Traditional IRA grows tax free? True or False

Mamont248 [21]

The answer is d. quantity demanded equals quantity supplied

5 0

4 years ago

Clayborn Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of b

Kazeer [188]

Answer:

Adjusted cash balance : $25850

Explanation:

The goal of a reconciliation statement is to ascertain the differences between the banks records and the depositor’s records and make accounting changes as deemed appropriate. There is a general flow that is used to make the correcting entries:

1. The process flow starts with the bank’s ending cash balance

2. Add any deposits made by the company to the bank that are in transit

3. Deduct any cheques that are uncleared by the bank

4. Add or deduct any other differences available as necessary

5. In the company bank records, once again start with the ending balance

6. Add interests earned

7. Deduct any bank service fees, penalties and NSF (Non-Sufficient Funds) cheques.

8. Add or deduct any other differences available as necessary

At the end of this process, it is likely that both accounts would be equal and tally.

Please refer attached table for details on the calculation.

6 0

3 years ago

During the month of May, a company performed $2,400 of cash services and $3,300 of services on account. The journal entry at the

Tanya [424]

Answer:

Debit : Cash $2,400

Debit : Account Receivables $3,300

Credit : Revenue $5,700

Explanation:

Revenue is recognized when a firm transfers the control of goods or services not when paid.

So this journal must both recognize the Assets in Cash and Assets in Trade Receivables since control for the services has already been transferred.

The journal entry at the end of the month to record this transaction would be :

Debit : Cash $2,400

Debit : Account Receivables $3,300

Credit : Revenue $5,700

3 0

3 years ago

1. The car dealer is offering a promotion on a new that the buyer pays zero interest over 72 months. The monthly payment is $350

inessss [21]

Answer:

selling price of this car is $22700

Explanation:

given data

zero interest = 72 months

monthly payment = $350

market interest rate = 3.5% per year = 0.2917 % per month

time = 6 year = 72 months

solution

we get here present value of annuity that is

present value annuity = ( 0.2917 % per month , 72 months )

present value annuity = 64.8568

so here selling price of car is

selling price = monthly payment × present value annuity ............1

selling price = $350 × 64.8568

selling price = $22700

so selling price of this car is $22700

8 0

3 years ago

Lawn maintenance is an alternative energy source career. A. True B. False

Rainbow [258]

Answer:

False

Explanation:

Lawn maintenance isn't

4 0

3 years ago