Question 1
Complete and submit to your instructor Case 14.1: Alternative investment options 9 (pages 613-614) and Case 15.2: Hedging with Stock-index futures (pages 647-648). Instructions are as follows: The final cases should demonstrate understanding of the reading as well as the implications of new knowledge. The 15 to 20 page paper covering both cases should integrate readings and class discussions into work and life experiences. It may include explanation and examples from previous experiences as well as implications for future applications. The purpose of the Final Cases is for you to culminate the learning achieved in the course by describing your understanding and application of knowledge in the field of financial investment management. Use formulas to calculate the answers to mathematical sections and round to the nearest whole number. Clearly label the analysis. Case Problem 14.1 The Franciscos? Investment Options Hector Francisco is a successful businessman in Atlanta. The box-manufacturing firm he and his wife, Judy, founded several years ago has prospered. Because he is self-employed, Hector is building his own retirement fund. So far, he has accumulated a substantial sum in his investment account, mostly by following an aggressive investment posture. He does this because, as he puts it, ?In this business, you never know when the bottom?s gonna fall out.? Hector has been following the stock of Rembrandt Paper Products (RPP), and after conducting extensive analysis, he feels the stock is about ready to move. Specifically, he believes that within the next 6 months, RPP could go to about $80 per share, from its current level of $57.50. The stock pays annual dividends of $2.40 per share. Hector figures he would receive two quarterly dividend payments over his 6-month investment horizon. In studying RPP, Hector has learned that the company has 6-month call options (with $50 and $60 strike prices) listed on the CBOE. The CBOE calls are quoted at $8 for the options with $50 strike prices and at $5 for the $60 options. Questions a. How many alternative investment vehicles does Hector have if he wants to invest in RPP for no more than 6 months? What if he has a 2-year investment horizon? b. Using a 6-month holding period and assuming the stock does indeed rise to $80 over this time frame: 1. Find the value of both calls, given that at the end of the holding period neither contains any investment premium. 2. Determine the holding period return for each of the 3 investment alternatives open to Hector Francisco. c. Which course of action would you recommend if Hector simply wants to maximize profit? Would your answer change if other factors (e.g., comparative risk exposure) were considered along with return? Explain. Case Problem 15.2 Jim and Polly Pernelli Try Hedging with Stock-Index Futures Jim Pernelli and his wife, Polly, live in Augusta, Georgia. Like many young couples, the Pernellis are a 2-income family. Jim and Polly are both college graduates and hold high-paying jobs. Jim has been an avid investor in the stock market for a number of years and over time has built up a portfolio that is currently worth nearly $375,000. The Pernellis? portfolio is well diversified, although it is heavily weighted in high-quality, mid-cap growth stocks. The Pernellis reinvest all dividends and regularly add investment capital to their portfolio. Up to now, they have avoided short selling and do only a modest amount of margin trading. Their portfolio has undergone a substantial amount of capital appreciation in the last 18 months or so, and Jim is eager to protect the profit they have earned. And that?s the problem: Jim feels the market has pretty much run its course and is about to enter a period of decline. He has studied the market and economic news very carefully and does not believe the retreat will cover an especially long period of time. He feels fairly certain, however, that most, if not all, of the stocks in his portfolio will be adversely affected by these market conditions?though some will drop more in price than others. Jim has been following stock-index futures for some time and believes he knows the ins and outs of these securities pretty well. After careful deliberation, Jim and Polly decide to use stock-index futures?in particular, the S&P MidCap 400 futures contract?as a way to protect (hedge) their portfolio of common stocks. Questions a. Explain why the Pernellis would want to use stock-index futures to hedge their stock portfolio, and how they would go about setting up such a hedge. Be specific. 1. What alternatives do Jim and Polly have to protect the capital value of their portfolio? 2. What are the benefits and risks of using stock-index futures as hedging vehicles? b. Assume that S&P MidCap 400 futures contracts are currently being quoted at 769.40. How many contracts would the Pernellis have to buy (or sell) to set up the hedge? 