Answer:
The correct option here is B) $9,961.
Explanation:
For taking out the adjusted cash balance at June 30 we will subtract the error in ledger amount and debit memo for monthly service charge and add the interest earned from the initial cash balance before any adjustment is made.
INITIAL CASH BALANCE = $10,012
(-) ERROR IN LEDGER = $95 -$59
= $36 ( this is the amount that Almond co's have to
pay more )
(+) INTEREST EARNED = $35
(-) SERVICE CHARGES = $50
ADJUSTED CASH BALANCE = $9961
The 5 Partnership Firms:
(Chronological order)
1) "Contract for Partnership"
2) "Maximum number of Partnership is 20"
3) "Carrying on business with Partnership"
4) "Sharing on profit with Partnership"
5) "Mutual Agency in a Partnership"
These are the five profiles of Partnership in any corporate agency
Answer: $20,000
Explanation:
Net Income is the amount from revenue that the company made over expenses. It is therefore;
= Revenue - Expenses
= 110,000 - 90,000
= $20,000
<em>Note: Dividends are not considered in the calculation of Net Income as they are not expenses. </em>
A would be the correct answer