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madreJ [45]
3 years ago
6

An accounting clerk for Chesner Co. prepared the following bank reconciliation:

Business
1 answer:
cricket20 [7]3 years ago
5 0

Answer:

A. Adjusted balance $17,760

Adjusted balance $17,760

B. $17,760

Explanation:

A. Preparation of a new bank reconciliation for Chesner Co.

Cash balance according to bank statement l

$14,220

Add Deposit in transit on August 31 $6,690

Deduct Outstanding checks $3,150

Adjusted balance $17,760

Cash balance according to company's records $6,570

Add Error by Chesner Co. in recording Check No. 1056 as $820 instead of $280 540

Add Note for $10,300 collected by bank, including interest 10,710

Less Bank service charges 60

Adjusted balance $17,760

B. Based on the above bank reconciliation If a balance sheet were prepared for Chesner Co. on July 31, 2016 the amount that should be reported for cash is $17,760

From the data prepared by the accounting clerk,

b. If a balance sheet were prepared for Chesner Co. on July 31, 2016, what amount should be reported for cash?

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Morrow City Inc. manufactures small flash drives and is considering raising the price by 75 cents a unit for the coming year. Wi
JulsSmile [24]

Answer:

Operating profit is projected to be $35,100

Explanation:

                 Morrow City International

Analysis of the Current and Projected demand to determine the Operating Profit

Particulars         Current       Projected     Changes in

                           Demand      Demand       Demand        

Selling price          $8.50           $9.25            0.75

Less: Cost Price    $5.80           $5.80            0

Contribution           $2.7             $3.45            0.75

Margin

Unit Sold                <u>79,000        72,000        -7000</u>

Total                       $213,300     $248,400   $35,100

Contribution

Note: Total contribution = Unit sold * Contribution margin

3 0
3 years ago
Assume that we use a perpetual inventory system and that five identical units are purchased at the following dates and costs: Ap
quester [9]

Answer:

Cost of goods sold on April 25 is $13.80 and the inventory balance is $55.20

Explanation:

Data given:total unit

Cost of purchase with  data;

Date                  Amount

April 5                 $10

April 10                $12

April 15                $14

April 20                 $16

April 22                 $17

Total cost             69    

Average cost = total cost /total quantity

                       = 69/5

                       =13.8

The cost of the ending inventory is given on the balance sheet below

Date      Purchases              Cost of            Inventory Bal.   Avg Cost

                                            goods sold

April 5   $10* 1 unit= $10                -                        $10               10/1 = $10

April  10  $12* 1 unit=$12               -               10+ 12 = 22            22/2 = 11

April  15   $14* 1 unit=$14                  -           22+14 =36              36/3 = 12

April 20   $16* 1 unit= $16                  -          36 +16 =52            52/4 = 13

April 22    $17* 1 unit = $17                 -          52+17 =69            69/5 = 13.8

April 25             -           1 unit*13.8 = 13.80      69 - 13.8 = 55.20

5 0
3 years ago
Don Howard is a trader who likes to make money based on changes in the foreigncurrency exchange market. Currently the spot rate
IrinaVladis [17]

Answer:

Don profit in the forward market can be USD 48,152.37

Explanation:

Spot rate currently is at 24.0239 MXN/USD

Sell USD forward at 26.5693 MXN/USD

Profit on settlement after 3 months = (Selling price - buying price)*Number of units

Profit on settlement after 3 months = (26.5693 - 25.3487)*1,000,000

Profit on settlement after 3 months = MXN 1,220,600

The exchange rate is expected to move to 25.3487 by Clint

Hence, 1,220,600/25.3487 = USD 48,152.37

Don profit in the forward market can be USD 48,152.37 if hewants to trade USD 1,000,000

3 0
3 years ago
If more workers are added to a company, the hope is that production and profit will ________________.
pishuonlain [190]

Answer: increase

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3 years ago
quizlet What has become increasingly important to consumers' decisions to purchase items ranging from household goods to media p
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Online reviews has become increasingly important to consumers' decisions to purchase items ranging from household goods to media products

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Online Reviews are comments made by online visitors or customers about a product or service. These reviews, often referred to as 'social proof tools', are essentially pieces of User Generated Content (UGC) that are intended to help businesses build up an online presence as well as trust among their visitors

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For nearly 9 in 10 consumers, an online review is as important as a personal recommendation. Customers are likely to spend 31% more on a business with “excellent” reviews. 86% of people will hesitate to purchase from a business that has negative online reviews.

Why are online reviews important for businesses?

Online reviews have increasingly become the front to your digital reputation. Reviews help you get noticed, lead to more sales, improve search engine rankings, inform your business, and convince customers to pick up the phone and call you.

Why good reviews are important?

Very good (or bad) reviews have a way of quickly spreading. Encouraging consumers to review your company is an easy way to expand your brand's reach. When people have good things to say, they are also more likely to share their reviews on more sites, including external websites like Yelp, Four Square, and TripAdvisor.

Learn more about online business review  :

brainly.com/question/24115645

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3 0
2 years ago
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