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2 years ago

You have $135,000 on deposit with no outstanding checks or uncleared deposits. One day you write a check for $49,000.

Business

1 answer:

cricket20 [7]2 years ago

6 0

Answer:

a. Does this create a disbursement float or a collection float?

A disbursement float occurs when you write a check and hand it out, but the person that receives the check hasn't cashed it yet. You do not owe the money anymore, but it still appears on your bank account.

b. What is your available balance?

your bank account balance = $135,000

c. What is your book balance?

book balance = $135,000 - $49,000 = $86,000

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3 years ago

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Answer:

65000 units

Explanation:

Given:

Expected sales of product W in April = 60000 units

Expected sales of product W in May = 75000 units

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3 years ago

After all revenue and expense accounts have been closed at the end of the fiscal year, Income Summary has a debit of $2,450,000

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Answer:

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--to close income sumary against RE--

Explanation:

To complete the closing entries we should determinate the balance of the Income Summary account and then, transfer into Retained Earnings.

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3 years ago

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<h3 /><h3>Opening accounts:</h3>

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