1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
xz_007 [3.2K]
2 years ago
6

According to the Portland Business Journal, Jim Houser, a Portland auto specialist, landed a key Small Business Administration a

ppointment. Help Jim reconcile Remington’s Auto Clinic’s checkbook and bank balance according to the following: bank statement balance, $18,835; checkbook balance, $22,385,105; interest earned, $4,020; deposits in transit, $100,740 and $22,376,200; ATM card fees, $450; outstanding checks—No. 10189, $56,710; No. 10192, $15,365; No. 10193, $22,650; and No. 10194, $12,375.
Business
1 answer:
mario62 [17]2 years ago
7 0

Answer:

reconciliate balance $ 22,388,675‬

Explanation:

bank statement:                18,835

deposits in transit           100,740

                                 22,376,200

outstanding check

  10189                            (56,710)

  10192                            (15,365)

  10193                           (22,650)

  10194                            (12,375)

Adjusted balance:  22,388,675‬

checkbook balance: 22,385,105

      interest earned           4,020

      ATM card fees              (450)

  Adjusted balance:  22,388,675

Notes: For each statement we adjust for the unknown information.

The bank is unaware of the outstanding check and the deposit in transit.  So we adjust for these concepts.

The company has no knowledge of the ffes and interest earned until receiving the bank statement so we must adjust for that amount.

You might be interested in
Today, a firm has a stock price of $14.26 and an EPS of $1.15. Its close competitor has an EPS of $0.48. What would be the expec
serg [7]

Answer:

$5.952

Explanation:

For the computation of expected price of the competitor's stock first we need to find out the P/E ratio of a firm which is shown below:-

P/E ratio of a firm = Stock price ÷ Earning per share

= $14.26 ÷ $1.15

= $12.4

Price of competitor's stock = P/E ratio of a firm × Earning per share

= $12.4 × $0.48

= $5.952

Therefore for computing the expected price of the competitor's stock we simply applied the above formula.

7 0
3 years ago
If Marriott used a single corporate hurdle rate for evaluating investment opportunities in each of its lines of business, what w
jolli1 [7]

Answer:

Explanation:

If a company(Marriott in this case) uses a single hurdle rate to decide whether an investment should be undertaken or not, some projects that need to be accepted would end up being rejected and vice versa. For example,

if Marriott's hurdle rate is 10% and it's evaluating

project A with a 15% cost of capital &

project B with a 6% cost of capital .

Evaluation:

Project A would probably lead to a negative NPV because the cost of capital is higher (meaning it is riskier than the firm) hence could be rejected, but using the company hurdle rate of 10% to evaluate it could make its NPV positive. This would ignore the actual additional risk of the project.

5 0
3 years ago
The basic concepts of financial management are the same for all businesses, regardless of how they are organized. However, a fir
My name is Ann [436]

Answer:

1) - proprietorships.

2) - corporations.

3) - proprietorships.

4) - corporations.

Explanation:

So far as figures are concerned, the majority of companies are proprietorships. Even so, mostly based on currency sales revenue, almost all of the trade is conducted by corporations. Businesses are mostly founded as proprietorships and only transformed into corporations until their success results in drawbacks that overshadow the benefits.

So, the following are the reason that describes the following answers are true according to the given scenario.

3 0
3 years ago
The Jolly Partnership reported the following items for the current year: Income from clients $190,000 Short-term capital gains 1
Delicious77 [7]

Answer:

$ 193,000

Explanation:

Ordinary Income means the money earned from working. The ordinary income may include hourly salaries and wages, commissions, interest income, from bonds, capital gains, royalties or income from ordinary course of business.

So the ordinary income for Jolly Partnership is:

Income from clients $ 190,000

Capital gains            $      1,000

Dividend Income      $<u>     2,000</u>

Ordinary Income:      $<u> 193,000</u>  

4 0
3 years ago
A party who agrees to act on behalf of another person or party is called a( n ) ________.
IceJOKER [234]
<span>A party who agrees to act on behalf of another person or party is called an agent.</span>
6 0
3 years ago
Other questions:
  • Which of these is an effective way of guiding, modifying, and disciplining a child?
    12·1 answer
  • Blue Spruce Architects incorporated as licensed architects on April 1, 2022. During the first month of the operation of the busi
    6·1 answer
  • Why do you think economists can be certain that every
    12·1 answer
  • Which of the following is not a business management perspective that goes beyond the numbers to enable intelligent planning, con
    14·1 answer
  • ​(Cost of​ debt) Belton Distribution Company is issuing a ​$1 comma 000 par value bond that pays 8.9 percent annual interest and
    13·1 answer
  • Jerome is training to be a vacuum cleaner sales person. initially, he got paid for each customer he called on, even if the custo
    8·1 answer
  • Suppose that you take $150 in currency out of your pocket and deposit it in your checking account. If the required reserve ratio
    11·1 answer
  • Question 5 of 10
    8·1 answer
  • Week 1: Roles and Responsibilities in the Procurement Cycle
    5·1 answer
  • Your client and her husband agreed to split the following lifetime cash gifts: Total Gifts to Son Total Gifts to Daughter 2014 $
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!