1. Say the value of the Pernelli portfolio dropped 12% over the course of the market retreat. To what price must the stock-index futures contract move in order to cover that loss? 2. Given that a $16,875 margin deposit is required to buy or sell a single S&P 400 futures contract, what would be the Pernellis? return on invested capital if the price of the futures contract changed by the amount computed in part b1, above? c. Assume that the value of the Pernelli portfolio declined by $52,000, while the price of an S&P 400 futures contract moved from 769.40 to 691.40. (Assume that Jim and Polly short sold one futures contract to set up the hedge.) 1. Add the profit from the hedge transaction to the new (depreciated) value of the stock portfolio. How does this amount compare to the $375,000 portfolio that existed just before the market started its retreat? 2. Why did the stock-index futures hedge fail to give complete protection to the Pernelli portfolio? Is it possible to obtain perfect (dollar-for-dollar) protection from these types of hedges? Explain. d. What if, instead of hedging with futures contracts, the Pernellis decide to set up the hedge by using futures options? Fortunately, such options are available on the S&P MidCap 400 Index. These futures options, like their underlying futures contracts, are also valued/priced at $500 times the underlying S&P 400 Index. Now, suppose a put on the S&P MidCap 400 futures contract (with a strike price of 769) is currently quoted at 5.80, and a comparable call is quoted at 2.35. Use the same portfolio and futures price conditions as set out in part c to determine how well the portfolio would be protected if these futures options were used as the hedge vehicle. (Hint: Add the net profit from the hedge to the new depreciated value of the stock portfolio.) What are the advantages and disadvantages of using futures options, rather than the stock-index futures contract itself, to hedge a stock portfolio? Must be 15- to 20- double-spaced pages in length and formatted according to APA style as outlined in the approved APA style guide. Must include a cover page that includes: Student?s name Course name and number Title of paper Instructor?s name Date submitted Must include an introductory paragraph with a succinct thesis statement. Must address the topic of the paper with critical thought. Must conclude with a restatement of the thesis and a conclusion paragraph. Must use at least five professional resources, including a minimum of two from ProQuest. Must use APA style as outlined in the approved APA style guide to document all sources. Must include, on the final page, a Reference Page that is completed according to APA style as outlined in the approved APA style guide.,Complete and submit to your instructor Case 14.1: Alternative investment options 9 (pages 613-614) and Case 15.2: Hedging with Stock-index futures (pages 647-648). Instructions are as follows: The final cases should demonstrate understanding of the reading as well as the implications of new knowledge. The 15 to 20 page paper covering both cases should integrate readings and class discussions into work and life experiences. It may include explanation and examples from previous experiences as well as implications for future applications. The purpose of the Final Cases is for you to culminate the learning achieved in the course by describing your understanding and application of knowledge in the field of financial investment management. Use formulas to calculate the answers to mathematical sections and round to the nearest whole number. Clearly label the analysis. Case Problem 14.1 The Franciscos? Investment Options Hector Francisco is a successful businessman in Atlanta. The box-manufacturing firm he and his wife, Judy, founded several years ago has prospered. Because he is self-employed, Hector is building his own retirement fund. So far, he has accumulated a substantial sum in his investment account, mostly by following an aggressive investment posture. He does this because, as he puts it, ?In this business, you never know when the bottom?s gonna fall out.? Hector has been following the stock of Rembrandt Paper Products (RPP), and after conducting extensive analysis, he feels the stock is about ready to move. Specifically, he believes that within the next 6 months, RPP could go to about $80 per share, from its current level of $57.50. The stock pays annual dividends of $2.40 per share. Hector figures he would receive two quarterly dividend payments over his 6-month investment horizon. In studying RPP, Hector has learned that the company has 6-month call options (with $50 and $60 strike prices) listed on the CBOE. The CBOE calls are quoted at $8 for the options with $50 strike prices and at $5 for the $60 options. Questions a. How many alternative investment vehicles does Hector have if he wants to invest in RPP for no more than 6 months? What if he has a 2-year investment horizon? b. Using a 6-month holding period and assuming the stock does indeed rise to $80 over this time frame: 1. Find the value of both calls, given that at the end of the holding period neither contains any investment premium. 