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3 years ago

How to calculate for opening bank balance

Business

1 answer:

nignag [31]3 years ago

5 0

Answer:

The opening balance is the amount of money that is available in the bank at the beginning of each financial period, such as the start of each month or each year. It is the amount brought forward and first figure entered in the account at the beginning of each period. When the amount is newly opened, the opening balance is the first amount entered in the account

Therefore, the opening balance is the difference between the closing balance and the deposit less the withdrawals within a period

Closing Balance = The Opening Balance + Total Income - Total Expense

Therefore;

<em>The Opening Balance = Closing Balance - Total Income + Total Expense</em>

Explanation:

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kicyunya [14]

Answer:

The dealer will sell 15 Volvos

Explanation:

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3 years ago

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Dafna1 [17]

Answer:

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Explanation:

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4 years ago

Malko Enterprises’ bonds currently sell for $1,050. They have a 6-year maturity, an annual coupon of $75, and a par value of $1,

scoundrel [369]

Answer:

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Explanation:

As we know that: current yield = Annual coupon payment/Current market price of bond

= 75/1050

= 7.14%

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3 years ago

Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, th

DerKrebs [107]

Answer:

Allocated overhead= $173,137.5

Explanation:

Giving the following information:

Estimated overhead= $243,000

Estimated direct-labor hours= 8,000

Actual direct labor-hours were 5,700.

First, we need to calculate the predetermined overhead rate:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 243,000/8,000

Predetermined manufacturing overhead rate= $30.375 per direct labor hour

Now, we can allocate overhead based on actual direct labor hours:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated overhead= 30.375*5,700= $173,137.5

8 0

3 years ago

How to calculate for opening bank balance​

How to calculate for opening bank balance