Brad Banks is confused about the lack of agreement between the cash balance per books and the balance per bank. Please explain to Brad the causes for the lack of agreement and provide an example of each cause.

Answers

Answer 1

Answer:

Most of the other issues is the lack of memorandum of understanding seen between financial statement according to the novels as well as the balance and according to the financial institution are almost as following.

Explanation:

Checks issued but not submitted for compensation:

In those kinds of case scenarios, the checks are authorized to either the creditors besides compensation, but they've never been submitted to either the finance company. Besides obvious reasons, Brad banks would have authorized a $5,000 check with Tom.

Direct debits are not documented throughout publications by the bank:

In such case scenarios, the bank has automatic payments throughout the consideration, and therefore this would not be recognized at the time including its account holders.


Related Questions

Three members of Ahmad's family work at BioTechno, a multi-national drug manufacturer. Each of them owns 5% shares of the company respectively. In fact, most of the employees of BioTechno, like Ahmad and his family members, are stockholders of the company. BioTechno can be regarded as a _____.

Answers

Answer:

Public or Private company!

Explanation:

I don't know exactly what you're asking for here, but I believe the blank could be a private company.

If most (or only) Ahmad's family owns stocks of this company it would have to be a private company because a small group of people is the stockholders. But let us just say Ahmad's family is super-rich and they invested in BioTechno, which is a mid-cap stock. They own around 40% of the stocks, but a lot of others also own this stock. In that scenario, it would be a public company!

Currently there are two assets to invest. Asset A has a beta of 0.5 and an expected return of 0.04, and Asset B has a beta of 1.2 and an expected return of 0.16. These are the only two assets available for investing. Your task is to find what combination of these two assets will give you an portfolio expected return of 0.13

Answers

Answer:

the  percentage investment made in Asset A and asset B is 25% and 75% respectively

Explanation:

The computation of the percentage investment made in Asset A and asset B

Here we assume the weight of asset A be x

And for Asset B it would be (1 - x)

Now

0.04x + 0.16 (1 - x) = 0.13

0.04x + 0.16 - 0.16x = 0.13

-0.12x = -0.03

x = 25%

(1 - x) = 0.75 or 75%

Therefore the  percentage investment made in Asset A and asset B is 25% and 75% respectively

why do people hate taxes?

Answers

because they hate math and money

Treasury bills are currently paying 7 percent and the inflation rate is 2.7 percent. What is the approximate real rate of interest

Answers

Answer:

the approximate real rate of interest is 4.3%

Explanation:

The computation of the approximate real rate of interest is as follows;

As we know that

The Approximate Real rate of interest is

= Treasury bills rate -  Inflation rate

= 7% - 2.7%

= 4.3%

Hence, the approximate real rate of interest is 4.3%

It could be come by applying the above formula so that the correct percentage could arrive

A joining of two or more businesses that are involved in different stages of producing a good or service, for
instance a tire and rubber company, is called a

Answers

Decent worker that works for a tire and rubber company

Consider a perfectly competitive firm that produces computers. Each additional worker at this firm can produce four computers. Calculate the marginal factor cost if the computers are sold for $1,000 each, and the firm is maximizing profit. (Assume that marginal revenue product is the product of marginal product of the input and the marginal revenue of the firm.)

Answers

Answer:

$4,000

Explanation:

Each additional labor can produce 4 computers and each computer is sold for $1,000. This mean that the value of the marginal product of labor is $4,000 (1,000*4). At equilibrium, the value of marginal product of labor equals the wage rate. Therefore, the marginal factor cost is $4,000.

what is the importance of analyzing and recording transactions​

Answers

Transaction analysis is a common activity for accountants. The process often involves looking at the documents that support a business activity. Accountants must make various judgments based on the information contained in these documents. This analysis is necessary for all transactions to meet specific purposes in traditional accounting activities.

Assume that locating a cement factory in the middle of Boston would save the producer $5 million at a public expense, in pollution and traffic noise, of $20 for each of 500,000 Boston residents. 1. What is the minimum amount that Boston residents would have to pay to stop the plant from being built if the owner has a legal right to build

Answers

Answer:

$5 million

Explanation:

If we follow the Coase Theorem, the appropriate solution to this case should be obtained regardless of initial rights. In this case, the factory saves $5 million to the producer, but it costs $10 million to Boston residents. if Boston residents pay $5 million or more to the factory owner, then both would benefit. Boston residents will gain $10 - $5 = $5 million, as well as the factory owner.

