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pickupchik [31]
3 years ago
9

Great Southeast ​Company's Cash account shows an ending balance of $ 660. The bank statement shows a $ 27 service charge and an

NSF check for $ 130. A $ 270 deposit is in​ transit, and outstanding checks total $ 310. What is Great Southeast​'s adjusted cash​ balance?
Business
1 answer:
Harman [31]3 years ago
4 0

Answer:

$503

Explanation:

The computation of the adjusted cash balance is shown below:

As we know that

Adjusted cash balance is = Cash ending balance - NSF Checks - Service charge

= $660 - $130 - $27

= $503

And we do not considered the other two items as they are not impact the cash balance

Basically we applied the above formula

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One way that criminal law differs from civil law is that it: provides remedies for violations of private rights. must yield a un
lara [203]

Answer:

Criminal law "must must yield a unanimous verdict."

Explanation:

Civil law refers to a body of law protecting individual rights. It handles disagreement between people, or organizations.

Criminal law deals with crimes commited against the state or federal government by an individual who breaks a criminal law.

Most civil cases don't make it to trial and are settled outside the courts.

A criminal case on the other hand, requires a unanimous verdict from the jury and sentencing by the judge. Anyone who commits a crime is at the mercy of the court.

7 0
2 years ago
Doogan Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or Rate Direct ma
telo118 [61]

Answer:

Direct material quantity variance= $6,300 unfavorable

Explanation:

Giving the following information:

Direct materials 2 grams $7.00 per gram

The company produced 4,600 units in January using 10,100 grams of direct material.

<u>To calculate the direct material quantity variance, we need to use the following formula:</u>

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (2*4,600 - 10,100)*7

Direct material quantity variance= $6,300 unfavorable

5 0
2 years ago
The 2021 income statement of Adrian Express reports sales of $20,710,000, cost of goods sold of $12,600,000, and net income of $
Verizon [17]

Answer:

Adrian Express

1. Five Profitability Ratios:

Gross profit ratio: = 39.2%

Return on assets = 20%

Profit margin = 9.6%

Asset turnover = 2.1 times

Return on equity = 37.4%

2. I think the company is:

Less profitable

than the industry average.

Explanation:

a) Data and Calculations:

Sales Revenue        $20,710,000

Cost of goods sold $12,600,000

Gross profit                $8,110,000

Net income               $1,980,000

ADRIAN EXPRESS

Balance Sheets

December 31, 2021 and 2020

                                                                          2021                  2020

Assets

Current assets:

Cash                                                              $840,000            $930,000

Accounts receivable                                     1,775,000            1,205,000

Inventory                                                      2,245,000            1,675,000

Current assets                                          $4,860,000          $3,810,000

Long-term assets                                        5,040,000            4,410,000

Total assets                                             $ 9,900,000         $8,220,000

Liabilities and Stockholders' Equity

Current liabilities                                     $ 2,074,000          $1,844,000

Long-term liabilities                                   2,526,000           2,584,000

Common stock                                          2,075,000           2,005,000

Retained earnings                                    3,225,000             1,787,000

Total Equity                                               5,300,000           3,792,000

Total liabilities & stockholders' equity   $9,900,000         $8,220,000

Industry averages for the following profitability ratios are as follows:

Gross profit ratio 45 %

Return on assets 25 %

Profit margin 15 %

Asset turnover 8.5 times

Return on equity 35 %

Gross profit ratio: = Gross profit/Sales * 100

= $8,110,000/$20,710,000 * 100

= 39.2%

Return on assets = Net income/Assets * 100

= $1,980,000/$9,900,000 * 100

= 20%

Profit margin = Net Income/Sales * 100

= $1,980,000/$20,710,000 * 100

= 9.6%

Asset turnover = Sales/Total Assets

= $20,710,000/$9,900,000 = 2.1 times

Return on equity = Net Income/Total Equity * 100

= $1,980,000/$5,300,000 * 100

= 37.4%

6 0
3 years ago
As Bart Brownlee approached retirement, he decided the time had come to invest some of his nest egg in a conservative fund. He c
Serga [27]

Answer:

$1,275

Explanation:

The computation of the amount of commission for paying is shown below:

= Invested amount × fund charges a load percentage

= $30,000 × 4.25%

= $1,275

By multiplying the invested amount with the fund charges a load percentage we can easily calculate the amount of commission and the same is to be considered

8 0
3 years ago
Anika knows that her company has a formal code of conduct, but she does not see this code being equally and consistently applied
Luda [366]

Answer:

<u>Opportunity</u>

Explanation:

A code of conduct creates a formal way of how employees maintain a standard of conduct while interacting and discussing ideas.

Such a conduct is essential for any organization since it implements the abidance by rules and organizational policies treating everybody equally and ensuring just and fair treatment to all.

In the given case, an employee observes the existence of a formal code of conduct at her workplace which is not implemented consistently at all levels and covering all employees.

Such negligence in implementation would lead to an enhancement of the possibility and creates an opportunity for employees to commit unscrupulous acts, being aware of the shortcomings in the implementation of such formal code of conduct.

7 0
3 years ago
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