Explain the type of data the following scenario describes.

In preparing its August 31, 2020 bank reconciliation, Bing Corp. has available the following information:

pav-90 [236]

Answer:

a. $19,800

Explanation:

The computation of the correct cash balance is shown below:

= Balance per bank statement + Deposit in transit - Outstanding checks

= $18,650 + $3,900 - $2,750

= $19,800

We simply added the deposits and deducted the outstanding checks to the bank balance so that the accurate amount can come.

All other information which is given is not relevant. Hence, ignored it

4 0

4 years ago

Which of the following is a reason you can be fired under an employment at

borishaifa [10]

Answer:

A

Explanation:

Cause they might need new people if they relocate Nd might fire a lot of ppl if the working space is small

5 0

3 years ago

The following information pertains to Carla Vista Company.

Setler [38]

Answer:

Bank account reconciliation:

Bank account balance $7,738

+ Deposits in transit $3,110

- Outstanding checks $696

Reconciled bank account $10,152

Cash account reconciliation:

Cash account balance $7,774

+ Note (or account) collected $2,426

- Bank fees $48

Reconciled cash account $10,152

Adjusting journal entries:

July 31, 202x, bank fees expense

Dr Bank fees expense 48

Cr Cash 48

July 31, 202x, bank fees expense

Dr Cash 2,426

Cr Notes (or accounts) receivable 2,426

3 0

3 years ago

Rossiter Restaurants is analyzing a project that requires $180,000 of fixed assets. When the project ends, those assets are expe

Leviafan [203]

Answer:

Cash in-flow in the last year.

Explanation:

Salvage value, also known as residual value, is the amount that you receive from sale of Property, Plant, and Equipment at the end of useful life. When computing the NPV of any project, we consider all the relevant cash flows of that project. Since, $45,000 will be received when project ends from sale of Fixed asset, so this figure will be treated as Cash in-flow and discounted.

8 0

3 years ago

Selling price per unit is $68

kari74 [83]

Answer:

Income statement

Sales Revenue $ 612,000

Variable Overhead cost $ (315,000)

Fixed manufacturing overhead $ ( 126,000)

Gross Profit $ 171,000

Variable Operating expenses $ ( 27,000)

Fixed Operating expenses $( 93,000)

Net Income $ 51,000

Explanation:

Income statement

Sales Revenue ( 9,000 units * $ 68) $ 612,000

Variable Overhead cost ( 9,000 * $ 35 ) $ (315,000)

Fixed manufacturing overhead $ ( 126,000)

Gross Profit $ 171,000

Variable Operating expenses ( $ 3 * 9000 units) $ ( 27,000)

Fixed Operating expenses $( 93,000)

Net Income $ 51,000

4 0

3 years ago