Calculate how much you would have in 25 years if you saved $3,000 a year at an annual rate of 9 percent with the company contributing $750 a year. Use Exhibit 1-B. (Round time value factor to 3 decimal places and final answer to the nearest whole dollar.)Future value $

Answers

Answer:

the amount have in 25 years is $317,628

Explanation:

The computation of the amount have in 25 years is shown below:

PMT = Payment saved per year

= $3,000 + $750

= $3,750.00

N = Periods of payment = 25 years

R = Rate = 9%

Now the formula is

FV = (PMT × ((1 + R)^N-1) ÷ (R)  

= $3,750 × ((1 + 9%)^25-1) ÷ (9%)

= $317,628

Hence, the amount have in 25 years is $317,628

If, at some interest rate, the quantity of money demanded is less than the quantity of money supplied, people will desire to

Answers

I think people will desire to produce less money so it will meet with the quantity of money needed to be demanded

Explanation:

i have no idea

Answer:

which profession do you prefer to choose for your career . why?

Recall that trading by arbitrageurs (smart investors) tend to make prices better reflect fundamental value. We know that institutional investors (funds) tend to trade stocks with large market capitalization because those stocks are more liquid (easier to trade). Does this imply that the prices of large capitalization stocks tend to be more efficient

Answers

Answer:

Yes, the prices of large capitalization stocks tend to be more efficient.

Explanation:

Large capitalization stocks are much more liquid than small capitalization stocks since they belong to well established companies that are generally industry leaders. A lot of investors trade their stocks every single day, which results in thousands of them being sold every trading day. That also lowers the opportunity for arbitrage, since a large of investors must be wrong and a single (or a few) arbitrator must be right.

Large capitalization stocks generally have more stable prices and tend to pay consistent dividends. Their sustainable growth rate is lower than most small capitalization stocks but it is much more steady. This also results in lower potential returns when investing in large capitalization stocks since they pose a very low risk. On the other hand, small capitalization stocks pose a larger risk and one of them is that they are not valued correctly (which allows arbitrators to step in).

Lenore, a single California taxpayer, has taxable income before capital gains of $78,000 and a long-term capital gain of $5,000 on the sale of RSS stock. What is the total amount of California state tax Lenore will pay on the capital gain

Answers

Answer:

As we all know Long term capital gain is always taxed at 15% as per the federal taxation but in California the taxation is bit different the long term capital gain is not taxed separately it is included in the income and it is considered as Ordinary income and is taxed at regular individual tax rates.  So, Tax that Lenore as to pay as per the Federal Taxation is 15% of $5,000 = $750. But Tax that Lenore gas to pay as per the California Taxation is 9.3% of $ 5,000 = $465, which is treated as a tax paid on ordinary income.

The current price of LC Corporation stock is $60. In each of the next two years, this stock price can either go up by 10% or go down by 5%. LC stock pays no dividends. The one-year risk-free interest rate is 6% and will remain constant.

Compute the price of a derivative that pays $10 if the stock goes up twice, $5 if it goes down twice and $50 otherwise.

Group of answer choices
a) 22.51
b) 35.34
c) 25.30
d) 23.86

Answers

Answer:

a. 22.51

Explanation:

The value of the stock is in the money as if the value of stock goes up twice then the new value of the stock will be $60 * 10% * 2 = $72.6

The value of the option is in the money as the new value of the option is greater than the current price.

Suppose the economy starts off producing Natural Real GDP. Next, aggregate supply rises, ceteris paribus. As a result, the price level falls in the short run. In the long run, when the economy has moved back to producing Natural Real GDP, the price level will be Question 4 options:

Answers

Answer:

The price level will be equal to what it was before there was a rise in the aggregate supply.

Explanation:

In economics, natural gross domestic product (Natural Real GDP) can be described as the maximum level of real GDP that can be  sustained by an economy over the long term. The Natural Real GDP is also known as the potential output.

From the question, since the economy has moved back to producing Natural Real GDP which is the maximum real GDP sustainable, the price level will be equal to what it was before there was a rise in the aggregate supply.

Therefore, the price level will be equal to what it was before there was a rise in the aggregate supply.

