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KengaRu [80]
2 years ago
14

Wright Company's cash account shows a $29,300 debit balance and its bank statement shows $27,600 on deposit at the close of busi

ness on May 31. a.The May 31 bank statement lists $190 in bank service charges; the company has not yet recorded the cost of these services. b.Outstanding checks as of May 31 total $6,500. c.May 31 cash receipts of $7,100 were placed in the bank’s night depository after banking hours and were not recorded on the May 31 bank statement. d.In reviewing the bank statement, a $490 check written by Smith Company was mistakenly drawn against Wright’s account. e.The bank statement shows a $420 NSF check from a customer; the company has not yet recorded this NSF check. Prepare its bank reconciliation using the above information.Prepare a bank reconciliation for the company using the above information
Business
1 answer:
IgorLugansk [536]2 years ago
6 0

Answer:

Bank Reconciliation Statement:

Calculation of Adjusted cash Balance on 31 May:

Cash Balance:                              $ 29,300

less: Bank Charges                      $ (190)

less: NSF Check                          <u> $ (420)</u>

Adjusted cash Book Balance      $ 28,690

Add: Outstanding Checks           $ 6,500

Less: Uncleared Checks              <u>$ 7,100</u>

Revised Cash Book Balance (A) <u>$ 28,090</u>

Bank Statement Balance               $ 27,600

Add: Error by Bank                         <u>$   490    </u>

Adjusted Bank Balance (B)           <u>$ 28,090</u>

Explanation:

Bank reconciliation is a company document prepared in order to reconcile difference between balance as per cash book and balance as per bank statement.

The difference arise because of two reasons:

  • Timing differences (Outstanding checks and Uncleared checks
  • Error and Omissions. (Bank charges -NSF)
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Portfolio AB has half of its funds invested in Stock A and half in Stock B. Portfolio ABC has one third of its funds invested in
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Answer:

a) Portfolio ABC's expected return is 10.66667%.

Explanation:

Some information is missing:

Stock                Expected         Standard             Beta

                         return              deviation

A                            10%                 20%                 1.0

B                            10%                  10%                 1.0

C                            12%                  12%                 1.4

The expected return or portfolio AB = (1/2 x 10%) + (1/2 x 10%) = 10% (it is the same as the required rate for stock A or B)

The expected return or portfolio ABC = (weight of stock A x expected return of stock A) +  (weight of stock B x expected return of stock B) + (weight of stock C x expected return of stock C) = (1/3 x 10%) + (1/3 x 10%) + (1/3 x 12%) = 3.333% + 3.333% + 4% = 10.667% <u>THIS IS CORRECT</u>

Options B, C, D and E are wrong.

5 0
3 years ago
How would a decrease in the price of the feed grains used to feed cattle affect the market for beef? a. The demand for beef woul
denis23 [38]

Answer: The supply of beef would increase, decreasing beef prices.

Explanation: if there is a decrease in the price of the feed grains used to feed cattle, it would leads to an increase in the supply of beef in the market and consequently decrease the price of beef in the market. It would result to an increase in the supply of beef because the cattle rearers would have enough feeds for the cattle which will make them grow faster.

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3 years ago
Judy's Boutique just paid an annual dividend of $3.73 on its common stock. The firm increases its dividend by 3.40 percent annua
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Answer:

cost of equity = 12.16 %

Explanation:

given data

annual dividend of $3.73

increases dividend = 3.40 percent annually

stock price = $43.96 per share

to find out

What is the company's cost of equity

solution

we will use here Gordon model for compute company's cost of equity that is

market value = \frac{dividend* ( 1+growth\ rate)}{cost\ of\ equity - Growth\ rate}         ........................1

put here value we get

43.96 = \frac{3.73* ( 1+0.034)}{cost\ of\ equity - 0.034}

solve it we get

cost of equity =  0.121735

cost of equity = 12.16 %

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Answer:

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Behavioural Substitution is thus the concept that the human resources department has displayed in their analysis and engagement. For one, behavioural substitution is simply the procedures aimed at replacing and/or supplanting efforts and actions that does not lead to goal accomplishments. By general belief, the old style of reward system used by Martianse has been seen as one not leading to goal actualization. Hence, it is important to substitute this non productive reward system with one established to elicit more better and improved performance from the workforce.

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