Answer:
Explanation:
Bank reconciliation is practice of reconciling the bank account balance in a company's book to the balance reported by the bank i order to discover and correct any discrepancy
<u>Workings</u>
<u>Bank reconciliation for Nolan for the month of June</u>
Bank statement balance 28,152
Add bank deposit 3,853 3853
32,005
Less outstanding check (2801) (2801)
29,204
Cash book balance 29,193
Add back error in check (89-80) 9
Interest Earned 34 43
29,236
Less bank charges 32 (32)
29,204
Answer:
Total cash= $265,000
Explanation:
Giving the following information:
Sales:
July $200,000
August $300,000
September $250,000.
40% of the sales are for cash, and 60 percent are on credit. For the credit sales, 50 percent are collected in the month of sale and 50 percent the next month.
We need to determine the cash collection for September:
Cash collection:
Sales in cash September= 250,000*0.4= 100,000
Sales on account September= (250,000*0.6)*0.5= 75,000
Sales on account August= (300,000*0.6)*.5= 90,000
Total cash= $265,000
Grammar,Spelling and punctuation.Correct grammar, punctuation and spelling are key in written communications. The reader will form an opinion of you, the author, based on both the content and presentation, and errors are likely to lead them to form a negative impression.
Answer:
Option (e) is correct.
Explanation:
Jungle gyms:
Contribution margin per unit:
= Selling price - variable expenses
= $120 - $90
= $30
No. of units sold = 12,000
Tree houses:
Contribution margin per unit:
= Selling price - variable expenses
= $200 - $100
= $100
No. of units sold = 8,000
New sales mix ration = 12,000:8,000
= 3:2
Contribution margin ratio:
= (Contribution ÷ Sales) × 100
= [($30 × 3) + ($100 × 2) ÷ ($120 × 3) + ($200 × 2)] × 100
= $290 ÷ $760
= 38%
Answer:
quantity
Explanation:
An import quota is a restriction on the quantity of products that can be import to a country. This measure protects domestic production and assure a bigger share of it in the market for local companies