a. The August 31 balance shown on the bank statement is $9,799.
b. There is a deposit in transit of $1,247 at August 31.
c. Outstanding checks at August 31 totaled $1,870.
d. Interest credited to the account during August but not recorded on the company's books amounted to $115.
e. A bank charge of $37 for checks was made to the account during August. Although the company was expecting a charge, the amount was not known until the bank statement arrived.
f. In the process of reviewing the canceled checks, it was determined that a check issued to a supplier in payment of accounts payable of $625 had been recorded as a disbursement of $367.
g. The August 31 balance in the general ledger Cash account, before reconciliation, is $9,356.

Required:
Prepare the adjusting journal entry that should be prepared to reflect the reconciling items.

Answer:

critical thinking

judgment and decision making

reading comprehension

operation and control

critical thinking, judgment and decision making, reading comprehension and operation and control are some common skills needed by Personal Financial Advisors. Hence, options A, B, D and E are correct.

Personal financial advisors assess the needs of their clients' finances and offer advice on choices for investments, tax laws, and insurance. Advisors help their clients create both short- and long-term goals, including investing for retirement and saving for children's education.

An expert who provides expertise for customers' financial, investment, and personal decision-making is a financial advisor. Financial advisors may be employed or hired as independent contractors by a larger financial institution.

Both "advisor" and "adviser" are valid spellings for someone who gives counsel, such a financial advisor. The vast majority—if not all—of the things we provide here are provided by partners who give us money. This might have an impact on the subjects, venues, and methods of our writing.

Thus, options A, B, D and E are correct.

For more information about Personal Financial Advisors, click here:

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Answer:

Future values:

a. $755.83

b. $759.19

c. $760.95

d. $762.14

e. $762.75

Explanation:

a) Data and Calculations:

Present value = $600

Conditions:

1. 8% compounded annually for 3 years:

N (# of periods) = 3

I/Y (Interest per year) = 8

PV (Present Value)  = $600

PMT (Periodic Payment) = $ 0

FV = $755.83

Total Interest = $155.83

2. 8% compounded semiannually for 3 years.

N (# of periods) = 6

I/Y (Interest per year) = 4

PV (Present Value)  = $600

PMT (Periodic Payment) = $ 0

FV = $759.19

Total Interest $159.19

3. 8% compounded quarterly for 3 years.

N (# of periods) = 12

I/Y (Interest per year) = 2

PV (Present Value)  = $600

PMT (Periodic Payment) = $ 0

FV = $760.95

Total Interest $160.95

4. 8% compounded monthly for 3 years.

N (# of periods) = 36

I/Y (Interest per year) = 0.66667%

PV (Present Value)  = $600

PMT (Periodic Payment) = $0

FV = $762.14

Total Interest = $162.14

5. 8% compounded daily for 3 years. Assume 365-days in a year.

N (# of periods) = 1,095

I/Y (Interest per year) = 0.02192%

PV (Present Value)  = $600

PMT (Periodic Payment) = $0

FV = $762.75

Total Interest $162.75

Answer:

Whole units 14,320

Direct materials equivalent units 13,680

Conversion costs equivalent units 13,332

Explanation:

Calculation to Determine the number of equivalent units of production with respect to direct materials and conversion costs.

Hopkinsville Company Number of Equivalent Units of Production

WHOLE UNITS

Inventory in process, beginning 640

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 13,600

(640+12,960)

Inventory in Process ending 720

Total 14,320

(13,600+720)

DIRECT MATERIALS EQUIVALENT UNITS

Inventory in process, beginning 0

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 12,960

Inventory in Process ending 720

Total 13,680

(12,960+720)

CONVERSION EQUIVALENT UNITS

Inventory in process, beginning 192

[640-(640*70%)]

Started and completed 12,960

(13,600-640)

Transferred to Packing Department 13,152

(192+12,960)

Inventory in Process ending 180

(720*25%)

Total 13,332

(13,152+180)

Answer:

Explained below

Explanation:

1) From the question, we can deduce that in the short run, there will likely be news of the discovery/invention of a super vaccine which will make the consumers and the businesses to be optimistic about the future of the economy. Therefore, this will in turn lead to an increase in consumption by consumers and thus also lead to an producers making an increase in investment.

