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Ivan
2 years ago
7

Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank stat

ement shows $18,361 on deposit in the bank. Ryan's comparison of the bank statement to its cash account revealed the following: Deposit in transit 1,450 Outstanding checks 837 Additionally, a $29 check written and recorded by the company correctly was recorded by the bank as a $92 deduction. The adjusted cash balance per the bank records should be:
Business
1 answer:
Sergio039 [100]2 years ago
5 0

Answer: $19037

Explanation:

The following can be deduced from the question:

Balance per Bank statement = $18361

Add: Deposits in Transit = $1450

Add: Bank error = $63

Less: Outstanding check = $837

Adjusted cash Balance per Bank:

= ($18361 + $1450 + $63) - $837

= $19874 - $837

= $19037

The adjusted cash balance per the bank records should be $19037.

N.B: The bank error was gotten as the difference between $92 and $29. $92 - $29 = $63

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To get it out of His hands

Explanation:

Just tired and ready to let it go

4 0
2 years ago
Parmesan Company uses the direct method for its statement of cash flow. It reports the following information regarding the year
Nastasia [14]

Answer: $‭196,800‬

Explanation:

The cash payments to suppliers for inventory purchases will be:

= Cost of goods sold - Decrease in inventory -  Increase in accounts payable

Decrease in inventory = 23,500 - 17,800

= $5,700

Increase in accounts payable

= 13,500 - 6,000

= $7,500

Cash to suppliers for inventory = 210,000 - 5,700 - 7,500

= $‭196,800‬

5 0
3 years ago
James borrows $300,000 for a home from Bank A. Bank A resells the right to collect on that loan to Bank B. Bank B securitizes th
sattari [20]

Answer:

D) AIG

Explanation:

We went back in time to 2008 and we are in the middle of the subprime mortgage crisis. This is an example of how mortgage backed securities and collateralized debt obligations worked.

The problem with this scenario is that in order for every company involved to be able to make a profit, the mortgages' interest rates skyrocketed which made it harder for families to pay back their loans. This eventually made the families lose their houses and that was the end to the housing bubble and the whole economy collapsed.

6 0
3 years ago
How does a Fire Prevention Plan benefit your workplace? Select the 2 answer options that apply. It’s less likely that a fire wil
lbvjy [14]

Answer:

It is less likely that  injuries will occur during an emergency  

Its less likely that damage will occur during an emergency  

are the correct options.

Explanation:

A fire prevention program eliminates or reduces the occurrence of fires by training people in fire safety.

The fire prevention plan should include: The list of all <em>major fire hazards, proper storage procedures  and handling procedures for hazardous materials, the various types of fire protection equipment required to control major hazard, potential ignition sources and their control</em><em><u>. </u></em>

A fire needs fuel, heat and oxygen, without oxygen, fuel and heat a fire cannot start. So the strategy to prevent fire should try to remove one of more of these elements.

5 0
3 years ago
Read 2 more answers
22. At the end of each year for the next 18 years, you receive cash flows of $3700. The initial investment is $25,200 today. Wha
IrinaK [193]

Answer:

29.37%

Explanation:

Rate of return = Average annual income/Average initial investment

Average annual income = $3,700

Average initial investment = (I+s)/2

Average initial investment = (25,200+0)/2

Average initial investment = $12,600

Rate of return = $3,700/$12,600

Rate of return = 0.2936508

Rate of return = 29.37%

6 0
3 years ago
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