Answer:
The Marston Corp. disbursement float is $ (16,768.00)
Explanation:
The firm writes 28 checks a day for an average amount of $398 each, is equal to say = 28 * $398 = $ 11,144.00 . If these checks generally clear the bank 3 days after they are written, then = $ 11,144.00 * 3 = $ 33,432.00
And, the firm generally receives 40 checks with an average amount of $502 each, is equal to say = 40 * $502 = $ 20,080.00 . If the deposited amounts are available after an average of 2.5 days, then = $ 20,080.00 * 2.5 = $ 50,200.00
The Marston Corp. disbursement float is = $ 33,432.00 - $ 50,200.00 =
$ (16,768.00)
Answer:
A Treasury Bonds (T-Bonds)
Explanation:
The face value of treasury Bonds is $1,000 and maturities of between 10 and 30 years.
Answer:
$18,640
Explanation:
Given that,
Balance as per books = $6,500
Non Sufficient fund checks returned by the banks = $3,200
Bank service charge = $60
The bookkeeper recorded a $ 1,700 check as $ 17,100 in payment of the current month's rent.
Adjusted book balance:
= Balance as per books + Wrong entry - Non Sufficient fund checks returned by the banks - Bank service charge
= $6,500 + ($17,100 - $1,700) - $3,200 - $60
= $18,640
Answer:
option (b) Lewis has $179 more than Mary
Explanation:
Given:
Amount invested by Mary = $3700
Interest yield by Mary = 3.2% = 0.032
Amount invested by Lewis = $3000
Interest yield by Lewis = 5.9% = 0.059
Time duration = 15 years
Now,
The simple interest is calculated as:
Interest = Principle × Rate × Time
Therefore,
for Mary
Interest = $3700 × 0.032 × 15 = $1776
thus,
The total amount Mary will have = $3700 + $1776 = $5476
For Lewis
Interest = $3000 × 0.059 × 15 = $2655
thus,
The total amount Mary will have = $3000 + $2655 = $5655
Hence,
Lewis will have more money
The difference in money = $5655 - $5476 = $179
Hence,
The correct answer is option (b) Lewis has $179 more than Mary
Answer and Explanation:
The Journal entry is shown below:-
1. Amortization expense - copyrights $20,000 ($120,000 ÷ 6)
To copyrights $20,000
(Being amortization expense is recorded)
Here we debited the amortization expense - copyrights as expenses is increasing and we credited the copyrights as assets is decreasing.
2. Amortization expense - Patents Dr, $11,250 ($54,000 ÷ 4) × 10 ÷ 12
To Patents $11,250
(Being amortization expense is recorded)
Here we debited the amortization expense - patents as expenses is increasing and we credited the patents as assets is decreasing.
3. No Journal entry is required as IFRS good will is no longer granted to be amortized.
