Smallville has a linear production possibility frontier in the production of good X and good Y. It can produce 6 of X per hour o
1 answer:
Answer:
The maximum amount of good Y produced will be 960.
Explanation:
Smallville has a linear production possibility frontier in the production of good X and good Y.
It can produce 6 of X per hour or 8 of Y per hour.
It has 240 hours of labor and divides labor hours equally between the production of good X and good Y.
It means that both good X and good Y get 120 hours of labor each.
The amount of good Y produced in 120 hours
=
= 960 units
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Answer:
Adjusted cash balance : $25850
Explanation:
The goal of a reconciliation statement is to ascertain the differences between the banks records and the depositor’s records and make accounting changes as deemed appropriate. There is a general flow that is used to make the correcting entries:
1. The process flow starts with the bank’s ending cash balance
2. Add any deposits made by the company to the bank that are in transit
3. Deduct any cheques that are uncleared by the bank
4. Add or deduct any other differences available as necessary
5. In the company bank records, once again start with the ending balance
6. Add interests earned
7. Deduct any bank service fees, penalties and NSF (Non-Sufficient Funds) cheques.
8. Add or deduct any other differences available as necessary
At the end of this process, it is likely that both accounts would be equal and tally.
Please refer attached table for details on the calculation.
