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vivado [14]
2 years ago
9

Graham, Inc.'s April bank statement shows an April 30 balance of $5,120. Prior to reconciliation, its books show a cash balance

of $5,510. ThIs information pertains to Graham, Inc.: Deposits in transit $800; Checks outstanding $465; Bank service charge $10; Error in Graham's records understating cash disbursement $180; Check of another company charged erroneously against Graham's bank account $115; Bank statement shows bank collected a note receivable and interest income for Graham $250. The reconciled cash balance at April 30 on the bank reconciliation should be:
Business
1 answer:
Mars2501 [29]2 years ago
4 0

Answer:

$5,570

Explanation:

The purpose of a bank reconciliation statement is to reconcile the difference between Cash Book balance and Bank Statement balance. Also it is used to check accuracy of Cash Book and the accuracy of Bank Statement.

Graham, Inc.'s April bank reconciliation statement is prepared as :

Graham, Inc.

Bank reconciliation statement as at April 30

Balance as per Bank Statement                 $5,120

Add outstanding lodgments                         $800

Add back error at the bank                            $115

Less unpresented checks                           ($465)

Balance as per Cash Book                        $5,570

therefore,

The reconciled cash balance at April 30 on the bank reconciliation should be $5,570.

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Ne4ueva [31]

Answer:

$60,030.54

Explanation:

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The nations of western europe, israel, japan, and australia fall into which category of countries
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Hot countries so they will be warm
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Peyton earns $1,700 every other week, but only brings home $1,100 due to deductions, what is Peyton’s gross pay?
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Clara and Sandra collaborate to open a cafe. They come to an arrangement wherein Sandra manages the cafe from Monday to Wednesda
Shalnov [3]

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general partnership

Explanation:

General partnership -

It refers to the management of a particular business , by two or more partners in a predefined manner , where the profit is shares equally amongst the partners , is referred to as general partnership .

The decision about the business is taken along with all the partners ,like the financial decisions.

Any loss or profit is shares equally amongst all .

Hence , from the given scenario of the question ,

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3 0
3 years ago
David is buying a new car for $21,349.00. He plans to make a down payment of $3,000.00. If he's to
marshall27 [118]

Answer: (D) 5.90%

Explanation: David is going to buy a new car at $21,349.

The down payment is $3,000.

Loan amount (Present value) = $21,349 - $3,000

Loan amount (Present Value) = $18,349

Installment amount (pmt) = $352

As the payment is made monthly (12 months in a year),

Number of payments = 5 * 12

Number of payments = 60

Using the rate option in excel,

=rate(nper,pmt,-pv,fv,type)

Insert the variables into the option, we get

=rate(60,352,-18349)

By inserting the above formula in excel we get,

Rate = 0.47%

Rate of 0.47% is monthly, to get APR

APR = (1+monthly rate)^12 - 1

APR = (1+0.0047)^12 - 1

APR = (1.0047)^12 -1

APR = 1.0586 - 1

APR = 0.0586

APR = 5.86% or 5.90%

Therefore the correct option is 5.90%.



8 0
2 years ago
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