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Naddika [18.5K]
3 years ago
8

To arrive at an accurate balance on a bank reconciliation statement, a credit memorandum from the bank for the collection of a n

ote and interest should be
Business
1 answer:
Nutka1998 [239]3 years ago
6 0

Answer:

Must be added to the book balance.

Explanation:

The correct treatment would be to add this value to book balance because the bank has increased our bank balance by the note and interest amount. This must be accounted for as increase in the book balance because we have borrowed money and also that yearly interest income was also added to our bank checking account.

Hence it must be added to cash book balance in order to reconcile with the bank balance.

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 Under Eagle Co.'s job order costing system, manufacturing overhead is applied to Work-in-Process using a predetermined annual
Elina [12.6K]

Answer:

Cost of jobs completed in February=

Direct materials issued to production+

Direct labor costs+

Manufacturing overhead applied

=(96000+113000+119000)

=$328000(B).

5 0
3 years ago
Many older companies have changed from a defined-benefit plan to a(n) ________, which is a retirement plan where workers are cre
avanturin [10]

Cash balance plan is a retirement plan where workers are credited with a part of their pay annually and a predetermined rate of interest.

<h3><u>What is a Cash balance Plan?</u></h3>

A defined-benefit pension plan with a lifetime annuity option is referred to as a "cash balance pension plan."

<h3><u>What are some features of Cash balance plans?</u></h3>
  • Based on defined-benefit needs, the financing caps, funding requirements, and investment risk are established.
  • Like a defined-contribution plan, this type of plan is managed on an individual account basis.
  • The advantage of these programs is that age-based contribution caps are available.
  • Pretax contributions enable those 60 and older to save significantly more money each year than younger people.

You can learn more about defined pension plans work using the following link:

brainly.com/question/15241364

#SPJ4

6 0
1 year ago
Elly owns a small coffee shop. She has only one employee. One weekend, she decided to take a break from work. She is wondering w
yanalaym [24]

Answer: (B) Backward induction

Explanation:

 The backward induction is basically used for making the decisions and it is the process of solving the various types of problems by determining the action properly.

In any type of situation, the backward induction basically used the optimal strategy type for making some effective result of the given situation.

According to the given scenario, Elly should use the backward induction process for making the decisions more effectively regarding her shop.

Therefore, Option (B) is correct.

4 0
3 years ago
Ecker Company reports $1,925,000 of net income for 2017 and declares $269,500 of cash dividends on its preferred stock for 2017.
Basile [38]

Answer:

(A) $1,655,500

(B) $5.52 per share

Explanation:

Ecker company announced a net income of $1,925,000

They also declare a cash dividend of $269,500

The company has 300,000 weighted average shares of common stock

(A) The amount of net income available to common stockhloders for 2017 can be calculated as follows

Net income available to common stockhloders= Net income- Preferred Cash dividend

= $1,925,000-$269,500

= $1,655,500

(B) The common basic EPS for 2017 can be calculated as follows

Common basic EPS= Net income available to stockholders/weighted average outstanding shares

= $1,655,500/300,000

= $5.52 per share

7 0
3 years ago
A woman worked for 30 years before retiring. At the end of the first year of employment she deposited 5000 into an account for h
Mrrafil [7]

Answer:

$797,837

Explanation:

the first withdrawal is $50,000

the second is $51,500

and so on...

the formula that used to solve the interest rate earned by the annuity is:

$50,000 x {[(1 + i)³⁰ - (1 + 3%)³⁰] / [(1 + i)³⁰ x (i - 3%)]} x (1 + i) = $5,000 x {[(1 + i)³⁰ - (1 + 3%)³⁰] / (i - 3%)}

we start to simplify the equation by cancelling  {[(1 + i)³⁰ - (1 + 3%)³⁰] / (i - 3%)}

[$50,000 x (1 + i)] / (1 + i)³⁰ = $5,000

now we cancel $5,000 on each side:

[10 x (1 + i)] / (1 + i)³⁰ = 1

now lets take away (1 + i):

10 / (1 + i)²⁹ = 1

things get a little bit more simple now:

10 = (1 + i)²⁹

²⁹√10 = ²⁹√(1 + i)²⁹

1.082636734 = 1 + i

i = 1.082636734 - 1 = 0.082636734 = 8.2636734%

now we replace i in any equation:

= $50,000 x {[(1 + 0.082636734)³⁰ - 1.03³⁰] / [(1 + 0.082636734)³⁰ x (0.082636734 - 0.03)]} x (1 + 0.082636734)

= $50,000 x  {[10.82636738 - 2.427262471] / [10.82636738 x 0.052636734]} x (1 + 0.082636734)

= $50,000 x  {8.399104909 / 0.56986462} x (1.082636734)

= $50,000 x 14.73877236 x 1.082636734

= $797,837

8 0
3 years ago
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