2. Determine the holding period return for each of the 3 investment alternatives open to Hector Francisco. c. Which course of action would you recommend if Hector simply wants to maximize profit? Would your answer change if other factors (e.g., comparative risk exposure) were considered along with return? Explain. Case Problem 15.2 Jim and Polly Pernelli Try Hedging with Stock-Index Futures Jim Pernelli and his wife, Polly, live in Augusta, Georgia. Like many young couples, the Pernellis are a 2-income family. Jim and Polly are both college graduates and hold high-paying jobs. Jim has been an avid investor in the stock market for a number of years and over time has built up a portfolio that is currently worth nearly $375,000. The Pernellis? portfolio is well diversified, although it is heavily weighted in high-quality, mid-cap growth stocks. The Pernellis reinvest all dividends and regularly add investment capital to their portfolio. Up to now, they have avoided short selling and do only a modest amount of margin trading. Their portfolio has undergone a substantial amount of capital appreciation in the last 18 months or so, and Jim is eager to protect the profit they have earned. And that?s the problem: Jim feels the market has pretty much run its course and is about to enter a period of decline. He has studied the market and economic news very carefully and does not believe the retreat will cover an especially long period of time. He feels fairly certain, however, that most, if not all, of the stocks in his portfolio will be adversely affected by these market conditions?though some will drop more in price than others. Jim has been following stock-index futures for some time and believes he knows the ins and outs of these securities pretty well. After careful deliberation, Jim and Polly decide to use stock-index futures?in particular, the S&P MidCap 400 futures contract?as a way to protect (hedge) their portfolio of common stocks. Questions a. Explain why the Pernellis would want to use stock-index futures to hedge their stock portfolio, and how they would go about setting up such a hedge. Be specific. 1. What alternatives do Jim and Polly have to protect the capital value of their portfolio? 2. What are the benefits and risks of using stock-index futures as hedging vehicles? b. Assume that S&P MidCap 400 futures contracts are currently being quoted at 769.40. How many contracts would the Pernellis have to buy (or sell) to set up the hedge? 1. Say the value of the Pernelli portfolio dropped 12% over the course of the market retreat. To what price must the stock-index futures contract move in order to cover that loss? 2. Given that a $16,875 margin deposit is required to buy or sell a single S&P 400 futures contract, what would be the Pernellis? return on invested capital if the price of the futures contract changed by the amount computed in part b1, above? c. Assume that the value of the Pernelli portfolio declined by $52,000, while the price of an S&P 400 futures contract moved from 769.40 to 691.40. (Assume that Jim and Polly short sold one futures contract to set up the hedge.) 1. Add the profit from the hedge transaction to the new (depreciated) value of the stock portfolio. How does this amount compare to the $375,000 portfolio that existed just before the market started its retreat? 2. Why did the stock-index futures hedge fail to give complete protection to the Pernelli portfolio? Is it possible to obtain perfect (dollar-for-dollar) protection from these types of hedges? Explain. d. What if, instead of hedging with futures contracts, the Pernellis decide to set up the hedge by using futures options? Fortunately, such options are available on the S&P MidCap 400 Index. These futures options, like their underlying futures contracts, are also valued/priced at $500 times the underlying S&P 400 Index. Now, suppose a put on the S&P MidCap 400 futures contract (with a strike price of 769) is currently quoted at 5.80, and a comparable call is quoted at 2.35. Use the same portfolio and futures price conditions as set out in part c to determine how well the portfolio would be protected if these futures options were used as the hedge vehicle. (Hint: Add the net profit from the hedge to the new depreciated value of the stock portfolio.) What are the advantages and disadvantages of using futures options, rather than the stock-index futures contract itself, to hedge a stock portfolio? Must be 15- to 20- double-spaced pages in length and formatted according to APA style as outlined in the approved APA style guide. Must include a cover page that includes: Student?s name Course name and number Title of paper Instructor?s name Date submitted Must include an introductory paragraph with a succinct thesis statement. Must address the topic of the paper with critical thought. Must conclude with a restatement of the thesis and a conclusion paragraph. Must use at least five professional resources, including a minimum of two from ProQuest. Must use APA style as outlined in the approved APA style guide to document all sources. Must include, on the final page, a Reference Page that is completed according to APA style as outlined in the approved APA style guide.
