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Juliette [100K]
3 years ago
12

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

Business
1 answer:
nikklg [1K]3 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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Three challenges that bricks construction may encounter when trying to implement their corporate social investment plan in the l
goblinko [34]
There are many probable challenges the bricks construction may encounter if they implement their corporate social investment plan in a local community.

Some of these are:
- There might be not enough funds to implement the plan
- Employees may lack the skills in the certain project
- The challenge to sustain during the economic downturns
7 0
3 years ago
Which of the following would be included in the Lease Receivable account? I. Guaranteed residual value. II. Unguaranteed residua
mixas84 [53]

Answer:

Guaranteed residual value, Unguaranteed residual value and Rental payments.

Explanation:

I. Guaranteed residual value, II. Unguaranteed residual value, and IV. Rental payments will all be included in Lease Receivable account EXCEPT executory cost which is already included in the rental payment.

Executory cost refers to the cost of normal expenses associated with owning a leased asset, including insurance, maintenance, and taxes.

Executory costs are paid by the lessee and they are included as part of the rental payment or a pass through expense paid directly by the lessee.

3 0
3 years ago
Bronco, Inc., imposes a payback cutoff of three years for its international investment projects. Year Cash Flow (A) Cash Flow (B
maw [93]

Answer:

Project A:

Payback Period = Years before full recover + (Un-recovered cash inflow at start of the year/cash flow during the year)

= 2 Year + ($12,000 / $18,000)

= 2 Year + 0.67 years

= 2.67 Years

<u>Payback Period - PROJECT A = 2.67 Years</u>

Project B:

Payback Period = Years before full recover + (Un-recovered cash inflow at start of the year/cash flow during the year)

= 3 Year + ($17,000 / $224,000)

= 3 Year + 0.08 years

= 3.08 Years

<u>Payback Period - PROJECT B = 3.08 Years</u>

3 0
3 years ago
When a producer offers a prospective insured a portable dishwasher as a bonus for purchasing a policy, he/she could be guilty of
Alik [6]

Answer:

The correct answer to the following answer will be Rebating.

Explanation:

Rebating: It is a manner to get potential insurance customers to purchase the insurance product by returning their money to the broker or agent. The insurance company can even offer premium or even donation discounts. Insurance regulators do not find this to be a good exercise since unfair competition can grow and insurance insolvency can occur.

Therefore, Rebating is the correct answer.

8 0
3 years ago
If the complement of a probability p'(x) = 0.25, what is the probability
professor190 [17]

The answer is 0.75.

When taking the compliment, remember it is always of the form :

<u>1 - p'(x) or 1 - p(x)</u>

Hence,

  • 1 - 0.25
  • 0.75
3 0
1 year ago
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