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vampirchik [111]
3 years ago
10

The FDIC in the United States insures some financial accounts up to what amount?

Business
1 answer:
AnnZ [28]3 years ago
7 0

Answer:C

Explanation:

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The cash account for Stone Systems at July 31, 20Y5, indicated a balance of $17,750. The bank statement indicated a balance of $
omeli [17]

Answer:

The bank reconciliation statement is as shown below:

                                                Amount in $

Balance per bank statement     33,650.00  

Deposit in transit                               9,150.00  

Outstanding check                    (17,865.00)

Bank charges                                   80.00  

Note collected                             (6,095.00)

Returned check                                (540.00)

Check drawn                             <u>   (630.00) </u>

Book balance                             <u> 17,750.00</u><u> </u>

Explanation:

Deposit in transit has been recorded in the books, thus the addition to the bank balance. Bank charges have been deducted from the bank balance but not in the cash book hence it is added back. Note collected is yet to be recognized in the books hence the deduction from the bank balance.

Amount recorded from the check returned is more than the actual by $540 hence the deduction. The check drawn has been over charged by the bank to the tune of $630 hence the deduction.

5 0
3 years ago
Knowledge Check 02 On February 28, the Jewelry store remits $975 of sales tax collected from its customers to the government. Pr
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Answer:

Please refer to the below

Explanation:

Journal entry as seen below

Feb 28 Sales tax payable Dr $975

Cash Cr $975

Since Jewelry store collected the sales tax from its customers, sales tax account will be debited because it reduces the balance in the account while cash account will be credited because the balance therein increases due to the sales tax collected.

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3 years ago
When Nancy's aunt left for her annual Christmas vacation, she left Nancy in charge of her coffee shop. During this time, there w
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Answer:

inherent agency power

Explanation:

pls mark brainliest

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4 years ago
Central City was awarded two state grants during its fiscal year ending September 30, 2020: a $2 million block grant that can be
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Answer:

$1 million

Explanation:

The computation of the grant revenue recognized in the fund financial statement is presented below;

Given that

The $2 million could be used for covering up the operating expense and $1 million could be used for purchasing an equipment

So as per the given situation, the $1 million should be recognized

Therefore the same should be considered

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3 years ago
What are some ways Panera bread earns the trust of its public?
ohaa [14]
Having a welcoming environment, public health license and having a staff that follows the rules.
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