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Nutka1998 [239]
2 years ago
9

Multiple Choice Question 146 Marigold Corp. assembled the following information in completing its March bank reconciliation: Bal

ance per bank $14900 Outstanding checks $3025 Deposits in transit $4900 NSF check $310 Bank service charge $100 Cash balance per books $17160 As a result of this reconciliation, Marigold will increase its cash account by $210. reduce its cash account by $1875. reduce its cash account by $410. reduce its cash account by $100.
Business
1 answer:
pishuonlain [190]2 years ago
7 0

Answer:

reduce its cash account by $1875.

reduce its cash account by $410.

Explanation:

As for the information provided,

When we tally the cash balance with that of bank balance,

Outstanding checks which were already deducted in cash book will be added as yet outstanding and payment not made.

= + 3,025

Deposits in transit were already added in cash book, although yet not added to bank balance, thus deducted

= - 4,900

= +3,025 - 4,900 = - $1875

This means cash will be reduced by $1,875

Further NSF check is already added in cash but not yet added in bank = - $310

Further bank has deducted charges but in cash book not recorded thus it will be deducted now = - $100

= -$310 - $100 = - $410

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Answer: Operating cycle = 84.70 days

Cash cycle = 41 days

Explanation:

Beginning inventory = $11,100

Ending Inventory = $12,100

Average inventory = ($11100 + $12100)/2 = 11600

Average Accounts receivable = (6,100 + 6,400)/2 = 6250

Average Accounts payable = (8,300 + 8,700)/2 = 8500

Day sales in inventory = Average inventory × 365 / Cost of goods sold

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Average collection period = Average receivable × 365 / Credit sales

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Therefore, operating cycle will be:

= Day sales in inventory + Average collection period

= 59.63 days + 25.07 days

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What is true about contemporary Indian Economy
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Answer:

There is a great scope for its growth in the future.

Hope this helps.

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Credit risk measures using the structural model: assume a company has the following characteristics.
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Answer:

a ) Probability of default of debt over the time to maturity is 12.92%

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