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3 years ago

The following items may appear on a bank statement:

Business

1 answer:

jek_recluse [69]3 years ago

5 0

Answer:

a. NSF check ⇒ non-sufficient funds check: it is a debit memo that decreases the account balance. One or more of the checks from third parties that you deposited didn't have enough funds to be cashed.

b. EFT deposit ⇒ electronic funds transfer: credit memo that increases the account balance. Someone deposited money to your account through an electronic transfer, e.g. online transfer.

c. Service charge ⇒ debit memo that decreases the account balance. This is a fee charged to you by the bank for the banking services provided.

d. Bank correction of an error from recording a $300 check as $30 ⇒ debit memo that decreases account balance. A check that you wrote was erroneously recorded as $30 when its value was $300.

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Berry Corporation has 100,000 shares of $10 par common stock authorized. The following transactions took place during 2017, the

Y_Kistochka [10]

Answer:

$570,000

Explanation:

The computation of total paid-in capital is shown below:-

Common stock issued for cash

Cash Dr, $270,000 (20,000 × $13.50)

To Common Stock $200,000 (20,000 × $10)

To Additional paid in capital $70,000 (20,000 × ($13.50 - $10)

(Being common stock issued for cash is recorded)

Common stock issued for patent

Patent (FMV of patent) Dr, $300,000

To Common Stock $200,000 (20,000 × $10)

To Additional paid in capital $100,000 (20,000 × $10 ÷ 2)

(Being common stock issued for patent is recorded)

For recording this two entries we debited the cash as it rise assets and at the same time it also rise the overall stockholder equity so common stock and the additional paid in capital for common stock is credited

So,

Total paid in capital = Common Stock + Additional paid in capital

= ($200,000 + 200,000) + ($70,000 + $100,000)

= $400,000 + $170,000

= $570,000

6 0

3 years ago

This is known as a speaker's ability to use and implement a range of different language choices in

olga_2 [115]

Answer:

The correct answer is variety.

Variety is known as a speaker's ability to use and implement a range of different language choices in their speech.

6 0

3 years ago

A company failed to record unrealized gains of $21 million on its trading security investments. Its tax rate is 40%. As a result

castortr0y [4]

Answer:

A) Understated by $12.60 million

Explanation:

Given that,

Unrealized gains = 21 million

Tax rate = 40%

Total shareholders equity therefore

= 21,000,000 × (1 - 0.40)

= 21,000,000 × 0.60

= $12,600,000

Therefore, total equity will be understated by $12.60 million

8 0

3 years ago

Consider the relationship between monopoly pricing and the price elasticity of demand. if demand is inelastic and a monopolist r

Phoenix [80]

That statement is true.
This usually happen for the commodities that are very crucial to our everyday lives, such as food, water, or oil.
No matter how much the price of these commodities increases, the demand for them will always remain constant.

5 0

3 years ago

Oceanic Company has 15,000 shares of cumulative preferred 2% stock, $150 par and 50,000 shares of $15 par common stock. The foll

laiz [17]

Answer and Explanation:

The computation of the dividends per share for preferred and common stock is shown below:-

Annual preferred Dividend = 15000 × $100× 2% = $30,000

Oceanic Company

2011 2012 2013

Net income (A) $67,500 $22,500 $135,000

Less: Total Preferred Dividend paid

Preferred Dividend $30,000 $22,500 $37,500

($30,000 + ($30,000 - $22,500)

Available common stock $37,500 $0 $97,500

Preferred Stock holder

outstanding $15,000 $15,000 $15,000

Common stock shares

outstanding 50,000 50,000 50,000

Dividend per share

Preferred $2.00 $1.50 $2.50

For computing the dividend per share we simply divide preferred dividend by Preferred Stock holder outstanding

Common stock $0.75 $0.00 $1.95

In the same manner for computing the Dividend per share common stock we simply divide the available common stock by common stock shares outstanding.

7 0

4 years ago