____________is defined by Sage as "a system of interdependent ideas that explain and justify particular political, economic, mor
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Answer:
the internal rate of return is 6%
Explanation:
The computation of the internal rate of return is shown below;
Given that
Years Cash flows
0 -$20,790
1 $6,000
2 $6,000
3 $6,000
4 $6,000
Now apply the following formula i.e..
= IRR()
After applying the above formula, the internal rate of return is 6%
Answer and Explanation:
The Preparation of bank reconciliation for Cougar Corp. as of December 31 is shown below:-
<u>Cougar Corp.</u>
<u>Bank reconciliation</u>
<u>For the year ended December 31</u>
<u>Particulars Amount</u>
Bank balance Dec 31 $24,575
Add: Deposit in transit $2,500
Less:
Outstanding checks #302 ($180)
Outstanding checks #303 ($95)
Outstanding checks #304 ($25) ($300)
Bank balance adjusted $26,775
Cash balance on 31 Dec $26,504
Add: EFT from customer $1,700
Add: Interest income $21 $1,721
Less: Posting error
($5,400 - $4,500) $900
Less: NSF check $500 $1,400
Book balance adjusted $26,775
Hence, the bank balance and the book balance are matched
