Answer:
Trinkle Compnay
Details Amount $
Un adjusted Balance as Per Bank Statement on Jun 30 $81,500
Add : Deposit in Transit Jun $3,150
Less : Outstanding Check June 30 $(5,611)
True Cash Balance As on June 30 $79,039
Explanation:
Answer:
Journal Entry
Explanation:
The Journal entry is shown below:-
Unrealized Holding Gain or Loss Dr, $360,000
To Estimated Liability on Purchase Commitment $360,000
(Being unrealized Holding Gain or Loss is recorded)
Working note:-
= $1.92 million - $1.56 million
= $360,000
So, at the end of the current fiscal year we simply debited Unrealized Holding Gain or Loss and credited Estimated Liability on Purchase Commitment.
Initially, a bankers' acceptance is essentially a postdated check.
<h3>What is postdated check?</h3>
- A post-dated check is one that has been written by the drawer for a future date and is used in banking. Depending on the nation, a post-dated cheque may be cashed or deposited prior to the date printed on it.
- A check can be postdated by writing one for a later date rather than the one it was written on.
- Usually, the goal is for the check recipient to hold off on cashing or depositing the check until the date that has been mentioned in the future.
- In addition to postdating checks, there are additional options to give yourself extra time to obtain the required amounts to deposit checks in your account.
Learn more about post-dated check here:
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Answer:
1. How the nation allocates resources
Explanation:
Government is the chief decision maker in any economic model because their power enables to allocate nation`s resources among economic unit. As such they keep watch on the economic changes and trends in order to make the best economic decision for the nation. When government becomes aware of economic changes, it will try to allocate resources efficiently and effectively based on signal given by the changes.
For example, if US government is aware that the economy is nearing recession, it will be put in preventive measures to escape the intending recession and make sure it allocates its scarce in efficient way among the economic units by spending more on capital projects, raising social empowerment spending and doing other necessary things.
So the discovery of economic changes will most likely influence how the nation allocates resources.