Why is Berkshire Hathaway underpreforming?

If a check correctly written and paid by the bank for $936 is incorrectly recorded in the company's books for $963, how should t

motikmotik

Answer:

The difference of $27 will be added in the bank reconciliation statement.

Explanation:

With regards to the above information,

Since bank paid $936 but was recorded as $963 in the company's books.

The difference would therefore be ;

= $963 - $936

= $27.

This means that in the company's books, the balance is shown less than the actual balance by $27

Therefore, $27 will be added to the balance in the bank with regards to the books while preparing the bank reconciliation statement.

Hence, $27 which is $963 - $936 will be added in the bank reconciliation statement.

6 0

4 years ago

Mary buys an annuity that promises to pay her $1,500 at the end of each of the next 20 years. The appropriate interest rate is 7

alina1380 [7]

Answer:

PV= $15,291.74

Explanation:

Giving the following information:

Annual cash flow= $1,5000

Number of years= 20

Interest rate= 7.5%

To calculate the present value, first, we need to determine the future value using the following formula:

FV= {A*[(1+i)^n-1]}/i

A= annual cash flow

FV= {1,500*[(1.075^20) - 1]} / 0.075

FV= $64,957.02

Now, we can calculate the present value:

PV= FV/(1+i)^n

PV= 64,957.02/(1.075^20)

PV= $15,291.74

7 0

4 years ago

One year ago, you invested $3,250.00. Today, it is worth $4,000.00. What rate of interest did you earn

mojhsa [17]

Answer:

23.08%

Explanation:

Future value =Present value*(1+r)^n

$4,000 = $3,250*(1+R)^1

$4,000 = $3,250*(1+R)

1+R = $4,000/$3,250

1+R = 1.230769

R = 1.230769 - 1

R = 0.230769

R = 23.08%

8 0

3 years ago

Which terms will make the following statement true? When manufacturing overhead is overapplied, the Manufacturing Overhead accou

kupik [55]

Answer:

Answer is a) debit, actual

Manufacturing Overhead account has a debit balance and applied manufacturing overhead is greater than the actual manufacturing overhead

Explanation:

Overheads are applied to product costs using budgeted overhead rates. Budgeted rates are used because the delays in obtaining actual overhead affects timeous product valuation for profit purposes

Over applied situation occurs when the applied overheads exceeds the actual manufacturing overhead.

<em>The Manufacturing Overhead Account will have the following entries:</em>

Transfer to work in Progress figure - credit (with applied overheads)

Bank - debit (actual overhead)

Balancing figure or shortfall - debit (over-applied)

8 0

3 years ago

TryFit Co. uses process costing to account for the production of energy food bars. Direct materials are added at the beginning o

lubasha [3.4K]

Answer:

$37,654.00

Explanation:

beginning WIP = $13,000 + $10,000 = $23,000

costs added during the month = $42,000 + $46,000 = $88,000

total materials costs = $55,000

materials cost per EUP = $55,000 / 24,000 units = $2.29

total conversion costs = $56,000

conversion cost per EUP = $56,000 / 19,000 = $2.95

ending inventory = (10,000 x $2.29) + (10,000 x $2.95 x 50%) = $37,650

8 0

3 years ago