2) From answer 1 above, since there is an increase in consumption as well as investment, this will in turn also lead to an increase in the aggregate demand of the economy. Whereas, we are told that the oil market is calm and therefore we can say it does not have an effect on the supply curve.

From the first image attached, increase in the aggregate demand led to an increase in price level from point P to P1 on the y-axis while output output level increased from point Y to point Y1 on the x-axis.

3) In the long run, due to the increase in demand in the short run that makes the supply curve shift to its right, it means the producers will have more of the goods produced. This will in turn reduce the price to its initial level and also increase the output level. From the second diagram, this will lead to a shift long run aggregate supply from LRAS to LRAS1 on the x-axis.

Answer:

5%

Explanation:

Internal rate of return is the discount rate that equates the after-tax cash flows from an investment to the amount invested

IRR can be calculated with a financial calculator  

The interest rate implicit in the agreement can be determined by finding the internal rate of return.

Cash flow in year 0 =  $-196,401

Cash flow each year from year 1 to 7 = $33,942

IRR = 5%

To find the IRR using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. After inputting all the cash flows, press the IRR button and then press the compute button.  

Answer:

Abby and Jason

The monthly mortgage payment that Abby and Jason will make is:

= $766.58.

Explanation:

a) Data and Calculations:

Construction loan = $100,000

Period of construction = 14 months

Simple interest rate = 0.5% per month

Principal amount after 14 months = $ 107,000 ($100,000 * 0.5% * 14)

Mortgage loan = $107,000

Mortgage period = 20 years

Interest rate = 6% compounded monthly

Terms of payment = monthly

From an online financial calculator, the monthly payment for the mortgage will be:

Monthly Pay = $766.58

                                         Monthly    Total

Mortgage Payment         $766.58   $183,979.50  

Total of 240 Mortgage Payments = $183,979.50

Total Interest = $76,979.50

Mortgage Payoff Date Mar. 2041 if the mortgage commenced on March 1, 2021.

Answer:

See below

Explanation:

1. Correct amount of cost of goods sold 2022

= beginning inventory + cost of goods purchased - correct ending inventory

= $31,000 + $203,500 - ($35,000 - $6,550)

= $234,500 - $28,450

= $206,050

2.Correct amount of cost of goods sold 2021

= $21,500 + $153,000 - ($31,000 - $3,600)

= $139,900

Answer:

Hedge fund are financial partnerships that use pooled funds and employ different strategies to earn active returns for thier investors.. Hedge fund include long-short equity, market neutral, volatility arbitrage and merger arbitrage. They are generally only accessible to accredited investors

Answer:

Established Name Brand - S - Brings in more customers

Low Prices(Low Cost Leadership ) - S - Retaining customers

Unfair Employment Practices - T - Negatively affects the brand image

Pressures Suppliers on Cost - S - Have bargaining power on suppliers

Recession - T - Can bring down customer spending

Other big box retailers(Target) - T - Competition

Small Towns - O - Not many players

International Markets - O  - Growth prospects

Products Made in China - O - Lower prices

Product Safety - S - Retaining customers

Large Purchases (Buy in Bulk) - S - Cost savings

Internet Retailing - O - New growth opportunity

Customer Base - S - Large customer base

No Urban Locations - O - Opportunity to expand

Health Care for Employees - S - Employee satisfaction

Global Presence - S - Large customer base

Price Competition - O - Best in industry

Product Quality  - Retaining customers

Customer service- S - Retaining customers

Distribution/Logistics System - S - Lower costs

One Stop Shop  - S - Retaining customers

In 15 Countries—not in Europe except for United Kingdom  - Opportunity to grow in Europe