Question 2
Assignment Type: Discussion Board Deliverable Length: 150?250 words Points Possible: 75 Due Date: 1/8/2012 11:59:59 PM CT The Discussion Board (DB) is part of the core of online learning. Classroom discussion in an online environment requires the active participation of students and the instructor to create robust interaction and dialogue. Every student is expected to create an original response to the open-ended DB question as well as engage in dialogue by responding to posts created by others throughout the week. At the end of each unit, DB participation will be assessed based on both level of engagement and the quality of the contribution to the discussion. At a minimum, each student will be expected to post an original and thoughtful response to the DB question and contribute to the weekly dialogue by responding to at least two other posts from students. The first contribution must be posted before midnight (Central Time) on Wednesday of each week. Two additional responses are required after Wednesday of each week. Students are highly encouraged to engage on the Discussion Board early and often, as that is the primary way the university tracks class attendance and participation. The purpose of the Discussion Board is to allow students to learn through sharing ideas and experiences as they relate to course content and the DB question. Because it is not possible to engage in two-way dialogue after a conversation has ended, no posts to the DB will be accepted after the end of each week. Use an search engine on the Internet to find examples of images or Web sites with images of bad grammar used in advertising, company Web sites, or news articles. For example, you can search "bad grammar in advertising" or "bad grammar examples" and ?Click on any of the Web sites listed, or ?Click "Images" at the top to view only images (from Web sites) with tags matching your keywords. If you click on the image, it will take you to the Web site location. Find at least 3 examples of poor grammar on various Web sites, making sure to list your Web references. For example, you might click and use Motivated Grammar as a starting point for searching for your examples. If you are able, right click the image to copy it, then paste the image on the Discussion Board directly (with the link for reference). If you are unable to do so, it is sufficient to provide only the link. In your Discussion Board posting, include the following: ?A description of the grammatical errors you found in each of your examples (i.e., wrong word, misspelled word, run-on sentences) ?Your edited version ?Your opinion on how the errors reflect on the company, author, or editor. How do you personally feel about the company given the grammar error involved? In your responses, you are to look at the images posted and add your own opinion as to the image reflected from the grammatical errors. In your own words, please post a response to the Discussion Board and comment on other postings. You will be graded on the quality of your postings. For assistance with your assignment, please use your text, Web resources, and all course materials.,OK Thanks,ok thanks
Question 3
1. Twelve days ago A. Corporate Raider acquired 10 shares of stock in SMPL Corp. The Original Shareholders own the remaining 30 shares and the share price is currently $10. The Board of Directors of SMPL Corp. does not want Mr. Raider to gain control of the firm and, after consulting a recent graduate of a MBA program, have decided their best strategy is an exclusionary self tender offer to the Original Shareholders. If the Board uses cash to buy 10 shares from the Original shareholders at $15 per share, what will be the value of the 10 shares held by Mr. Raider after the tender offer is complete? In answering assume all original shareholders tender their shares and round to the nearest whole dollar. Answer: a. $150 b. $100 c. $83 d. $167 e. $63 2. A merger is more likely to succeed if: Answer: a. Management is able to correctly identify the specific sources of expected synergies. b. The acquiring firm uses an industry based discount rate to evaluate incremental cash flows from the merger. c. The target firm has no free cash flow. d. The bid price and the present value of synergy are evaluated using the flow-to-equity approach. e. The target firm has no preferred stock. 3. To increase the NPV of a merger management of the acquiring firm should: Answer: (a) Increase the premium paid for target shares. This is particularly effective for diversifying mergers and when acquirers use considerable amount of debt to fund the acquisition. This is known as the leverage effect and it works primarily by reducing the co-insurance discount. (b) Avoid paying a premium for target shares. (c) Reduce the estimate of synergies for the acquisition. One of the reasons so few mergers have a positive NPV is that management usually overestimates the value of synergies. (d) Use debt to finance the acquisition because the dollar volume of debt issues dominates equity issues by a considerable margin. (e)All of the above will increase the NPV of a merger. (f)None of the will increase the NPV of a merger. 4. If two leveraged firms merge, the cost of debt for the new firm will generally be lower than it was for the two firms as separate entities. One reason for this is Answer: (a) strategic fits. (b) net operating losses. (c) surplus funds. (d) co-insurance. (e) None of the above.
