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Liono4ka [1.6K]
3 years ago
12

At July 31, Cullumber Company has this bank information: cash balance per bank $7,310, outstanding checks $715, deposits in tran

sit $1,305 and a bank service charge $20. Determine the adjusted cash balance per bank at July 31. The adjusted cash balance per bank at July 31 $
Business
1 answer:
Luba_88 [7]3 years ago
5 0

Answer:

$7,900

Explanation:

In Bank reconciliation statement the balances of Bank statement and the Balance from cash register is adjusted to calculated the adjusted cash balance for reporting at the end of the period. This is due to some outstanding deposits and Payment and other experiences which makes a difference between the bank statement balance and cash register balance.

Cash balance per bank = $7,310

Outstanding checks are those check which has been issued but not been presented in the bank yet. Deposit in transit is the amount of deposit which is pending in the clearing process.

Adjusted Balance = Cash Balance per bank - Outstanding Checks + Deposit in transit = $7,310 - $715 + $1,305 = $7,900

Bank charges are already adjusted in the cash balance per bank.

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3 years ago
A firm has a tax burden of 0.9,a leverage ratio of 1.1, an interest burden of 0.6, and a return-on-sales ratio of 13%. The firm
Afina-wow [57]

Answer:

the firm's ROE is 20%

Explanation:

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3 years ago
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Nadusha1986 [10]

Answer:

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Have a nice day!

4 0
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Papessa [141]

The broker should refuse to release the earnest money even after the  seller requested the earnest money prior to the property inspection.

<h3>What is earnest money?</h3>

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Learn more about earnest money here : brainly.com/question/14342438

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2 years ago
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