Sam’s Club - O - Customer loyalty

Minimum Wage Laws - T - Higher costs

Rising Labor Costs in China - T - Higher costs

Healthcare Costs - T - Higher costs

12% Lower Grocery Prices - S - Cost leadership

Litigation by employees - T - Negatively affects the brand image

Target Superior Merchandising Capability - O - Competition

Community Resistance - T - Negatively affects the brand image

Home Delivery of Goods - O - Growth prospects

Growth of Aldi Food Chain-Europe/North America - T - Competition

Poor Working Conditions - T - Negatively affects the brand image

Dollar stores - T - Competition

Online Retailers  - T - Competition

Answer:

12.09%.

Explanation:

Calculation to determine the rate of return on the fund

First step is to calculate the beginning year NAV

Beginning year NAV = ($400 million assets - 50 million debt) / 15 million shares

Beginning year NAV = 23.33

Second step is to calculate the ending year NAV

Ending year NAV = ($500 million assets - (500*0.75% expense) - 40 million debt] / 18 million shares

Ending year NAV =[456.25/18 million shares]

Ending year NAV =25.35

Now let calculate the return using this formula

Return = (Ending NAV -beginning NAV + Capital gain + income) / Beginning NAV)

Let plug in the formula

Return = (25.35-23.33+0.30+0.50)/23.33

Return = 12.09%

Therefore the rate of return on the fund is 12.09%

Answer:

It is more than enough money

Explanation:

Answer:

oki

Explanation:

Answer:

BCD is wrong on Edge 2021.| The real Answer is BDE... (Edit)

Explanation:

Using resources from comments on the anwser above (or below) and the bad rating meant that is was wrong. And was also wrong for me.

The REAL ANWSER IS BDE..

Your welcome, have a nice day!

5/28/2021

Question Completion:

Given the above scenario, which management theory is dominantly in operation?

Theory X

Theory Y

Answer:

The dominant management theory in this case is:

Theory Y.

Explanation:

Theory X: This theory presents a process-driven work situation, whereby workers follow rules that they did not contribute in making.  There is a lack of individual initiative and motivation because the assumption is that the workers dislike their work and must be coerced, directed, and controlled in order to achieve organizational goals.

Theory Y: With this theory, workers are treated as the most valuable assets of the company.  Employees are self-motivated and generally, there is a high sense of value placed on human esteem and self-actualization by the workers and managers.  The workers do not dislike their work, and they work to achieve goal congruence between organizational and individual goals.

Answer:

☁︎Satoshi Nakamoto's☁︎

Explanation:

Two months later, a paper entitled 'Bitcoin: A Peer-to-Peer Electronic Cash System' was passed around a cryptography mailing list. The paper is the first instance of the mysterious figure, Satoshi Nakamoto's appearance on the web, and permanently links the name "Satoshi Nakamoto" to the cryptocurrency.

Answer:

Explanation:

The missing table is attached below.

Recall that:

The capacity of the interaction is controlled by the capacity of the bottleneck workers.

The extra resources accessible ought to be added to workers with the most noteworthy preparing times.  

For this situation, they are Worker A and Worker E.  

Summing up of resources halves the handling times for Worker A and E.

SO;

Worker    Old time(sec)    New time (sec)   Capacity  

A                65                       32.5                     1.85

B                 35                       35                        1.71

C                 25                       25                        2.40

D                 30                       30                        2.00

E                  60                       30                       2.00

Along these lines, the new capacity of the framework is characterized by new bottleneck B.  

So the capacity of the cycle is 60/35 = 1.71 toothbrush per each minute

Answer:

frictional

structural changes.

Cyclical

frictional

Explanation:

Structural unemployment is an unemployment that occurs as a result of changes in the economy. These changes can be as a result of changes in technology, polices or competition . Structural unemployment tends to be permanent.  

Frictional unemployment is the period of time a person is unemployed from the time he leaves his current job and the time he gets another job.  

