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MArishka [77]
2 years ago
13

The following data were gathered to use in reconciling the bank account of Savannah Company: Balance per bank $16,750 Balance pe

r company records 16,125 Bank service charges 80 Deposit in transit 2,195 NSF check 950 Outstanding checks 3,850 What is the adjusted balance on the bank reconciliation?
Business
1 answer:
Reika [66]2 years ago
6 0

Answer:

Adjusted Balance as per bank statement = $15,095

Adjusted Balance as per book = $15,095

Explanation:

given data

Balance per bank = $16,750

Balance per company records = 16,125

Bank service charges = 80

Deposit in transit = 2,195

NSF check = 950

Outstanding checks = 3,850

to find out

What is the adjusted balance on the bank reconciliation

solution

first we get here Adjusted Balance as per bank statement that is express as

Adjusted Balance as per bank statement = Balance per bank + Deposit in transit Outstanding checks     .......................1

put here value

Adjusted Balance as per bank statement = $16,750 + $2,195 - $3,850

Adjusted Balance as per bank statement = $15,095

and

Adjusted Balance as per book  will be here as

Adjusted Balance as per book = Balance per company record - Bank Service charges - NSF checks     ......................2

put here value

Adjusted Balance as per book = $16,125 - $80 - $950

so

Adjusted Balance as per book = $15,095

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2 years ago
What do student do in CTSO name one example
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a student organization that contributes to the preparation of a world-class workforce through the advancement of leadership, citizenship, academic, and technological skills for students at the Secondary and the Post-Secondary level.

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7 0
3 years ago
We use statistics when making decisions, rather than parameters, because ________________.
natka813 [3]

Statistics are used in place of parameters for making decisions since they are simpler to collect.

<h3>What are the guidelines?</h3>

In general, a parameter is any feature that aids in describing or categorizing a certain system. In other words, a parameter is a component of a system that is crucial or useful for identifying the system or assessing its functionality, status, or other characteristics.

To describe the entire population under study, a parameter is utilized. For instance, we are interested in learning the typical length of a butterfly. This information about the total butterfly population makes it a parameter.

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4 0
1 year ago
Winston Company’s high and low level of activity last year was 60,000 units produced in April and 20,000 units produced in Decem
horsena [70]

Answer:

Total cost= $36,000

Explanation:

Giving the following information:

Winston Company’s high and low level of activity last year was 60,000 units produced in April and 20,000 units produced in December. Machine maintenance costs were $52,000 in April and $20,000 in December.

<u>To calculate the total cost, first, we need to calculate the unitary variable cost. With the unitary variable cost, we can calculate the fixed costs. Then, the total cost at 40,000 units.</u>

Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)

Variable cost per unit= (52,000 - 20,000) / (60,000 - 20,000)= $0.8 per unit

Now, we calculate the fixed costs:

Fixed costs= Highest activity cost - (Variable cost per unit * HAU)

Fixed costs= 52,000 - (0.8*60,000)= $4,000

Fixed costs= LAC - (Variable cost per unit* LAU)

Fixed costs= 20,000 - (0.8*20,000)= $4,000

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5 0
3 years ago
Every worker sees a social security (fica) tax taken out of his or her paycheck. the nominal tax rate on workers is 7.65 percent
denpristay [2]
Part A:

Because, there is a ceiling on the amount of earnings that is taxable. Any earning below the ceiling will be taxed at 7.65% of the earning while any earning above the eiling will be taxed at 7.65% of the ceiling.

Given that the ceiling on the amount that is taxable is $117,000. If a worker earns $40,000, then the worker's FICA tax will be 7.65% of $40,000 = 0.0765 x $40,000 = $3,060

Therefore, the percentage of income that is paid in social security taxes by a worker in 2014 earning $40,000 is 7.65%



Part B:

Because, there is a ceiling on the amount of earnings that is taxable. Any earning below the ceiling will be taxed at 7.65% of the earning while any earning above the eiling will be taxed at 7.65% of the ceiling.

Given that the ceiling on the amount that is taxable is $117,000. If a worker earns $80,000, then the worker's FICA tax will be 7.65% of $80,000 = 0.0765 x $80,000 = $6,120

Therefore, the <span>percentage of income that is paid in social security taxes by a worker in 2014 earning</span> $80,000 is 7.65%


Part C:

Because, there is a ceiling on the amount of earnings that is taxable. Any earning below the ceiling will be taxed at 7.65% of the earning while any earning above the eiling will be taxed at 7.65% of the ceiling.

Given that the ceiling on the amount that is taxable is $117,000. If a worker earns $200,000, then the worker's FICA tax will be 7.65% of $117,000 = 0.0765 x $117,000 = $8,950.50

Therefore, the percentage of income that is paid in social security taxes by a worker in 2014 earning $200,000 is given by

\frac{8950.5}{200000} \times100\%=4.48\%
8 0
3 years ago
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