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Helen [10]
3 years ago
5

Thompson Corporation gathered the following reconciling information in preparing its October bank reconciliation: Cash balance p

er bank, 10/31 $12,889 Note receivable collected by bank 4,765 Outstanding checks 10,446 Deposits in transit 4,214 Bank service charge 243 NSF check 1,187 Using the above information, determine the cash balance per books (before adjustments) for Thompson Corporation.
Business
1 answer:
den301095 [7]3 years ago
6 0

Answer:

The cash balance per book is $3322 (before adjustment)

Explanation:

Cash balance per bank = $12,889

Note receivable collected by bank = 4,765

Outstanding checks = 10,446 Deposits in transit = 4,214

Bank service charge = 243

NSF check = 1,187

To determine the cash balance per book:

Cash balance per bank - Note receivable collected by bank - Outstanding checks + Deposits in transit + Bank service charge + NSF check.

= $12,889 - 4,765 - 10,446 + 4,214 + 243 + 1,187

= $3322

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The following transactions relate to the City of Middleton, which has a fiscal year end of December 31. The city adopts budgets
scoundrel [369]

Answer:

See explaination

Explanation:

1.

--Capital projects fund journal

Dr. Cash $2,000,000

Cr. Other Financing Source—Proceeds of Bonds $2,000,000

--Governmental activities journal

Dr. Cash $2,000,000

Cr. Bonds Payable $2,000,000

2.

--Debt service fund journal

Dr. Estimated Other Financing Sources—Inter fund Transfers In $ 30,000

Cr. Appropriations $ 30,000

--General Fund journal

Dr. Budgetary Fund Balance $ 30,000

Cr. Estimated Other Financing Uses—Inter fund Transfers Out $ 30,000

3.

--Capital projects fund journal

Dr. Investments $1,000,000

Cr. Cash $1,000,000

--Governmental activities journal

Dr. Investments $1,000,000

Cr. Cash $1,000,000

4.

4.

--General Fund journal

Dr. Other Financing Uses—Inter fund Transfer out $ 30,000

Cr. Cash $ 30,000

--Debt service fund journal

a) Dr. Cash $ 30,000

Cr. Other Financing Sources—Inter fund Transfer In $ 30,000

b) Dr. Expenditures—Interest $ 30,000

Cr. Cash $ 30,000

--Governmental activities journal

Dr. Expenses—Interest on Long-term Debt $ 30,000

Cr. Cash $ 30,000

5.

--Capital projects fund

Dr. Interest Receivable $ 11,555

Cr. Revenues—(optional to put source, Interest) $ 11,555

--Governmental activities journal

a) Dr. Interest Receivable $ 11,555

Cr. General Revenues—Investment Earnings—(optional to indicate restriction, Restricted for Capital Projects) $ 11,555

b) Expenses—Interest on Long-term Debt $ 30,000

Interest Payable $ 30,000

Debt service fund

Note that there is no accrual of interest expenditure since the expenditure is not legally due until after the first of the year.

4 0
3 years ago
Your company has sales of $ 93,600 this year and cost of goods sold of $ 64,700. You forecast sales to increase to $ 117, 400 ne
Gre4nikov [31]

Answer:

COGS= $81,146.88

Explanation:

Giving the following information:

Your company has sales of $93,600 this year and the cost of goods sold of $64,700. You forecast sales to increase to $ 117, 400 next year.

First, we need to calculate the percentual participation of cost of goods sold:

%COGS= 64,700/93,600= 0.6912= 69.12%

<u>Now, using the same percentage, we calculate the cost of goods sold for the estimated new sales:</u>

COGS= 117,400*0.6912= $81,146.88

3 0
3 years ago
Suppose an apartment complex converts to a condominium, so that the former renters are now owners of their housing units. Suppos
Lorico [155]

Answer:

GDP is likely to remain same as a result of this conversion.

Explanation:

GDP is the total value of goods & services, produced by an economy, during a given year.

It can be calculated by 2 methods

  • By Expenditure method : GDP = Private Final Capital Expenditure + Govt. Final Consumption Expenditure + Gross Domestic Capital Formation + Net Exports
  • By Income method : NDP = Compensation of Employees + Operating Surplus (Rent + Profit + Income) + Mixed Income

Given case - Converting a rented apartment into a resident owned condominium , with value of housing services = rent formerly paid :

This brings no change in the GDP, as : The apartment 'rent' previously paid was included in 'operating surplus' of national income, by Income method. And, the equal condominium value is now included in investment addition i.e 'Gross domestic capital formation' , by Income method.

6 0
3 years ago
We discussed the invasions of the Roman world by various Germanic tribes in the fifth century and the Arab-Islamic conquests of
EleoNora [17]

Answer:

The invaders were able to govern the more advanced civilizations because they adopted most of the conquered civilizations' customs, rules of governance, and even languages and religion.

For example, in the case of the Germanic tribes that conquered the Western Roman Empire, the rulers adopted, one by one, the religion of the Roman Empire: Christianity, more specifically, the Roman Catholic variant.

They also began to use the language of the Empire: Latin, for ecclessiastical and political matters, and while political institutions did change a lot, some of the political institutions of the Empire did survive in the sucessor states that the Germanic rulers carved out of the Roman territory.

7 0
3 years ago
If a U.S.-based automobile parts supplier were to apply a global mind-set to its internal analysis, it would: a. review sales da
Stella [2.4K]

The correct option is, (d) study all of its internal resources with an understanding of which capabilities offer value to meet the needs of U.S., Japanese, European, and Korean automakers.

<h3>What will happen in theory if a company is able to align its strategy and structure?</h3>
  • A business is debating altering its organizational structure in order to capitalize on a consumer trend.
  • The business recognizes the potential revenue that could result from this new consumer behavior, which is very profitable.

<h3>Which of the following is an example of an intangible company resource?</h3>
  • Trademarks, goodwill, and patents are a few examples of intangible assets.

<h3>Why is IT important for a company to align its IT strategy to business strategy?</h3>
  • IT strategy and business goals should be coordinated to ensure that everyone is on the same page and working toward the same objectives.
  • This helps to guide and inform decision-making.
  • IT systems are more likely to be useful, well-used tools when they are chosen and implemented in accordance with an organization's strategic goal.

Learn more about internal analysis here:

brainly.com/question/6426686

#SPJ4

6 0
2 years ago
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