Cyclical unemployment occurs as a result of fluctuations in the economy. In a downturn unemployment is high and in a boom, unemployment is low.

Answer:

see below

Explanation:

Given that cost incurred = $457,200

Overhead

= $457,200 - $433,200

Answer:

Net Income = $33,820

Assets = Liabilities + Stockholders' Equity = $108,620

Explanation:

Note: This question is not complete as the introductory paragraph and the numbering are omitted. The complete question is therefore provided before answering the question as follows:

The Pet Store experienced the following events for the Year 1 accounting period:

1. Acquired $70,000 cash from the issue of common stock.

2. Purchased $61,000 of inventory on account.

3. Received goods purchased in Event 2 FOB shipping point; freight cost of $1,870 paid in cash.

4. Sold inventory on account that cost $51,000 for $97,000.

5. Freight cost on the goods sold in Event 4 was $1,020. The goods were shipped FOB destination. Cash was paid for the freight cost.

6. Customer in Event 4 returned $4,540 worth of goods that had a cost of $2,320.

7. Collected $79,540 cash from accounts receivable.

8. Paid $56,200 cash on accounts payable.

9. Paid $3,020 for advertising expense.

10. Paid $4,050 cash for insurance expense.

Required:

a. Which of these events affect period (selling and administrative) costs? Which result in product costs? If neither, label the transaction NA.

b. Record each event in a horizontal statements model. The first event is recorded as an example. (In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash, and NA to indicate the element is not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign.)

The explanation of the answer is now given as follows:

a. Which of these events affect period (selling and administrative) costs? Which result in product costs? If neither, label the transaction NA.

Period costs are costs that include selling and asministrative costs which are not related to cost of producing a product.

Product costs can be described as costs of creating or producing a product that is meant for sale to customers.

Therefore, we have:

Event         Cost  

  1 .              NA

  2.              Product costs

  3.              Product costs

  4.              NA

  5.              NA

  6.              NA

  7.              NA

  8.              NA

  9.              Period costs

 10.              Period costs

b. Record each event in a horizontal statements model. The first event is recorded as an example. (In the Cash Flow column, use OA to designate operating activity, IA for investment activity, FA for financing activity, NC for net change in cash, and NA to indicate the element is not affected by the event. Enter any decreases to account balances and cash outflows with a minus sign.)

Note: See the attache excel file for the horizontal statements.

In the attached excel file, Retained Earnings is equal to the balance of the Net Income which is equal to $33,820.

Under the horizontal statements in the attached excel, an evidence to show that Assets is equal to Liabilities Plus Stockholders' Equity. That is:

Assets = Liabilities + Stockholders' Equity = $108,620

Answer:

Increase by $2,000.

Explanation:

Calculation to determine what the profit will be if B is processed further,

First step is to calculate the Inremental Revenue

Inremental Revenue,=

$35,000 - $30,000

Inremental Revenue = $5,000

Now let calculate B profit if processed further

Using this formula

B profit if processed further=Inremental Revenue- Incremental Cost

Let plug in the formula

B profit if processed further=$5,000-$3,000

B profit if processed further= $2,000 Increase

Therefore If B is processed further, profits will Increase by $2,000.

Answer:

Results are below.

Explanation:

Giving the following information:

Total manufacturing costs, $8,450,000

Manufacturing overhead allocated, $3,750,000 (allocated at a rate of 250% of direct manufacturing labor costs)

Work-in-process inventory on January 1, 2017, $390,000

Cost of finished goods manufactured, $8,020,000

First, we need to calculate the direct material and direct labor:

Direct labor= Manufacturing overhead allocated/2.5

Direct labor=  3,375,000 / 2.5

Direct labor= $1,350,000

Total manufacturing costs= Direct material + direct labor + allocated overhead

8,450,000= Direct material + 1,350,000 + 3,375,000

Direct material= $3,725,000

Finally, the ending work-in-process:

cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP

8,020,000= 390,000 + 8,450,000 - Ending WIP

Ending WIP= $820,000

Answer:

Dr D. Hopkins, Capital 210,000

Cr P. Houghton, Capital 10,000

Cr M. Hammel, Capital 10,000

Cr Cash 230,000

Explanation:

Preparation of the December 31 journal entry for the partnership.

