The balance shown in the august bank statement of colt company was $22,400. after examining the august bank statement and items included with it, the company's accountant found:
checks outstanding $4,500
nsf check 140
note collected by bank for the colt company 1,500
deposits outstanding 2,300
bank service fees 60
what is the amount of cash that should be reported in the balance sheet as of august 31?
a.$20,200
b.$16,700
c.$23,400
d.$15,700

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?