On January 1, X9, Gerald received his 50 percent profits and capital interest in High Air, LLC, in exchange for $2,800 in cash and real property with a $3,800 tax basis secured by a $2,800 nonrecourse mortgage. High Air reported a $15,800 loss for its X9 calendar year. How much loss can Gerald deduct, and how much loss must he suspend if he only applies the tax basis loss limitation

Answers

Answer:

The answer is "$2,700".

Explanation:

[tex]Cash= \$2,800\\\\ Real\ Property= \$3,800 \\\\ Nonrecourse \ mortgage =\$2,800\\\\ Loss \ reported =\$15,800[/tex]

[tex]\text{Initial tax base for Gerald} =[/tex]  

[tex]\text{cash exchange} + \text{real property tax base}-\text{mortgage with no recourse} +(50 \% \times \$2,800)[/tex]

[tex]= \$ 2,800+\$3,800-\$2,800+(50\% \times \$2,800)\\\\ = \$2,800+\$3,800-\$2,800+\$1,400\\\\= \$5,200[/tex]  

Gerald's loss will be given [tex]50\%[/tex], i.e. [tex]\$15,800 \times 50\% = \$7,900[/tex]

Gerald will actually only subtract his salary, and therefore Gerald would only deduct $5,200.  

Losses of [tex]\$2,700 (\$7,900-\$5,200)[/tex] were suspended but continued indefinitely.

Isaiah is a Financial Quantitative Analyst for a major stock investment company. What does Isaiah do on a daily basis as a part of his job?

He researches, analyzes, and summarizes information about fraud.
He assesses financial situations using mathematical models.
He analyzes tax information using mathematical formulas.
He manages the paperwork for buying and selling securities.

Answers

Isaiah is a Financial Quantitative Analyst for a major stock investment company. He assesses financial situations using mathematical models. Therefore Option B is correct.

What is a Financial Quantitative Analyst?

A quantitative analyst, also known as a "quant," is a professional who uses statistical and mathematical techniques to solve financial and risk management issues. In order for businesses to make financial and business decisions on things like investments, pricing, and other things, they create and implement complicated models.

An expert in financial quantitative analysis advises organizations and people who are making investment decisions. In order to locate profitable investments for their clients, they examine and assess available investment alternatives.

To create trading algorithms and computer models, financial quantitative analysts process a wide range of data. They just use numbers to determine their investments.

Hence, He assesses financial situations using mathematical models.

To know more about Financial Quantitative Analyst follow the link.

https://brainly.com/question/2554016

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what is an event management

Answers

Answer:

vent management is the application of project management to the creation and development of small and/or large-scale personal or corporate events such as festivals, conferences, ceremonies, weddings, formal parties, concerts, or conventions.

Explanation:

Choose the correct option for the given statement. When processing time is more than 10 seconds, it is recommended that __________________.

Answers

Answer:

The System shows a progress bar, indicating the status of completion

Explanation:

In the case when the processing time is higher than 10 seconds so it should be suggested that the system depicts the progress bar where it represent how much it is completed i.e. it shows the completion status

Therefore as per the given situation, the third option is correct as it is directly linked with the processing time and rest of the options are wrong

You have a client whose business uses accrual-basis invoicing and accounts receivable workflow. They use the Banking screen to enter a deposit for a payment check, which they post manually to an income account. What problem will this cause?

Answers

Answer: Their Accounts Receivable balance will not be accurate.

The income account will show duplicate income.

Explanation:

Based on the information given in the question, the problem that this will cause is that there'll be an incorrect balance that is shown in the balance of the accounts receivable.

Also, there'll be a duplicate income entry that is created in the income account.

High Sky Inn is a bed and breakfast establishment in a converted 100-year-old mansion. The Inn's guests appreciate its gourmet breakfasts and individually decorated rooms. The Inn's overhead budget for the most recent month appears below:

Activity level 90 guests

Variable overhead costs:
Supplies $234
Laundry 315

Fixed overhead costs:
Utilities 220
Salaries and wages 4,290
Depreciation 2,680
Total overhead cost $7,739

The Inn's variable overhead costs are driven by the number of guests. What would be the total budgeted overhead cost for a month if the activity level is 99 guests?

a. $61,541.00
b. $7,793.90
c. $8,512.90
d. $7,739.00

Answers

Answer:

b. $7,793.90

Explanation:

Calculation for What would be the total budgeted overhead cost for a month if the activity level is 99 guests

TOTAL BUDGETED OVERHEAD COST

Overhead costs:

Variable overhead costs:

Supplies $ 257.40

[ ($234 ÷ 90 guests)*99 guests].

