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Olenka [21]
3 years ago
8

Entries for Bank Reconciliation The following data were accumulated for use in reconciling the bank account of Mathers Co. for J

uly: Cash balance according to the company's records at July 31, $32,110. Cash balance according to the bank statement at July 31, $31,350. Checks outstanding, $2,870. Deposit in transit, not recorded by bank, $4,150. A check for $170 in payment of an account was erroneously recorded in the check register as $710. Bank debit memo for service charges, $20. Journalize the entries that should be made by the company, part (A) Error and part (B) Service Charge
Business
1 answer:
mario62 [17]3 years ago
5 0

Explanation:

The journal entries are as follows

a. Cash $540

         To Account payable $540

(Being the error is recorded)

It is computed below:

= Corrected amount - incorrect amount

= $710 - $170

= $540

b. Bank service charges $20

          To Cash $20

(Being the bank services charges are paid in cash is recorded)

All other information is ignored

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Sara spends $25 for an all-day ticket to an amusement park. After one ride, it begins to rain and she wishes she had never come.
iren2701 [21]

Answer:

False.

Explanation:

False, it is given that Sara spends $25 for all-day ticket in the amusement park. However, this is a shuck cost that she can not recover. Moreover, she has taken one ride so marginal analysis shows that all his $25 is not wasted. She has utilized some portion of their money so we can not say that she has wasted all his money.

7 0
3 years ago
daily enterprises is purchasing a $10 million machine. it will cost $50,000 to transport and install the machine. the machine ha
kupik [55]

The machine's annual depreciation costs are calculated by dividing the machine's purchase price by its installation cost over a 5-year period:Depreciation costs equal (10,700,000 + 56,000) / Number of Years divided by five, or $2,151,200.

The value of a fixed asset less the total accumulated depreciation that has been recorded against it is its depreciated cost. The total amount of capital that is "used up" in a certain time frame, such as a fiscal year, is referred to as the depreciated cost in a broader economic sense. The accuracy with which depreciation is calculated allows one to assess patterns in a company's capital expenditures and how aggressive its accounting practices are. The terms "salvage value," "net book value," and "adjusted cost base" are all synonyms for "depreciated cost." Businesses and private individuals can calculate an asset's useful worth using the depreciated cost technique of asset appraisal.

learn more about depreciation costs here:

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7 0
1 year ago
To prevent loss of work on the computer, it is essential to:
Aneli [31]

Answer:

B. save your document frequently

Explanation:

Saving your documents time to time will prevent loss of work on computer which could be possible due to different reasons like electricity off, some wiring issue  or even hardware/software of computer could be hanged.

So saving frequently can save your work also it is best practice to save in different name so that older history is maintained.

New solution to these problems are using cloud based documents those auto save your work and also maintain history.

4 0
3 years ago
Read 2 more answers
If a tangible good or service performs the promised function dependably, we say that it has high:
kobusy [5.1K]
Hello there,
The answer to your question is reliability


Hope this helps :))

~Top
6 0
3 years ago
Being Human, Inc., recently issued new securities to finance a new TV show. The project cost $14.5 million, and the company paid
Furkat [3]

Answer: 1.54

Explanation:

Based on the information given in the question, the company’s target debt-equity ratio will be:

The total costs will be:

= $14.5 million + $775000

= $15.275 million

Since amount needed = amount raised × (1-fT)

Therefore, 15.275 × (1-f) = 14.5

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f = floatation costs = 5.074%

Therefore, 5.074% × (1 + D/E) = 7.5% + (D/E) × 3.5%

Solving for debt-equity ratio, the value will be = 1.54

8 0
2 years ago
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