1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
koban [17]
3 years ago
7

The Sandeep Company's April 30 pre-reconciliation cash balance on its books was $35,000. While preparing the April 30 bank recon

ciliation, Sandeep determined that outstanding checks total $11,000, deposits in transit total $7,000, and bank service charges are $50. Assuming there are no other reconciling items, what was Sandeep's April 30 cash balance per the bank statement
Business
1 answer:
Murljashka [212]3 years ago
3 0

Answer: $38,950

Explanation:

The bank balance and the book cash balance might often be different for different reasons, one of which is due to the transactions recorded in the books not having been processed by the banks amongst others.

The books and bank balance will therefore need to be reconciled.

Balance per bank statement = Cash balance in books + Outstanding checks - Deposits in transit - Bank charges

= 35,000 + 11,000 - 7,000 - 50

= $38,950

You might be interested in
I am not sure what to put on each line. I need help
Contact [7]

Since the question says you have $1,000 to spend or save you have to put what are the risks, advantages and disadvantages you might have with a,b,c and d

4 0
3 years ago
Coolmist produces high-quality juices and competes for head-on with the large national brands. Because of this stiff competition
seraphim [82]

Answer:

d. Buy in-the-money calls on oranges

Explanation:

A call option is an option to buy a product or asset at a stated price at a later date. The risk of call option is capped at premium for buying the option. The best financial engineering strategy for Coolmist is to buy in the money calls on oranges. This gives Coolmist a right to buy oranges at predetermined price at a later date. This minimizes the risk of upward price strike of oranges.

3 0
3 years ago
In 2016, Joshua gave $12,500 worth of XYZ stock to his son. In 2017, the XYZ shares are worth $25,000. What is the total amount
Elina [12.6K]

Answer:

$12,500

Explanation:

Calculation for the total amount removed from Joshua’s estate in 2017

Since we were told that In 2016, Joshua gave the amount of $12,500 to his son in which in the same year which was 2017, the XYZ shares are worth the amount of $25,000 which means that the total amount removed from Joshua’s estate in 2017 will be $12,500 ($25,000-$12,500).

8 0
4 years ago
Completeness is the most important attribute of a business message. select one:
Ray Of Light [21]
That would be considered True in most environments
4 0
4 years ago
Read 2 more answers
_____ occurs when investors earn interest in the current time period on interest earned in previous time periods.
Oliga [24]
Is it Compound interest?
7 0
3 years ago
Other questions:
  • Following high-profile corporate scandals including Enron and WorldCom, Congress
    14·1 answer
  • Company A is a manufacturer with current sales of $3,400,000 and a 60% contribution margin. Its fixed costs equal $1,600,000. Co
    15·1 answer
  • E8.14 (LO 4), AP Eileen Corp. had the following balances in receivable accounts at October 31, 2022 (in thousands): Allowance fo
    5·1 answer
  • Thousands of people develop lung cancer from second-hand exposure to cigarette smoke. This is an example of a. a market failure
    10·1 answer
  • Like many characters created for commercials, the Chihuahua in the Taco Bell commercials has appeared on T-shirts, caps, cups, a
    12·2 answers
  • A causal study is one that _____.
    6·1 answer
  • The project manager has concerns about the software developer's project work in terms of quality and has spoken to the developer
    11·1 answer
  • What would be the cost of retained earnings equity for Tangshan Mining if the expected return on U.S. Treasury Bills is 5.00%, t
    11·1 answer
  • Which of the following is an example of an effective persuasive speech topic for a group of elementary school children?
    6·2 answers
  • Oriole Inc. reported total assets of $6392000 and net income of $500000 for the current year. Oriole determined that inventory w
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!