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The book balance in the checking account of Tori’s Health Center as of April 30 is $4,690.30. The bank statement shows an ending balance of $3,275.60. By examining last month’s bank reconciliation, comparing the deposits and checks written per books and per bank in April, and noting the service charges and other debit and credit memos shown on the bank statement, the following were found: (a) An ATM withdrawal of $200.00 on April 20 by Tori for personal use was not recorded on the books. (b) A bank debit memo issued for an NSF check from a customer of $29.10. (c) A bank credit memo issued for interest of $28.00 earned during the month. (d) On April 30, a deposit of $1,592.00 was made, which is not shown on the bank statement. (e) A bank debit memo issued for $24.50 for bank service charges. (f) Checks No. 481, 493, and 494 for the amounts of $215.00, $71.00, and $24.30, respectively, were written during April but have not yet been received by the bank. (g) The reconciliation from the previous month showed outstanding checks totaling $418.25. One of these checks, No. 397 for $38.60, has not yet been received by the bank. (h) Check No. 422 written to a creditor in the amount of $217.90 was recorded in the books as $271.90. REQUIRED 1. Prepare a bank reconciliation as of April 30. 2. Prepare the required journal entries.
How much value has Masterson's management added to stockholder wealth over the years, that is, what is Masterson's MVA?
Calculate the net proceeds per share and the underwriter's spread per share on the stock offering.
Bank A has $100 million of mortgages with an adjustable rate of HIBOR + 2%. These assets are financed with $100 million of fixed-rate deposits costing 5%. Bank B has $100 million investment of fixed-income notes with a fixed rate of 7%, which are fin..
Draiman, Inc., has sales of $590,000, costs of $268,000, depreciation expense of $68,500, interest expense of $35,500, and a tax rate of 40 percent. The firm paid out $38,500 in cash dividends and has 45,000 shares of common stock outstanding. find e..
Which of the following statements is true about sales promotion?
Following are three economic states, their likelihoods, and the potential returns: Determine the standard deviation of the expected return.
Ethics - You are the CEO of a baked-goods plant located in the South Bronx. You have gotten into the doughnut business and your marketing Vice President suggests using a brand name that suggests that the doughnuts are made in the old fashioned way.
You have your choice of two investment accounts. Investment A is a 13-year annuity that features end-of-month $1,950 payments and has an interest rate of 8.4 percent compounded monthly. Investment B is a 7.9 percent continuously compounded lump sum i..
Calculate the values of call and put options on the following stock:
Alan Wingspan thinks the total real return on this investment will be only 5 percent. What does Alan believe the inflation rate will be over the next year?
Determine the optimal transfer price and how much that saves per year.
Imagine that you were just hired to be the administrator of a moderate sized hospital system.
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