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Harrizon [31]
2 years ago
5

The accountant for Lola Corp. was preparing a bank reconciliation as of February 28, 2017. The following items were identified:

Lola's book balance $35,900 Outstanding checks 12,050 Interest earned on checking accounts 75 Customer's NSF check returned by the bank 325 There was an error in recording a customer's check as the check was recorded by Lola as $110, but the correct amount of $101 was recorded by the bank. Lola's adjusted cash balance at February 28, 2017 is
Business
1 answer:
ryzh [129]2 years ago
5 0

Answer:

See below

Explanation:

Computation of Lola's Corp adjusted cash book balance at February 28, 2017

Lola Corp's book balance

$35,900

Add:

Interest earned on checking account

$75

Less:.

Customer's NSF check returned by the the bank

$325

Add:

Error in recording customer's check

($110 - $101)

$9

Adjusted cash balance

$35,659

Therefore, Lola Corp's adjusted cash book balance as at February 28, 2017 is $35,659

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6 0
1 year ago
MarketPoint Sales currently has a credit limit of $5,000. Because MarketPoint Sales has an excellent credit rating, BITS is incr
azamat

Yes , the given statement is true

Explanation:

Since the credit limit is now 10k for purchases of Marketpoint, the demand requires them.

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8 0
3 years ago
Gulph Company reported the following results for May: sales $200,000, variable costs $120,000 and fixed costs $60,000. What amou
jeka57 [31]

Answer:

Break-even point (dollars)= $275,000

Explanation:

Giving the following information:

sales $200,000

variable costs $120,000

fixed costs $60,000

desired profit= $50,000

<u>To calculate the sales required to achieve the desired profit, we need to use the break-even point in dollars formula:</u>

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2 years ago
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3 years ago
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WP Corporation produces products X, Y, and Z from a single raw material input in a joint production process. Budgeted data for t
Savatey [412]

Answer:

WP Corporation

Which of the products should be processed beyond the split-off point? Product X Product Y Product Z

B) yes no yes

Explanation:

a) Data and Calculations:

Budgeted data for the next month:

products                                                           X             Y              Z

Units produced                                              2,400      2,900       3,900

Per unit sales value at split-off                   $ 21.00   $ 24.00   $ 24.00

Added processing costs per unit                $ 3.00     $ 5.00     $ 5.00

Per unit sales value if processed further $ 25.00  $ 25.00    $ 30.00

Added profit after further processing        $ 1.00    ($4.00)      $ 1.00

Further processing of the products X, Y, and Z will yield further or added profit of $1.00 from products X and Z, but a loss of $4 from product Y.  Therefore, product Y should not be processed further, unless its cost structure is such that there is a more than $4 profit to be generated and its further processing is necessary for the other two to be sold, that is if the three products must be sold jointly.  In such a case, management could take further analysis to reduce the cost for consumers.

7 0
2 years ago
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