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Nolan Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the close

algol13

Answer:

Balance as per cash book $ 20,621

Less: Debit memorandum $ ( 22)

Add: Interest earned on bank balance $ 34

Add: Correction of error $ 9

Adjusted balance per cash book $ 20,642

Balance as per bank statement $ 19,791

Add: Deposits in Transit $ 3,333

Less: Outstanding checks $ ( 2,482)

Adjusted balance per bank statement $ 20,642

Explanation:

The debit memorandum from the bank has to be adjusted from the cash book. This is only known from the bank statement

The interest earned on the bank balance is only known from the bank statement and has to be adjusted in the cash book

The correction of error needs to be corrected in the cash book.

The deposits in transit have been recorded in the cash book so no adjustment is needed there. The money has not been deposited so the bank statement balance has to be added thereto,

The checks issued by the Company, have been properly recorded in the cash book, however, since the checks have not been encashed the bank balance needs to be reduced to reconcile the balance.

3 0

3 years ago

"Total revenue equals the price multiplied by the quantity. The relative change price and quantity is given by the concept of __

Flura [38]

Answer:

Elasticity

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

Demand is inelastic if a small change in price has little or no effect on quantity demanded.

Demand is unit elastic if a small change in price has an equal and proportionate effect on quantity demanded.

I hope my answer helps you

7 0

3 years ago

A $1,000 par bond with a semi-annual coupon and 12 years to maturity is currently priced $880 and has a yield to maturity of 5.3

jok3333 [9.3K]

Answer:

Annual Coupon rate = 0.040005 or 4.0005% rounded off to 4.00%

Explanation:

To calculate the price of the bond today, we will use the formula for the price of the bond. We assume that the interest rate provided is stated in annual terms. As the bond is a semi annual bond, the coupon payment, number of periods and semi annual YTM will be,

Coupon Payment (C) = C

Total periods (n) = 12 * 2 = 24

r or YTM = 0.0537 * 6/12 = 0.02685 or 2.685%%

The formula to calculate the price of the bonds today is attached.

We will first calculate the value of semi coupon payment made by the bond.

880 = C * [( 1 - (1+0.02685)^-24) / 0.02685] + 1000 / (1+0.02685)^24

880 = C * 17.52482779 + 529.4583737

880 - 529.4583737 = C * 17.52482779

350.5416263 / 17.52482779 = C

C = 20.0025718 rounded off to 20.00

The annual coupon payment will be = 20.0025718 * 2 = 40.00514361 rounded off to 40.01

Annual Coupon rate = 40.00514361 / 1000 = 0.040005 or 4.0005% rounded off to 4.00%

5 0

2 years ago

Fiat money:________.a) has no intrinsic value. b) is backed by gold. c) is a medium of exchange but not a unit of account. d) is

liberstina [14]

Answer: a) has no intrinsic value

Explanation:

Fiat currency is money that is used in a country and is regulated by the central bank of that country. Fiat money has no commodity backing it such as gold or silver and has no intrinsic value of its own.

It is instead backed by the full faith and credit of the government of the country that produces it. For instance, the US dollar is backed by the full faith and credit of the US government.

3 0

3 years ago

what term describes the conscious, systematic process of making decisions about goals and activities that an individual, group,

Natali5045456 [20]

The term that gives clues about decision making towards one goals as well as ones activities as regards this question can be referred to as Planning.

Planning can be regarded as process that involves thinking about activities needed in achieving ones goal as well as organizing these activities in way that would make it easier to achieve the desired goal.

Planning can as well be explained as management process which concerned about defining goals for the future of company and its direction.

Planning helps in determining the missions as well as the resources needed in achieving those targets.

Therefore, Planning involve setting ones goal and all process involves in pursuing it.

Learn more at: brainly.com/question/22939933?referrer=searchResults

7 0

2 years ago