On october 31, 2021, damon company’s general ledger shows a checking account balance of $8,400. the company’s cash receipts for the month total $74,340, of which $71,300 has been deposited in the bank. in addition, the company has written checks for $72,470, of which $71,000 has been processed by the bank. the bank statement reveals an ending balance of $11,800 and includes the following items not yet recorded by damon: bank service fees of $160, note receivable collected by the bank of $5,100, and interest earned on the account balance plus from the note of $370. after closer inspection, damon realizes that the bank incorrectly charged the company’s account $340 for an automatic withdrawal that should have been charged to another customer’s account. the bank agrees to the error. required: 1. prepare a bank reconciliation to calculate the correct ending balance of cash on october 31, 2021. (amounts to be deducted should be indicated with a minus sign.)

Upscale hotels in the united states recently cut their prices by 20 percent in an effort to bolster dwindling occupancy rates among business travelers. a survey performed by a major research organization indicated that businesses are wary of current economic conditions and are now resorting to electronic media, such as the internet and the telephone, to transact business. assume a company's budget permits it to spend $5,000 per month on either business travel or electronic media to transact business. graphically illustrate how a 20 percent decline in the price of business travel would impact this company's budget set if the price of business travel was initially $1,000 per trip and the price of electronic media was $500 per hour. suppose that, after the price of business travel drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel is 1. is the company allocating resources efficiently? explain.

Which of the following statements about revision is most accurate? (a) you must compose first drafts quickly (sprint writing) and return later for editing. (b) careful writers always revise as they write. (c) revision is required for only long and complex business documents. (d) some business writers prefer to compose first drafts quickly and revise later; others prefer to revise as they go.

You estimate that your cattle farm will generate $0.15 million of profits on sales of $3 million under normal economic conditions and that the degree of operating leverage is 2. (leave no cells blank - be certain to enter "0" wherever required. do not round intermediate calculations. enter your answers in millions.) a. what will profits be if sales turn out to be $1.5 million?