Answer:
Adjusted balance = $23,387
Explanation:
Franklin Company
Bank Reconciliation statement
Bank balance as of August 31 $21,837
Add: Deposit in transit <u> $ 7,350</u>
$29,187
<u>Less: Outstanding check $(5,800)</u>
Adjusted cash balance $23,387
Cash balance as of August 31 $22,662
Add: Collection of Note receivable <u> $ 870</u>
$23,532
<u>Less: Bank service charge $( 145)</u>
Adjusted cash balance $23,387
Using simple interest, she will have $410 at the end of six months.
Principle = $400
Rate = 5%
Time equals 6 months, or 0.5 years.
Simple interest is equal to PRT/100.
S.I. = 400*5*(1/2)/100
S.I. = 10
Consequently, $400 plus $10 equals $410.
<h3>What is simple interest?</h3>
To calculate the amount of interest that will be charged on a loan, use the quick and easy formula known as simple interest. For the purpose of calculating simple interest, the daily interest rate, the principal, and the number of days between payments are multiplied.
A loan's principal or the first deposit into a savings account serves as the basis for simple interest. Because simple interest doesn't compound, a creditor would only pay interest on the principal sum, and a borrower will never have to pay interest on the interest that has already accrued.
Learn more about simple interests, from:
brainly.com/question/25845758
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<span>While the role of the state in a command economy is to be Dominant, in a market economy the state's role is to be Passive
</span>
Answer:
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Current balance in the general ledger cash account is $5,320
Explanation:
General ledger
Opening balance $4,000
(Add)
A note collected by a customer $1,000
interest collected by a customer $40
NSF check from a customer $300.
------------------
$5,340
(Less) bank service charges $20
---------------
Balance in the general ledger
cash account is $5,320
current balance in the ledger cash account =
( $4,000+ $1000+ $40+ $300- $20= $5320)
