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3 years ago

"Which one of the following items requires an adjustment on the bank side of the bank reconciliation?

Business

1 answer:

ale4655 [162]3 years ago

5 0

Answer:

Deposits in transit

Explanation:

A company's deposit in transit is the currency and customers' checks that have been received and are rightfully reported as cash on the date received, and the amount will not appear on the company's bank statement until a later date. A deposit in transit is also known as an outstanding deposit.

When there is a deposit in transit, the amount should be listed on the company's bank reconciliation as an addition to the balance per bank.

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You are in talks to settle a potential lawsuit. The defendant has offered to make annual payments of $27,000, $31,000, $64,000,

Citrus2011 [14]

Answer:

$188,625.23

Explanation:

Data provided in the question:

Annual payments made : $27,000, $31,000, $64,000, and $96,000

Now,

Present value = ( Cash flow ) ÷ ( 1 + r )ⁿ

Here,

r is the interest rate = 4.9% = 0.049

n = year

thus,

Year Cash flow Present value

1 $27,000 $25,738.79

2 $31,000 $28171.55

3 $64,000 $55443.86

4 $96,000 $79281.03

======================================

Value of settlement today = $188,625.23

5 0

3 years ago

Jimmy rents a chainsaw from the department store to work on his yard. the total cast c(x) in dollars is given by c(x)=9.99+3.00x

Ad libitum [116K]

<span>The rental agreement includes a 9.99 fee and 3 dollars a day. For example one day will cost 9.99+3x1 OR 9.99 + 3 = 12.99. Two days will cost 9.99+3x2 = 15.99. Ten days will cost 9.99+10x3 = 39.99.</span>

3 0

3 years ago

As you start consuming potato chips, your marginal utility is very high, but begins to fall slowly until you've eaten 10 chips.

avanturin [10]

Answer:

The law of diminishing marginal utility.

Explanation:

Marginal utility is basically satisfaction derived from consuming an extra unit of product. According to the law of diminishing marginal utility as consumption increases the marginal utility derived from each additional unit decreases.

So when we consume 1 chips marginal utility is high, then as more is consumed we still get some positive utility out of it but at a decreasing rate now. At some point this utility equals zero after which it starts declining as more chips are consumed because it is not providing any satisfaction now. Therefore the chips should be consumed only up to the point where the marginal utility equal zero.

7 0

3 years ago

Larry drinks a 12-pack of beer each day and believes all would be fine if people would just "get off his back." which criterion

Triss [41]

The criterion of abnormality that is absent from the given scenario above is personal discomfort. Personal discomfort is present when an individual is experiencing an emotional reaction in which is caused by factors such as stress that would lead to anxiety or discomfort.

5 0

4 years ago

At its inception, Peacock Company purchased land for $50,000 and a building for $220,000. After exactly 4 years, it transferred

Viktor [21]

Answer:

Selvick company should record the building at $220,000 and accumulation depreciation of $44,000

Explanation:

The computation of deprecation is shown below:

Depreciation = (Original cost - salvage value) ÷ useful life

where,

Original cost is $220,000

Salvage value is 0

And, the useful life is 20 years

Now put these values to the above formula

So, the answer would be equal to

= $220,000 - 0 ÷ 20

= $11,000

And, the accumulated depreciation would be

= Depreciation × number of years

= $11,000 × 4

= $44,000

we ignored other information which is given in the question, as we have to compute the depreciation through Straight line method.

Hence, Selvick company should record the building at $220,000 and accumulation depreciation of $44,000

7 0

3 years ago