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Ierofanga [76]
3 years ago
6

Assume the Continental National Bank's balance statement is as shown in the accompanying table. Assuming a legal reserve ratio o

f 20 percent, how much in excess reserves would this bank have after a check for $10,000 was drawn and cleared against it
Business
1 answer:
Lerok [7]3 years ago
4 0

Answer:$6,000

Explanation:

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The bank charged another company's check against our account. This would be included on the bank reconciliation as a(n)?
xxTIMURxx [149]

When bank charged another company's check against our account this would be included on the bank reconciliation as a addition to the balance per books.

A bank reconciliation statement summarizes banking and business activities and reconciles a company's bank accounts and its financial records. A bank reconciliation statement confirms that the payment has been processed and the cash collection has been credited to your bank account.

Withdraw an outstanding check. This will give you a reconciled bank balance. Then, use the cash balance at the end of the business to add up the interest earned and any outstanding bills. Deduct all bank charges, penalties and NSF checks.

Procedures for verifying the accuracy of both company bank statements and cash accounts. - Must be completed at the end of each month. A common cause of differences between the bank's ending balance and the cash book's ending balance.

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5 0
1 year ago
_____________ measures how changes in price affect the quantity of product demanded.
Margaret [11]

Price elasticity of demand measures how changes in price affect the quantity of product demanded. A good or service's price elasticity of demand is calculated by dividing percentage change in the amount sought by percentage change in the price.

The ratio of the percentage change in quantity supplied to the percentage change in price is  price elasticity of supply. A good or service's price elasticity of demand is calculated by dividing percentage change in  amount sought by the percentage change in price.

The ratio of percentage change in quantity supplied to percentage change in price is  price elasticity of supply.

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5 0
2 years ago
Maizie files a suit against NuProducts, Inc. NuProducts responds that even if Maizie's statement of the facts is true, according
ycow [4]

Answer: 3. a motion to dismiss.

Explanation:

When a party believes that a case has no legal basis, in other words the party does not believe that what they did warrants a court case, they would file a motion to dismiss so as not to waste resources fighting something they see as frivolous.

In this case, NuProducts is essentially filing a motion to dismiss when they say that they did nothing wrong according to the law. They would prefer if the courts simply dismissed the case so that they would not incur costs to fight the case.

4 0
3 years ago
Production estimates for August for Jay Company are as follows:
dimaraw [331]

Answer:

c.$1,080,000 for A; $648,000 for B

Explanation:

For computing the total direct material purchase first we have to find out the production units which are shown below:

As we know that

Production units = Ending inventory units + sales units - beginning inventory units

= 9,000 units + 75,000 units - 12,000 units

= 72,000 units

Now the total direct material purchase for Material A and Material B is

For Material A

= 72,000 units × 3 lbs × $5 per lb

= $1,080,000

For Material B

= 72,000 units × 0.5 lbs × $18 per lb

= $648,000

Therefore, the third option is correct

4 0
3 years ago
Roderick is in 11th grade and wants to attend college to become a marine biologist. He knows he will need funds. What should he
Alecsey [184]

Answer – B (He could fill out a FAFSA form to determine what financial aid he would qualify for)

 

<span>The Free Application for Federal Student Aid (FAFSA) form can be filled out annually by both current and soon-to-be college students in the United States to determine whether they are qualified for student financial aid.</span>

6 0
3 years ago
Read 2 more answers
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