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3 years ago

Bank Reconciliation and Entries

Business

1 answer:

Blizzard [7]3 years ago

7 0

Answer:

1. Collegiate Sports Co.

Bank Reconciliation

November 30, 20Y9

Cash balance according to bank statement $112,675

Adjustments:

Deposit of November 30, not recorded by bank $12,200

Bank error in charging check as ($4,500)

$7,250 instead of $2,750

Outstanding checks ($41,840)

Total adjustments ($34,140)

Adjusted balance $78,535

Cash balance according to company's records $66,935

($81,145+$293,150-$307,360)

Adjustments:

Proceeds of note collec. Date ted by bank, $7,385

including $385 interest

Error in recording check as $7,600 instead of $760 $6,840

Check returned because of insufficient funds ($2,500)

Bank service charges ($125)

Total adjustments $11,600

Adjusted balance $78,535

2. Date Account Titles Debit Credit

Nov 30 Cash $14,225

Notes receivables $7,000

Interest revenue $385

Account payable $6,840

Nov 30 Account Receivable $2,500

Miscellaneous expenses $125

Cash $2,625

3. The cash to be reported is $78,535.

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Gray Manufacturing is expected to pay a dividend of $1.25 per share at the end of the year (D1 = $1.25). The stock sells for $27

natali 33 [55]

Answer:

5.95%.

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3 years ago

Stone sour co. has an roa of 9 percent and a payout ratio of 18 percent. what is its internal growth rate?

DaniilM [7]

The internal growth rate is 7.97% Approximately

The internal growth rate is computed as shown below:

= ROA x ( 1 - payout ratio ) / [ 1 - ( ROA x payout ratio) ]

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An internal growth rate (IGR) is the best degree of growth potential for a commercial enterprise with out acquiring outdoor financing. A firm's most inner increase rate is the extent of business operations that may maintain to fund and grow the corporation with out issuing new equity or debt.

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Learn more about internal growth rate here: brainly.com/question/25849702

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1 year ago

Which term works best as a title for the list?

Marysya12 [62]

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3 years ago

An appliance manufacturer gives a warranty, and 95 percent of its appliances do not require repair before the warranty expires.

pentagon [3]

Answer:

An appliance manufacturer gives a warranty, and 95 percent of its appliances do not require repair before the warranty expires. An organization buys 10 of these appliances. The interval that contains 95.44 percent of all the appliances that will not require repair is (8.12, 10.88)

Explanation:

Here we can calculate the confidence interval for a proportion of 0.95 and a sample size of 10. Note that the critical value for 95.44% confidence is 1.9991.

Between 81.22% and 108.78% of 10 units is 8.12 and 10.88 units. Therefore the confidence interval is:(8.12, 10.88).

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4 years ago