Answer:
The bank reconciliation statement is as shown below:
Amount in $
Balance per bank statement 33,650.00
Deposit in transit 9,150.00
Outstanding check (17,865.00)
Bank charges 80.00
Note collected (6,095.00)
Returned check (540.00)
Check drawn <u> (630.00)
</u>
Book balance <u> 17,750.00</u><u> </u>
Explanation:
Deposit in transit has been recorded in the books, thus the addition to the bank balance. Bank charges have been deducted from the bank balance but not in the cash book hence it is added back. Note collected is yet to be recognized in the books hence the deduction from the bank balance.
Amount recorded from the check returned is more than the actual by $540 hence the deduction. The check drawn has been over charged by the bank to the tune of $630 hence the deduction.
The best contraceptive for them to use is condom.
The use of condom will protect them to some extent from all types of sexually transmitted diseases and the method does not have any side effect. The only disadvantage that is attached to it is that, the condom may break if not properly inserted or if it has expired.
For low levels of output, aggregate supply curves are comparatively flat; for high levels of output, they are comparatively steep.
<h3>What is aggregate supply? </h3>
The total amount of merchandise that businesses will produce and sell is known as aggregate supply, or real GDP. The positive association between price level and real GDP in the short run is demonstrated by the upward-sloping aggregate supply curve, also known as the short run aggregate supply curve.
Price, time, employer remuneration, technical breakthroughs, inflation and deflation, governmental rules, and the availability of resources are some of the variables that influence the aggregate supply curves.
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Answer and Explanation:
1. The 8.4% bonds should be classified as "current liability" in Transit's balance sheet. This is because there is an option of calling the bonds on July 31, 2017 and if the bond holders demand payment then the liability will have to be paid on July 31, 2017 and this will represent a period that is less than a year (from December 31, 2016 to July 31, 2017).
The amount to be recorded will be $67 million.
2. The 8% loan of $45 million will be recorded as a "long term liability". This is because the loan is payable in the year 2022 and so will be in the books for a period of more than one year. Also the decline in parts inventories is intentional and will be corrected. This will ensure that current ratio is in the required range.
The amount to be recorded is $45 million i.e. the amount of the loan.
3. The amount of $53 million - $48 million = $5 million will mature in May 2017. As the period is less than a year it will be recorded as a "current liability" and the amount will be $5 million.
The balance amount of $48 million will mature in two years from the date of borrowing. Hence the amount of $48 million will be recorded as a "long term liability".
4. For the lawsuit a disclosure note should be provided. This is because the suit is in appeal and as per accounting laws will not be considered probable.
5. Total current liabilities = accounts payable+8.4% bonds+current portion of 4% notes = $55 million+$67 million+$5 million = $127 million
Long term debt = 8% bank loan+4% notes = $45 million+$48 million = $93 million.
Total liabilities = current+long term = 127+93 = $220 million
Answer:
Under oligopolistic competition the market consists of only a few large sellers
Explanation:
- Oligopolistic competition is a situation where there are few sellers, who individually can influenced over prices or quantities on the market, conditioned to others' sellers actions.
- In oligopolistic competition interactions between competitors is strategic: each of them takes into account others sellers possible actions before acting.
