Spielberg company's general ledger shows a checking account balance of $22,970 on july 31, 2018. the july cash receipts of $1,885, included in the general ledger balance, are placed in the night depository at the bank on july 31 and processed by the bank on august 1. the bank statement dated july 31 shows bank service fees of $55. the bank processes all checks written by the company by july 31 and lists them on the bank statement, except for one check totaling $1,460. the bank statement shows a balance of $22,490 on july 31.

1. prepeare a bank reconciliation to calculate the correct ending balance of cash on july 31, 2018.
2. record the necessary entry(ies) to adjust the balance for cash.

The treasurer for pittsburgh iron works wishes to use financial futures to hedge her interest rate exposure. she will sell five treasury futures contracts at $139,000 per contract. it is july and the contracts must be closed out in december of this year. long-term interest rates are currently 7.30 percent. if they increase to 9.50 percent, assume the value of the contracts will go down by 20 percent. also if interest rates do increase by 2.2 percent, assume the firm will have additional interest expense on its business loans and other commitments of $149,000. this expense, of course, will be separate from the futures contracts. a. what will be the profit or loss on the futures contract if interest rates increase to 9.50 percent by december when the contract is closed out

Emily spent her summer vacation in buenos aires, argentina, where she got plastic surgery for a fraction of what it would cost in the united states. this is an example of:

University hero is considering expanding operations beyond its healthy sandwiches. jim axelrod, vice president of marketing, would like to add a line of smoothies with a similar health emphasis. each smoothie would include two free health supplements such as vitamins, antioxidants, and protein. jim believes smoothie sales should fill the slow mid-afternoon period. adding the line of smoothies would require purchasing additional freezer space, machinery, and equipment. jim provides the following projections of net sales, net income, and average total assets in support of his proposal. sandwichesonly sandwiches and smoothies net sales $ 750,000 $ 1,350,000 net income 120,000 210,000 average total assets 350,000 750,000 return on assetschoose numerator ÷ choose denominator = return on assets÷ = return on assets÷ = profit margin÷ = profit margin÷ = asset turnover÷ = asset turnover÷ = times