Laundry $346.50

[($315 ÷ 90 guests)*99 guests]

Total variable overhead cost 603.90

($ 257.40+$346.50)

Fixed overhead costs:

Utilities 220.00

Salaries and wages 4,290.00

Depreciation 2,680.00

Total fixed overhead cost 7,190.00

(220.00+4,290.00+2,680.00)

Total budgeted overhead cost$7,793.90

(7,190.00+603.90)

Therefore What would be the total budgeted overhead cost for a month if the activity level is 99 guests will be $7,793.90

Pharoah Company has $1520000 of bonds outstanding. The unamortized premium is $21900. If the company redeemed the bonds at 101, what would be the gain or loss on the redemption?
a) $6700 gain
b) $6700 loss
c) $15200 gain
d) $515200 loss

Answers

Answer: b) $6,700 loss

Explanation:

The bonds were redeemed at 101 so Pharaoh Company paid;

= 1,520,000 * 101/100

= $‭‭1,535,200‬

Gain on bond retirement (loss) = Bond Value + Unamortized premium - Cash paid

= 1,520,000 + 21,900 - ‭1,535,200‬

= $6,700

Matthew is an ordained minister. His church provides him a housing allowance, all of which Matthew spends to rent his home and pay his utilities. Matthew can:

Answers

Answer:

Exclude the housing allowance from net earnings for income tax.

Explanation:

Matthew can exclude the housing allowance from net earnings for income tax.

What is housing allowance?

A housing allowance is a type of payment meant to compensate employees' housing expenditures. Rent or mortgage payments, as well as ancillary expenditures such as cleaning and daycare, can all be included.

Housing allowances are frequently offered when an employee is required to reside someplace other than their typical region for business reasons, such as in a remote location or a different state or nation. They might be included in an employment contract or provided as an incentive for current employees to migrate.

Matthew is a licensed pastor. Matthew receives a housing stipend from his church, which he uses to rent his home and pay his utilities. Matthew can deduct the housing allowance from his net earnings for income tax purposes.

Learn more about housing allowance here:

https://brainly.com/question/29996381

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Doc Xpress has an in-house staff of 35 employees who provide transcriptions of phone and video conferences for a range of clients. When the economy was tight, the CEO of Doc Xpress froze all hardware and software upgrades for five years. In terms of a situation analysis, this decision was likely based on a

Answers

Answer:

external threat

Explanation:

This decision was likely based on an external threat. Which in this scenario is the economy. Economy is considered as an external threat because it is not in the control of the company itself but still directly affects the everyday business operations of the company as well as it's profit and costs. All of this equates to how well the company performs, therefore in a situation where the economy poses a threat decisions need to be made such as the one in this scenario.

Edward is a member of the Knights of Columbus, a religious group dedicated to voluntary service to the benefit of society. He also recently purchased a $100,000 life insurance policy from the organization. This was possible because the Knights of Columbus is:

Answers

Answer:

fraternal benefit society

Explanation:

The fraternal benefit society is an organization in which the people generally  share the ethics, religious views, etc. Also this society provides the insurance to their members

Since in the question it is mentioned that the Edward who is a member of Knight of Columbus i.e. a religious group dedicated a voluntary service in order to give the benefit to society

So the knights of columbus is a fraternal benefit society

Gaston owns equipment that cost $17,000 with accumulated depreciation of $6,800. Gaston asks $14,200 for the equipment but sells the equipment for $9,200. Which of the following would not be part of the journal entry to record the disposal of the equipment?

a. Debit Accumulated Depreciation $61,000.
b. Credit Equipment $90,500. Debit Loss on Disposal of Equipment $3,500.
c. Credit Gain on Disposal of Equipment $3,500.
d. Debit Cash $6,000.

Answers

Answer:

Credit Gain on Disposal of Equipment $1,000.

Explanation:

Based on the information given the entry that will NOT be part of the Journal entry to record the disposal of the equipment is Credit Gain on Disposal of Equipment $1,000 reason been that the company had a LOSS on Disposal of Equipment of the amount of $1,000($9,200+$6,800)-$17,000) which will be debited.

