Explanation:
Data given in the question
Actual cash received = $23,447
But the amount indicated on the cash register is $23,457
So, by considering the above information, the journal entry is as follows
Cash $23,447
Cash short and over $10
To Sales $23,457
(Being the cash receipts and the cash sales is recorded)
I THINK ITS MIDDLE FINGERS AT THESE AHOLE MODERATORS
Answer:
Pharaoh will reduce its cash balance by $1,130
None of the answer options was correct, maybe something was missing in the question like notes collected or other NSF checks.
Explanation:
Pharaoh Company's bank reconciliation:
balance per bank account $23,700
- outstanding checks ($4,800)
+ deposits in transit $7,750
<u>- NSF checks ($500) </u>
total $26,150
<u>- cash balance per books ($27,280)</u>
difference ($1,130)
In order to reconcile the bank account, we do not consider any bank service fees because they are already included in the bank balance. What we must consider are the NSF checks that we deposited and thought were good checks, but instead they bounced.
In order to obtain the change in price, the local price of the yuan must be known. Next is to take the difference of the reciprocal of the two prices, then multiply it to the local price.
The solution is:
change in price = 275 (1/ 6.58 - 1/6.25)
therefore, the change in price is equal to $2.21
Answer:
$0.02
Explanation:
C&A sells T-shirts for $20 that cost $5 to produce
The annual holfing cost percentage is 10%
The T-shirts turn 25 times a year
The first step is to calculate the holding cost
= $5 × 10/100
= $5 × 0.1
= 0.5
Therefore, since the T-shirts turn over 25 times a year then, the holding cost that C&A incurs for each T-shirts can be calculated as follows
= 0.5/25 times
= $0.02
Hence C&A incur a holding cost of $0.02 for each T-shirts
