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2 years ago

It is a gaap standard that ___ copy(ies) of a check be attached to all documents for filing.

Business

2 answers:

Luda [366]2 years ago

7 0

Answer: one

Explanation:

11111nata11111 [884]2 years ago

4 0

GAAP stands for generally accepted accounting principles, it is the accounting standard which is adopted by the U.S. Securities and Exchange Commission, it is also known as US GAAP.

A GAAP standard is that one copy of a check be attached to all documents for filing. GAAP provides the guidelines for financial accounting.

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The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $97,456. The bank statement indicated a balance o

Alenkinab [10]

Answer:

cash account balance $97,456

note collected by bank $22,149

error in journalizing check ($1,305)

bank service charges ($40)

reconciled cash balance $118,260

bank account balance $127,960

outstanding checks ($30,050)

deposit in transit $19,720

error in processing check $630

reconciled bank balance $118,260

Dr Cash 22,149

Cr Notes receivable 20,700

Cr Interest revenue 1,449

Dr Accounts payable 1,305

Cr Cash 1,305

Dr Bank fees expense 40

Cr Cash 40

c. cash balance $118,260

3 0

2 years ago

An insurance firm agrees to pay you $3,310 at the end of 20 years if you pay premiums of $100 per year at the end of each year f

azamat

Answer:

6.43%

Explanation:

The internal rate of return shall be determined by the Insurance firm using the following mentioned method:

Cash flows Year involved Present [email protected]% Present [email protected]%

($100) 1-20 ($851) ($1,487.75)

$3,310 20 $492 $1,832.67

($359) $344.92

IRR=A%+ (a/a-b)*(B%-A%)

A%=10% a= ($359) B%=3% b=$344.92

IRR=10%+(-$359/-$359-$344.92)*(3%-10%)

=6.43%

3 0

2 years ago

What will happen if a shoe firm sells its shoes at a price lower than the opportunity cost of the inputs used in the production

Maslowich

Had to look for the options and here is my answer. What happens when a shoe firm puts its shoes on sale at a price that is lower than the opportunity cost of the inputs used in the process of production is that the firm will possibly make losses between the accounting and economic aspects.

5 0

2 years ago

The interest portion of a monthly loan payment is $427.93. If the interest rate is 6.875%, what is the current principal balance

Lena [83]

The current principal balance is $74, 693.24

Hope it helps :)

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1 year ago

Suppose a gold miner finds a gold nugget and sells the nugget to a mining company for $500. The mining company melts down the go

SSSSS [86.1K]

Answer:

The GDP will increase by $2,000 as a result of these transactions

Explanation:

When trying to calculate the increase in GDP caused by a series of transactions, we do not add all the transactions, instead we look at the price of the final good and that is the increase in GDP. In this case the final good is the necklace that the store department sells for $2,000 therefore we will only consider the final transaction. So the GDP will increase by $2,000 as a result of this series of transactions because the final good sold for $2,000.

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2 years ago