Answer:
See below
Explanation:
Given the above information, the adjusted cash balance should be;
Cash book balance
$67,209
Add:
Interest earned
$45
Less;
Bank fees
($30)
Adjusted cash book
$67,224
Bank balance
$63,949
Add:
Deposit in transit
$6,050
Less:
Outstanding checks
($2,675)
Adjusted bank balance
$67,324
Answer:
1.50
Explanation:
The debt coverage ratio shows the extent to which the property is generating income in a bid to pay its debt service charge, it is computed using the below DSCR formula
DSCR= net operating income (NOI)/Debt service
net operating income (NOI)=$150,000
Debt service=interest expense or finance charge in the year=$100,000
DSCR=$150,000/$100,000
DSCR=1.50
The property in question is generating income that is 1.5 times its debt servce yearly
John's employer did, as W-2 forms are sent to employees and the IRS by employers.
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