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Ratling [72]
3 years ago
10

Waterway Company’s checkbook balance on December 31, 2020, was $84800. In addition, Sheridan held the following items in its saf

e on December 31.(1) A check for $1750 from Pharoah Company received December 30, 2020, which was not included in the checkbook balance. (2) An NSF check from Pearl Industries in the amount of $3730 that had been deposited at the bank, but was returned for lack of sufficient funds on December 29. The check was to be redeposited on January 3, 2021. The original deposit has been included in the December 31 checkbook balance. (3) Coin and currency on hand amounted to $5680. Required:The proper amount to be reported on Waterway's balance sheet for cash at December 31, 2020, is $______.
Business
1 answer:
Gemiola [76]3 years ago
4 0

Answer:

$88,500

Explanation:

The computation of the amount of cash reported in the balance sheet is shown below:

= Check book balance + check not included - NSF check + coin & currency on hand

= $84,800 + $1,750 - $3,730 + $5,680

= $88,500

We simply applied the above formula so that the correct amount of cash could arrive that is to be reported in the balance sheet

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Answer:

c. It should process further because the reduction in the cost of the trees is irrelevant.

Explanation:

For the purpose of this Decision,

Benefit of processing further = Sales Value after processing – Sale Value before processing – Further Processing costs

Cost of acquiring trees is a sunk cost already incurred and hence is not relevant

Hence, benefit of processing = (0.80-0.20)*350 – 50

= $160

Hence, the answer is

c. It should process further because the reduction in the cost of the trees is irrelevant.

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Realized income is also known as
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3 years ago
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From 1948 to 2003 the United States experienced an average real GDP growth rate of 3.5 percent and Guatemala had an average real
Luda [366]

Answer:

No, we can’t say

Explanation:

In this question, we are asked to decide if we can say that Guatemala’s standard of living grew more than that of the US’ standard of living between the years 1993 and 2003 given the pointers in the question.

We cannot say that this is correct because of the following reasons;

As observed from the question, the US growth rate was calculated between the years 1948-2003, which is indicative of a 55 year span. Now, comparing this with that of Guatemala, we can see that the span here is just 10 years I.e from 1993 to 2003.

Also, we were not provided with the population growth rate in both countries and this makes it difficult to judge which of the two countries have a better growth in terms of standard of living

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You are currently earning 12% (APR) compounded semiannually. Your investment company is switching all accounts to daily compound
Sav [38]

Answer:

The rate that will give the same effective annual rate of return is 0.033%.

Explanation:

a) Data and Calculations:

APR = 12%

Semi-annual compound rate = 6% (12/2)

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Effective daily rate of return = 12%/360 = 0.033%

b) The conversion of semi-annual compounding to daily compounding results in reduced rate of return.  In this case, we assume that there are 360 days in a year.  Since the APR = 12%, it means that the daily rate of return will be 12%/360, which is 0.033%.

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3 years ago
What is the Securities and Exchange Commission (SEC)?
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A federal agency that regulates the stock market
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