Answer:
True cash balance $7,455
Explanation:
Calculation to Determine the true cash balance as of May
Unadjusted cash balance of $6,558
Add bank collection note $1,050
Add interest revenue $18
Less NSF check $86
Less service charges $85
True cash balance $7,455
Therefore True cash balance is $7,455
The correct answer among all of the given choices is C. Inventories.
Raw materials and products held by the firm for sale constitute INVENTORIES.
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Time or sequential order means that you are listing something based on a logical order – it can be a numerical or alphabetical order. Logical reasons order means that you are listing based on how you think it is best presented in order to convey your idea to the audience.
Narrative order is listing something based on how a story should best be told – it may not be sequential, but the intention is to create a cohesive storytelling. Topical order is explaining something starting with the problem first, then the solution.
From all these explanations, the best answer to the question would be (A) time or sequential order.
Under the IRS Method, you allocate more of the interest and taxes to the rental property. As a result, the rental deductions are more than the income and $1,407 of the depreciation deduction is disallowed. ... Decide which method is best for your clients in the first year they deduct rental expenses.