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2 years ago

Flounder Corporation is preparing a bank reconciliation and has identified the following potential reconciling items.

Business

1 answer:

nikklg [1K]2 years ago

5 0

Answer:

Explanation:

The journal entries are shown below:

a. No entry passed

b. Office expense A/c Dr $38

To Cash $38

(Being bank service charges paid)

c. Cash A/c Dr $32

To Interest revenue $32

(Being interest received)

d. No entry passed

e. Accounts receivable A/c Dr $570

To Cash A/c $570

(Being check returned)

The deposit in transit and outstanding checks should not be recorded. So, no entry is passed.

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You want to invest some money today to ensure you have exactly $50 thousand in 6 years to use as the down payment on a house. Yo

Naddik [55]

Answer:

True

Explanation:

STRIPS are zero coupon bonds, and the advantage of them is that they allow an investor to know exactly how much money they will receive at a future date.

The investor purchases the STRIPS at a discount value, which we are not told here. E.g. assuming that the discount rate is 5% (similar to (4), the price of the STRIPS = $50,000 / (1 + 5%)⁶ = $37,311.

5 0

3 years ago

Three months ago, Central Supply stock was selling for $51.40 a share. At that time, you purchased five put options on the stock

oee [108]

Answer:

$4,350

Explanation:

Calculation to determine your net profit or loss on this investment

Net profit = (-$0.60 - $42.70 + $52) × 100 × 5

Net profit= $4,350

Therefore your net profit or loss on this investment is $4,350

7 0

2 years ago

DoorWay Computers, Inc., the trademark owner of "DoorWay," sought a court injunction to prevent Handyman Hardware, Inc. from usi

amid [387]

Answer:

False

Explanation:

Because the injunction is the legal remedy that the special court's judge orders not the jury. The order enforce a party to do what must be done or refrains it from doing specific acts that harms the other party. So saying that Doorway sought the court injunction in which the jury decides the right course of action is incorrect because injunction is the warning of judge not of jury.

3 0

3 years ago

Vacation Destinations offers its employees the option of contributing up to 7% of their salaries to a voluntary retirement plan,

aliina [53]

Answer:

Follows are the solution to the given points:

Explanation:

For question 1:

Exp on the Debit Salary = $ 1,500,000

Credit payable Income tax = $375,000

Credit accounts payable (pension plan)= $63,000

Credit payable tax on FICA= $114,750

Credit payable salary (Balance) $947,250

For question 2:

Exp = $100,500 for Debit Wages

Cr.= $31,500 (Surgical Insurance) Payable accounts

Cr. = $6,000 in insurance accounts payable

Cr. = $63,000 Payable Accounts (Pension plan)

For question 3:

EXP= $207,750 for Debit Payroll Tax

Cr. = $114,750 for FICA payable tax

Cr. =$93000 for Federal and State (Unemployment tax)

$FICA TAX = \$1500,000 \times \frac{(6.2+1.45)}{100} = \$ 114,750\\$

Tax on state or federal unemployment $=\$ 1500,000 \times 6.2 \% = \$ 93,000\\$

5 0

3 years ago

______________________ argues that the productivity of workers will increase if they are paid more, and so employers will often

kifflom [539]

Answer: Efficiency wage theory

Explanation:

The efficiency wage theory is refers to the labor economics that argues about the wages fir the labor or workers in the market.

The main aim of the efficient wage theory is that it helps in increase the efficiency and the labor productivity by reducing the cost of the turnover in industries.

This theory is mainly developed by the Alfred Marshall as they denote the wages per unit labor efficiency. Therefore, the efficiency wage theory is the correct answer.

7 0

3 years ago