When will the Social Security fund dry up at its current level? When will the Social Security fund dry up at its current level?

At July 31, Oriole Company has this bank information: cash balance per bank $8,085, outstanding checks $755, deposits in transit

lions [1.4K]

Answer:

The adjusted cash balance per bank at July 31 is $8,720

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 _________________ $1,390

Adjusted Cash balance ________________ $8,720

8 0

3 years ago

Aqua Ltd issues a prospectus inviting the public to subscribe for 30 million ordinary shares of $2.00 each. The terms of the iss

Ronch [10]

Answer and Explanation:

The journal entries are shown below:

1. Bank Dr $36,000,000 (36 million × $1)

To Share application $36,000,000

(Being the application received)

2. Share application $36,000,000

To Share capital $30,000,000

To bank $6,000,000

(Being the allotment is recorded)

3. Share allotment $30,000,000

To SHare capital $30,000,000

4. Bank Dr $25,000,000

To Share allotment $25,000,000

(being allotment is recorded)

5. Share capital $10,000,000

To SHare forfeited $5,000,000

To Share allotment $5,000,000

(Being share forfetied is recorded)

6. Bank Dr $9,500,000

Share forfeited Dr $500,000

To Share capital $10,000,000

(Being share forfeited is recorded)

7. Share forfeited Dr $4,500,000

To Bank $4,500,000

(Beng share forfeited is recorded)

4 0

3 years ago

A dividend is _____.

Paladinen [302]

Answer:

d. money a company shares with the stockholders

Explanation:

A dividend is money a company shares with the stockholders.

hope it helps:)

mark brainliest!

7 0

3 years ago

Read 2 more answers

How does a parent perform the functions of organizing in management?

Nady [450]

Answer:

I'll assume that the term "parent" here means parent in the conventional term as in father, mother, and children.

With this in mind, parents have the responsibility of organising the family which include their children and the affairs of the house.

Therefore, a parent performs the functions of organizing in management by:

1. Guiding their wards in management principles

2. Educating them in what they should and shouldn't do.

3 0

3 years ago

When buyers refuse to pay a product’s stated price or when improvements in other items or fashion changes reduce the appeal of t

hoa [83]

Reduction in the price. If they do not reduce the price, then people will not buy the product, and they will be left with too many of the same products.

4 0

3 years ago