Based on the information given the December 31 journal entry for the partnership will be :

Dr D. Hopkins, Capital 210,000

Cr P. Houghton, Capital 10,000

(100,000-80,000/2)

Cr M. Hammel, Capital 10,000

(100,000-80,000/2)

Cr Cash 230,000

Answer:

Active traders often group themselves into two camps: the day traders and the swing traders. Both seek to profit from short-term stock movements (versus long-term investments), but which trading strategy is the better one? Here are the pros and cons of day trading versus swing trading.

Answer:

If the new reforms bring increase confidence of the investors then the company will have to incur lower borrowing costs as the investor will be available and vice versa.

Explanation:

Suppose that previously our company's credit rating was overrated. Due to recent regulatory reforms, my company achieved a lower credit rating and hence the investor confidence in our company dropped significantly. Now the investor is not interested to invest in my company and to urge them to invest in the company, they will be offered higher interest. If the reforms are going to impact our credit rating adversely then the borrowing cost will increase and vice versa.

Furthermore, Core Principle 3 says that the decsion making of the investor is based on the information that is readily available to him. This means if the reforms increase the access of the borrower through improved credit rating then it will be favourable for the company in terms of lower borrowing costs. If the reforms decrease the access of the borrower through depreciating credit rating then it will adversely affect the company in terms of lower borrowing costs and lower investment access.

Answer:

See below

Explanation:

1a. Material price and quantity variances

Material price variance = (Actual price - Standard price) × Actual quantity purchased

= ($4.95 - $5) × 60,000

= -$0.05 × 60,000

= $3,000 unfavorable

Materials quantity variance = (Actual quantity used - Standard quantity allowed) × Standard price

= (49,200 - 15,000 × 3.0) × $5

= (49,200 - 45,000) × $5

= (4,200) × $5

= $21,000 favorable

b. Labor rate and efficiency variances

Labor rate variance = (Actual rate - Standard rate) × Actual hours

= ($17 - $16) × 11,800

= $11,800 favorable

Labor efficiency variance = (Actual hours - Standard hours allowed) × Standard rate

= (11,800 - 15,000 × 0.8) × $16

= (11,800 - 12,000) × $16

= $3,200 Favorable

C. Variable overhead rate and efficiency variances

Variable overhead rate variance = (Actual rate - Standard rate) × Actual machine hours

= $18,290 - ($3 × 5,900)

= $18,290 - $17,700

= $590 unfavorable

Variable overhead efficiency variance =(Actual hours - Standard hours allowed) × Standard rate

= (5,900 - 15,000 × 0.4) × $3

= (5,900 - 6,000) × $3

= $300 favorable

2. Variances amounts

Material price variance

$3,000 U

Material quantity variance

$21,000 F

Labor rate variance

$11,800 F

Labor efficiency variance

$3,200 F

Variable overhead variance

$590 U

Variable overhead efficiency variance

$300 F

Net variance

$32,710 F

The net variance of all the variances for the month is $32,710 F

1. The variances of the Miller Toy Company are as follows:

Material price variance:

= (Actual purchases x Actual price) - (Actual purchases x Standard price)

= (60,000 x 4.95) - (60,000 x 5)

= $3,000 Favorable

Material quantity variance:

= (Actual quantity that was used - Standard quantity) x Standard price

= (49,200 - 45,000) x 5

= $21,000 Unfavorable

Labor rate variance:

= (Actual hours worked x Actual labor cost) - (Actual hours worked x Standard labor cost)

= (11,800 x 17) - (11,800 x 16)

