Answer:
The adjusted cash balance per bank at July 31 is <u>$8,720</u>
Explanation:
Adjusted cash balance is the cash balance calculated after required adjustments in the balance as per bank or balance as per record of the entity having that bank account.
Accroding to the bank reconciliation statement
- The outstanding checks are deducted from the cash balance as per bank because these are the check issued but not be presented in the bank until the end of a period.
- On the other hand, the deposit in transit is the cash that is to be received but this balance is in the clearing process of the check.
- Bank Service charges is already adjusted in the balance as per bank.
Adjusted Balance can be calculated as follow
Cash balance as per Bank ______________ $8,085
Less: Outstanding Checks ______________ $755
Add: Deposit in transit _________________ <u>$1,390</u>
Adjusted Cash balance ________________ <u>$8,720</u>
Answer: A. The return on plan assets is higher than expected
Explanation:
Pension gains related to plan assets is said to occur when the return on plan assets is higher than expected. In a situation whereby an individual or a firm expect a certain return on an asset and when the asset's return was eventually more than the expected return on it, this means that there is a pension gains related to plan assets.
Answer:
job T687 total cost 2,151 dollars
Explanation:
425,600 / 30,400 = 14 fixed overhead rate
14 fixed + 5 variable = 19
Job T687
<u>applied overhead:</u>
ovehread 20 machine hours x 19 = 381
now we add the three cost components for the total cost:
direct materials 590
direct Labor 1,180
overhead <u> 381 </u>
total 2,151
Answer:
e). all of the above
<u>Multiple-choices</u>
a). working capital
b). current ratio
c). quick ratio
e). all of the above
Explanation:
Working Capital is the difference between the total current asset and current liabilities. I.e., working capital = total current assents - total current liabilities. It is calculated to assess a company's ability to pay its current liabilities.
The Current Ratio is calculated using the formula below.
current ratio= total current assets / total current liabilities. It measures the company's ability to meet its current liabilities with its current assets.
Acid-test Ratio (Quick Ratio) evaluates a company's ability to meet its current liabilities using cash or cash equivalents only. It measures the ability to repay current debts without having to sell inventory.
Quick ratio or acid test is calculated as follows= (cash + short-term investments + receivables) / total current assets
Answer:
Credit was invented by Mr A Smith (of bank note fame) to allow parents to top-up teenagers phones. This was viewed as particularly important since without it they would be unable to cheat on their homework.
Explanation:
Do I really need to explain such an egregious answer