Dr Cash $9,200

Dr Accumulated Depreciation $6,800

Dr Loss on Disposal of Equipment $1,000

[($9,200+$6,800)-$17,000)

Cr Equipment $17,000

In _____, products are made according to customer specifications.

Answers

Mass customization (build to order)
Mass customization is the answer

Glove, Inc. manufactures baseball gloves that normally sell for $55 each. The firm currently has 400 defective gloves each of which cost the company $35 in materials, labor, and overhead. The defective gloves can be sold as is at a reduced price of $18 per glove. Alternatively, the gloves can be completely repaired at a cost of $25 per glove and sold at the regular price of $55. What would be the incremental effect on the company overall profit of repairing and selling the glove the regular price rather than selling them as defective gloves?

a. 7000 increase
b. 5600 increase
c. 2200 increase
d. 3400 decrease
e. none of the above

Answers

Answer:

e. none of the above

Explanation:

the manufacturing costs of the defective gloves should be considered a sunk cost since they cannot be recovered:

alternative 1, sell defective gloves = $18 x 400 = $7,200 gain alternative 2, repair the gloves and sell them at normal price = ($55 - $25) x 400 = $12,000 gain

alternative 2 (repairing the defective gloves and selling them at regular price) results in a $4,800 higher gain

Piedmont Hospital decides to go into the glove manufacturing business for themselves, considering their annual demand for surgical gloves is 25,000 pairs. It costs $25 to set up their production equipment and personnel, and 500 pairs can be produced each day. With their limited storage space it is estimated that it costs $0.05 to hold one pair of gloves in inventory for a year. Assuming 250 working days per year, perform a Production Order Quantity analysis. Set up the inventory problem and answer the following.a) What should their ORDER SIZE be if they wish to minimize total cost?b) For how many consecutive days will they produce surgical gloves for a given cycle?c) Comparing the results of the POQ here to the EOQ in the prior problem, which is the less expensive option for the hospital?(A) Ordering gloves (B) Producing gloves (C) They are equal in cost

Answers

Answer:

The best order size to minimize cost will be 5,000

They will produce for 10 days in a row.

Explanation:

D = annual demand 25,000

S= setup cost = ordering cost 25

H= Holding Cost  = 0.05

[tex]Q_{opt} = \sqrt{\frac{2DS}{H}}[/tex]

[tex]Q_{opt} = \sqrt{\frac{2(25,000)(25)}{0.05}}[/tex]

EOQ = 5,000

EDIT: there is insufficient information to solve the third question as the previous scenario wasn't attached.

Which company has a controlling interest in other companies in other industries?

Answers

Answer:

Parent Company

Explanation:

A project begins in January 2014; it is to be completed in October 2016. The contract price is $3,900 and the estimated total cost of the project is $3,000. Additional data for the project is provided below:

2014 2015 2016
Costs Incurred To Date $300 $2,400 $4,200
Estimated cost to Complete 2,700 1,600
Estimated Total Cost $3,000 $4,000 $4,200

Percentage of completion [PC]= (Costs incurred to date)/(Estimated total cost)

Required:
Compute the gross profit/loss recognized for each year under the PC method.

Answers

Answer:

The Gross profit/loss recognized for each year under the PC method:

                                2014        2015          2016

Gross profit(loss)     $90        $240         ($630)

Explanation:

a) Data and Calculations:

Project's contract price = $3,900

Estimated total cost of the project = $3,000

                                                2014    2015      2016

Costs Incurred To Date         $300  $2,400   $4,200

Estimated cost to Complete 2,700     1,600       0

Estimated Total Cost          $3,000  $4,000  $4,200

Percentage of completion [PC]= (Costs incurred to date)/(Estimated total cost)

                                                2014                2015                   2016

Percentage of completion: $300/$3,000   $2,400/$4,000  

Percentage of completion:    10%                  60%                  30% (100 - 70)

Revenue Allocation:                   2014           2015           2016        Total

2014   $390 (10% of $3,900)   $390                                                $390

2015 $2,340 (60% of $3,900)                    $2,340                       $2,340

2016 $1,170 (30% of $3,900)                                           $1,170      $1,170

Total Revenue                                                                                $3,900

Actual costs incurred             ($300)         ($2,100)      ($1,800)  ($4,200)

Gross profit                               $90              $240         ($630)     ($300)

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