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exis [7]
3 years ago
6

The accountant for Bellows Corp. was preparing a bank reconciliation as of April 30. The following items were identified:

Business
1 answer:
nydimaria [60]3 years ago
6 0

Answer:

$27,909

Explanation:

Bellows Corp.

Bank Reconciliation as at April 30, 2013

Unadjusted book balance $28,750

Less:

Outstanding checks $900

NSF checks $381

Add:

Interest earned on checking account $80

Error correction[$730 - $370] $360

Adjusted book balance $27,909

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A building with an appraisal value of $129,668 is made available at an offer price of $158,618. The purchaser acquires the prope
Ira Lisetskai [31]

Answer:

$118,443

Explanation:

Calculation to determine what the cost basis recorded in the buyer's accounting records to recognize this purchase is

Using this formula

Cost Basis= Cash + Note payable + Mortgage amount

Let plug in the formula

Cost Basis= $36,973 + $24,989 + $56,481

Cost Basis= $118,443

Therefore the cost basis recorded in the buyer's accounting records to recognize this purchase is

$118,443

5 0
3 years ago
Light sweet petroleum, inc., is trying to evaluate a generation project with cash flows:________.
tresset_1 [31]

Answer:

a-1. NPV for the project is $8,381,576.17

a-2. A. Yes. Accept the Project.

b.  40.84 % and  40.84 %

Explanation:

The Net Present Value can be determined using a Financial Calculator as follows :

-38,600,000    CFj

62,600,000    CFj

- 11,600,000     CFj

11 %                   I/YR      

Shift NPV        $8,381,576.17        

A Company should accept projects that have a positive Net Present Value.Therefore, Accept this project.

Calculation of the Internal Rate of Return using a Financial Calculator :

-38,600,000    CFj

62,600,000    CFj

- 11,600,000     CFj

Shift IRR           40.84 %

3 0
3 years ago
Please select that whether below statements are correct or not?
Vlad1618 [11]

Answer:

Only the fourth statement is correct

Explanation:

The first statement is wrong as stock price can be worth less than its book or par value depending on the performance of the company from which the stock price derives its value.

The second statement is also not correct as convertibility implies that holders of preference shares or bonds are able to convert their holdings into a known quantity of common stock in the future not the other way round.

Dividend payments are fixed for only preferred stockholders,common stockholders are exposed to variable dividend payments which dependent on the performance of the company and the also the company's need for cash.

Limited liability is a protective provision as it aids corporation in raising funds as the investors are certain that their liability in case of the company in the event of the going bankrupt is limited to the amount invested in the company unlike sole proprietorship that could be made to pay debts from private pockets

4 0
3 years ago
On January 1, 2021, Yancey, Inc. signs a 10-year noncancelable lease agreement to lease a storage building from Holt Warehouse C
Tom [10]

Answer:

The correct answer is D At the termination of the lease, the title to the building will be transferred to the lessee.

Explanation:

8 0
3 years ago
The Market for Hotel Rooms. Suppose with no tax the equilibrium price is $110 and the equilibrium quantity is 250. If the local
ch4aika [34]

Answer:

130, 150

Explanation:

Here, in the question the graph is missing. So, in the attachment the graph is attached.

Equilibrium is the state or condition, where there is balance or stable situation, which means that the opposing forces cancel each other force out and no changes or variations happen or occur.

In short, it is defined as the state where the quantity demanded is equal to the  quantity supplied, where there is no loss to the business.

From the graph, we could analyze that the new equilibrium price is 130 and at this price, the new equilibrium quantity is 150.

4 0
3 years ago
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