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LiRa [457]
3 years ago
7

Harry owes the bank money. To repay his debt, he paid 150 dollar sign, 150 back to the bank each month. After 10 months, his rem

aining debt was 6900 dollar sign, 6900. What was the original amount of Harry's debt?
Business
1 answer:
Jobisdone [24]3 years ago
8 0

Answer:

$8,400

Explanation:

Harry has paid for ten months already, $150 each month.

Total debt Harry has paid till date is= 150*10= $1,500

Harry's outstanding debt is $6,900

So the total loan he collected= (Debt already paid)*(Outstanding debt)

= 6,900+ 1,500

= $8,400

Note: This solution is based on the assumption that no interest payments were made by Harry. This was not given in the question

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Answer:

B. EBIT times one minus the tax rate plus depreciation

Explanation:

The formula to calculate the operating cash flow is given below:

Operating cash flow = EBIT + Depreciation expenses - Income tax expense

The EBIT stands for earning before interest and taxes

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The operating cash flow is the amount which is left after paying all the expenses related to cash

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6 0
1 year ago
A bank reconciliation:Group of answer choicesis a formal financial statementboth A and B are correctis part of a sound internal
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The Correct question reads;

Which of the following statements about bank reconciliations is correct?

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Answer:

<u>a. Should not be prepared by an employee who handles cash transactions</u>

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It is only a bank that prepares a bank reconciliation statement. So, it is correct to say that a bank reconciliation statement should not be prepared by an employee who handles cash transactions.

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