= $11,800 Unfavorable

Labor efficiency variance:

= (Actual hours worked - Standard hours worked) x Standard labor cost

= (11,800 - 12,000) x 16

= $3,200 Favorable

Variable overhead rate variance :

= (Actual overhead rate - Standard) x Actual machine hours

= (3.10 - 3.00) x 5,900

= $590 Unfavorable

Variable Overhead efficiency variance

= (Actual machine hours - Standard machine hours) x Standard variable overhead rate

= (5,900 - 6,000) x 3

= $300 Favorable

2. Overall net variance:

= Material price variance + Material quantity + Labor rate + Labor efficiency + Variable overhead rate + Variable overhead efficiency

= 3,000 - 21,000 - 11,800 + 3,200 - 590 + 300

= 26,890 Unfavorable

Find out more at https://brainly.com/question/16749203.

Answer:

Yes, reason been that operating profits increase

Explanation:

Calculation to determine whether

Incremental analysis you would recommend the 75-cent price

Current Projected

Incremental revenue $702,000 $692,250

(78,000 units*$9.00=$702,000)

(71,000*$9.75=$692,250)

Incremental cost -$537,200 -$482,800

(78,000 units*$6.80=$537,200)

(71,000*$6.80=$482,800)

Incremental Profit (loss) $164,800 $209,450

($702,000-537,200)

($692,250-$482,800)

Profit increase by($209,450 -$164,800)

Profit increase by= $44,650

Based on the above calculation I would recommend the 75-cent price increase reason been that operating profits increase.

Answer:

Jul 1, 2017

Dr Notes receivable $71,000

Cr Cash $71,000

Dec 31, 2017

Dr Interest receivable $3,197

Cr Interest revenue $3,197

Jul 1, 2018

Dr Cash $6,390

Cr Interest receivable $3,197

Cr Interest revenue $3,197

Jul 1, 2018

Dr Cash $71,000

Cr Notes receivable $71,000

Explanation:

Preparation of the journal entries that Smart Solutions Inc. would record

Jul 1, 2017

Dr Notes receivable $71,000

Cr Cash $71,000

(Being To record given loan to employee and receipt a note)

Dec 31, 2017

Dr Interest receivable $3,197

(71000*9%*6/12)

Cr Interest revenue $3,197

(Being To record interest accrued)

Jul 1, 2018

Dr Cash $6,390

(3197+3197)

Cr Interest receivable $3,197

Cr Interest revenue $3,197

(71000*9%*6/12)

(Being To record receipt of the interest on maturity date)

Jul 1, 2018

Dr Cash $71,000

Cr Notes receivable $71,000

(Being To record receipt of the full principal)

Answer:

A. The market yield rate fluctuated between the time the bond agreement was written and the date the bonds were actually issued to investors

Explanation:

Interest rate changes and changes in the market price of outstanding bonds have an inverse relationship. If the market rate of interest is more than coupon rate than the bonds are sold at discount to match the market interest rate and if the coupon rate is more than market rate than bonds are sold at premium for match the market rate of interest.

Coupon rates one decided than there is no change in the life time of the bonds but market rate are always changing and because of this the bonds are sell at discount or premium.

Answer: $60,650

Explanation:

Operating cashflows by indirect method:

Net Income                                                                                   $3,500

Add:  

Depreciation                                                         $46,000

Decrease in Accounts Receivable                      $12,000

Increase in Accounts Payable                             $ 9,700            $67,700

Less:

Increase in inventory                                          ($9,900)

Decrease in Tax payable                                    ($650)               ($10,550)

Total                                                                                               $60,650

Decrease in accounts receivable = 42,000 - 30,000 = $12,000

Increase in Acc. Payable = 40,400 - 30,700 = $9,700

Increase in inventory = 65,000 - 55,100 = $9,900

Decrease in Tax payable = 3,200 - 2,550 = $650            

Answer:

Radio, telephone, and computer-aided dispatch systems etc.

Explanation:

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