marked "NSF." The amount of outstanding checks on Winter Gloves Company's July bank reconciliation should be a. $4,200. b. $9,600. c. $10,600. d. $11,600.
Business
1 answer:
Ostrovityanka [42]3 years ago
7 0

Answer:

$11,300

Explanation:

The computation of the amount of outstanding checks is shown below:

Outstanding checks in the month of May = $6,400

Now

Checks outstanding in the month of July is

= $39,900 - $35,000

= $4,900

So, the total amount of outstanding checks is

= $6,400 + $4,900

= $11,300

This is the amount but the same is not mentioned in the given options

We simply added the May outstanding checks and July outstanding checks

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The following budget information is available for Crescent Company for January Year 2: Sales $ 800,000 Cost of goods sold 540,00
saw5 [17]

Answer:

$232,500

Explanation:

The computation of the amount of expected cash outflows for selling and admin expenses is shown below:

Utilities expense  $2,500

Administrative salaries $100,000

Sales commission ($800,000 ×  5%) $40,000

Advertising $20,000

Rent on administrative building $60,000

Miscellaneous administrative expenses $10,000

Total budgeted cash sales and administrative expenses $232,500

We added those expenses which affect the cash balance i.e decrease in cash balance so that the correct amount could arrive

All other items are not relevant. hence,ignored it

8 0
3 years ago
Why is economic growth important? Choose all that apply.
Sonja [21]

Answer:

Hi.

Explanation:

Just visited this site >> http://mavizion.com AND I JUST VERY SATISFIED! My advice is!

3 0
3 years ago
Suppose the economy is producing at the natural rate of output. An increase in consumer and business confidence will cause _____
Leokris [45]

Answer:

d) no change; a decrease

Explanation:

The Real GDP (gross domestic product) is a macroeconomic term which is the measurement of the value of services and goods produced by economy in a certain or specific time period compared to normal GDP.  The influencer elements of Real GDP are very miscellaneous due to long run and short run periods. Then, the determinants which impact on the long run growth of an economy are:

1) Growth of productivity that means the ratio of economic outputs to inputs

2)Demographic changed that means the change of quantity or quality of employment, age structure and etc.

3)Labor Force participation which means that which amount participation there is in labor activities.

As seen above, the consumer and business confidence will not have any positive or negative effect on the real GDP.

Inflation is one of the most important macroeconomic indicator that intends the rate how the purchase power of the money is falling  by the rising on the price levels of goods and services. In long run, the most influencing element for inflation is the rate of money supply but if we consider business and consumer confidence are the positive things for the developing of GDP, then they will have a little bit decrease effect on inflation.

8 0
3 years ago
Alan, 46, and Donna, 33, are filing a joint return for 2019. Neither is blind, and neither can be claimed as a dependent. They d
maksim [4K]

Answer:

$24,400

Explanation:

Assuming that Alan and Donna are married and they decide to file their taxes together, the standard deduction for 2019 taxes was $24,400.

The standard deduction increases if you or your spouse is over 65 years old, or if any of you is blind. The standard deduction generally increases a little bit every year, e.g. during 2018 it was $24,000 and for 2020 it is $24,800.

8 0
3 years ago
Someone who invests in the vanguard index 500 mutual fund would most accurately be described as using which approach?
Ede4ka [16]

Answer:

Passive investment

<h3>What is Passive Investment?</h3>
  • Passive investment refers to an investment strategy used by investors to increase their returns by selling and buying.
  • Investors use this investment strategy to prevent some fees and cut out limited performance that may likely accompany regular trading.

Some of these benefits include:

Transparency: investors do know the assets in an index fund

Extreme low fees: monitoring is not necessary simply because no one is picking stocks

Tax efficiency: this strategy does not lead to a yearly tax of massive capital gains since passive investors only buy and hold.

Simplicity: Owning an index is very easy to implement and understand when compared to a dynamic strategy that involves regular adjustment and research.

To learn more about it, refer

to brainly.com/question/26386481

#SPJ4

8 0
2 years ago
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