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melamori03 [73]
3 years ago
15

Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of b

usiness on August 31, its Cash account shows a debit balance of $13,162. Franklin's August bank statement shows $14,237 on deposit in the bank. Determine the adjusted cash balance using the following information:
Business
1 answer:
OlgaM077 [116]3 years ago
8 0

Answer:

$14,837

Explanation:

Calculation for what The adjusted cash balance should be

Bank balance$14,237

Add Deposit in transit$4,500

Less Outstanding checks ($3,900)

Adjusted bank balance$14,837

($14,237+$4,500-$3,900)

Book balance$13,162

Less Bank service fees ($50)

Add Note collected $1,725

Adjusted book balance$14,837

($13,162-$50+$1,725)

Therefore The adjusted cash balance should be:

$14,837

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Answer:

Pure or perfect competition is a theoretical market structure in which the following criteria are met: All firms sell an identical product (the product is a "commodity" or "homogeneous"). All firms are price takers (they cannot influence the market price of their product). Market share has no influence on prices.

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2 years ago
The Buck Store is considering a project that will require additional inventory of $216,000 and will increase accounts payable by
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Answer:

$607,250 outflow

Explanation:

Net Working Capital is the amount of money needed to maintain operations on a day to day basis.

Net Working Capital = Current Assets - Current Liabilities

where,

<u>Current Assets are calculated as :</u>

Inventory                                                        $216,000

Accounts Receivable ($525,000 x 1.09)   $575,250

Total                                                                $788,250

and

Current Liabilities = $181,000

therefore,

Net Working Capital = $788,250 - $181,000 = $607,250

Conclusion

The project's initial cash flow for net working capital is $607,250 outflow.

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2 years ago
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What are THREE purposes of monetary policy? A to eliminate competition B. to promote price stability c. to eliminate unemploymen
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Explanation:

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