Business, 01.01.2020 07:31, jass624

The price co.'s books showed a cash balance of 3,420.00 at the end of september. a comparison of the september 30 bank statement to the company's check register revealed the following

Answers: 2

Show answers

Answers

If these are the missing details:
checks in the amount of $516.88 were still outstanding,
a deposit for $453.13 had not been credited,
monthly service charges were $16.00,
and a check in the amount of $104.65 had been returned NSF.
What was the reconciled cash balance of Price Co.?

Ending book balance: $ 3,420.00
Add back: O/S check: 516.88 This has not yet been encashed or deposited by bearer
Deduct: deposit (453.13) This has not yet been credited in the bank
Deduct: monthly svc (16.00) Deducted by the bank not in the books
Deduct: check deposit (104.65) NSF recorded by the bank. This is still collectible from maker
Reconciled cash bal. 3,363.10

NSF stands for no sufficient funds. If the company receives the check and deposits it to their account, it will be recorded as collected and earned. So the cash balance will be increased by 104.65. However, because the check is NSF, it means that the check is not good and the receivable has not been paid. Thus, the company has to deduct the amount from their books and collect from the customer the amount they deduct.

answered: Guest

The answer is letter a

answered: Guest

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

Other questions on the subject: Business

Business, 21.06.2019 20:30, cajunldy2001

Elizabeth believes her company has discriminated against her because her minority coworkers, who are less qualified, have been promoted ahead of her. which agency should elizabeth contact? - national alliance of business- affirmative action council- equal employment opportunity commission- federal trade commission- fair employment practices agency

Answers: 2

continue

Business, 22.06.2019 08:30, isaicruz2018

Which actions can you improve your credit score? (multiple can be selected)having a good credit score should be your prime objective as credit companies analyze your creditworthiness before giving you a loan. there are certain guidelines you can follow to ensure you have a good credit score. always pay your mortgage interest on time. if you are a student, make student loan inquiries before taking any loan. if you have multiple credit cards, manage them judiciously. maintain a healthy balance in your bank account.1. always pay your mortgage interest on time.2. if you are a student, make student loan inquiries before taking any loan.3. if you have multiple credit cards, manage them judiciously.4. maintain a healthy balance in your bank account.

Answers: 1

continue

Business, 22.06.2019 15:20, rasv3491

Garfield corporation is considering building a new plant in canada. it predicts sales at the new plant to be 50,000 units at $5.00/unit. below is a listing of estimated expenses. category total annual expenses % of annual expense that are fixed materials $50,000 10% labor $90,000 20% overhead $40,000 30% marketing/admin $20,000 50% a canadian firm was contracted to sell the product and will receive a commission of 10% of the sales price. no u. s. home office expenses will be allocated to the new facility. the contribution margin ratio for garfield corporation is

Answers: 2

continue

Business, 22.06.2019 18:00, extraemy

Companies under market structures are independent

Answers: 2

continue

Do you know the correct answer?

The price co.'s books showed a cash balance of 3,420.00 at the end of september. a comparison of the...