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
XYZ Development, Inc. leases commercial space to businesses. Most of the leases are long-term, from five to fifteen years in len
prisoha [69]

Answer:

B. Escalator Clause

Explanation:

An escalation clause is a clause in a lease or contract that guarantees a change in the agreement price once a particular factor beyond control of either party affecting the value has been determined. An important example of this is a contract that adjusts for inflation.

4 0
3 years ago
Big Sky Sports sells hunting and fishing equipment and provides guided hunting and fishing trips. Big Sky Sports is owned and op
stiv31 [10]

Answer:

(a)

1. Kalispell State Bank

2. Glacier Boutique

3. Big Sky Sports

4. Kalispell State Bank

5. Big Sky Sports

6. Big Sky Sports

7. None of the above

8. Glacier Boutique

9. None of the above

10. Big Sky Sports

(b) Business transactions refers to the transactions that are related to only business, such as purchase of land, machinery, goods for business purposes. Any type of personal transaction is not included in business transaction.

6 0
3 years ago
The bank statement contained two bank memoranda:1. A credit of $2,242.00 for the collection for Bogalusa Company of an electroni
serious [3.7K]

Answer:

Cash                         2,157 debit

bank service expense 85 debit

   account receivables 2,242 credit

Explanation:

To record the bank memorand:

The collection in behalf of the firm will increase cash

The new print the checks will be considered either miscellaneuos expense or bank service expense either way, will decrease cash.

Net cash variation: 2,242 - 85 = 2,157

For the Company errors another entry will be made looking for errors between our numebrs and the bank.

5 0
4 years ago
What is the speed of a wave if the wavelength is 100 m and the frequency is 20 Hz?
zmey [24]
The anwser 1,000m/s. Good Luck.

6 0
3 years ago
Viable strategic options companies should consider in tailoring their strategy to fit circumstances of emerging country markets
Pavel [41]

Viable strategic options companies should consider in tailoring their strategy to fit circumstances of emerging country markets include all of the following, EXCEPT <em>staying away from those emerging markets where it is impractical to modify the company's business model to  accommodate local circumstances.</em>

Explanation:

<em>Staying away from those emerging markets where it is impractical to modify the the company's business model to accommodate local circumstances</em> is not the best because in the long run the institution will be forced to conform with their business model which could change their mission and activities entirely. Therefore it should work on how it can please the market in a way so it can feed it at least.

#learnwithbrainly

4 0
4 years ago
Other questions:
  • A stock index is valued at $800 and pays a continuous dividend at the rate of 3% per year. The 6-month futures contract on that
    14·1 answer
  • When discussing and generating ideas with team members, you should: A. Confine the discussion to generalities and avoid any deci
    15·1 answer
  • What can other companies that are considering investing in china learn from the experiences of best buy and ebay?
    10·1 answer
  • When determining whether to record an asset as a fixed asset, what two criteria must be met?
    7·1 answer
  • If we assume that both countries specialize according to their comparative advantage, then how do we find a terms of trade that
    9·1 answer
  • If real GDP per capita measured in 2009 dollars was​ $6,000 in 1950 and​ $48,000 in​ 2018, we would say that in​ 2018, the avera
    12·1 answer
  • If, over a given period, the index of export prices rises by 10% and the index of import prices rises by 5%, the terms of trade
    12·1 answer
  • Assume the firm’s dividend payment is $0.18, and that the required rate of return for the firm’s industry is 10.1%. What is the
    7·1 answer
  • Presently, Stock A pays a dividend of $1.00 a share, and you expect the dividend to grow rapidly for the next four years at 20 p
    10·1 answer
  • Marcelino Co.'s March 31 inventory of raw materials is $90,000. Raw materials purchases in April are $560,000, and factory payro
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!