Question 4
"Attached is the research paper, based on which following data extraction questions are to be completed. Best Practices Does the study identify any best practice on SSCs? List the practice(s) or copy and paste the passage(s) that refers to the best practice(s). Always include the page number. ? Impacts Does the study identify impact(s) to constituents and resources from best practice(s) adopted? List the impact(s) or copy and paste the passage(s) that refers to impact(s). Always include the page number. ? Benefits Does the study identify benefit(s) that resulted from the best practice(s) adopted? List the benefit(s) or copy and paste the passage(s) that refers to benefit(s). Always include the page number. ? Challenges Does the study identify challenge(s) that resulted from the best practice(s) adopted? List the challenge(s) or copy and paste the passage(s) that refers to challenge(s). Always include the page number. ? Drivers Does the study identify driver(s) from the adoption of best practice(s)? List the driver(s) or copy and paste the passage(s) that refers to driver(s). Always include the page number. ? Costs Does the study the cost(s) associated with the best practice(s) adopted? List the driver(s) or copy and paste the passage(s) that refers to the cost(s) of the best practice(s). Always include the page number. ? Types of Sustainability Practices What types of sustainability practices does the study mention ? environmental, social and/or economic? List the type of practice or copy and paste the passage(s) that refers to the different types of sustainability practice. Always include the page number. ? Detailed Instructions for Completing the Data Extraction Worksheet Important: Not all papers will have information on all of these topics. Read the paper carefully, identify which of these topics are present in the paper and extract the relevant information. Date: Include the date in which you completed the form Title: Include the title of the paper you are analyzing Year: Include the year of publication of the paper you are analyzing Country: If data for the paper you are analyzing was collected in a particular country (or countries), please list all country (countries). Region: If you identified a country (or countries) related to the paper, please list the appropriate region(s) that country or countries belong to. Sometimes papers talk about best practices in a specific region, instead of a specific country. Identify the region(s) from the following list: ? Africa, Asia, Europe, Latin America, North America, and/or Oceania Economy: Based on the country/region you specified, please identify whether the paper has a developed or developing economy. Sometimes papers relate studies that took place in a diversity of countries. If the study took place in South Africa and England, for example, you would list ?developing? and ?developed?. Industry sector: If applicable please list all industry sectors cited in the study you are analyzing. Methodology: Please list the methodology used in the paper. You will find this information in the methodology (or methods) section of the paper. Sustainability Practices: Please identify whether the paper addresses social, environmental and/or economic sustainability practices. Best Practices: Identify best practices on sustainability in supply chains mentioned in the paper. ?A best practice is a method or technique that has consistently shown results superior to those achieved with other means, and that is used as a benchmark? (Wikipedia, 2012). An example of a best practice would be environmental certification, such as ISO 14000. Drivers: Identify the motivation(s) that led companies to adopt best practices in SSCs. Costs: Implementing sustainable best practices in supply chains can be costly and some studies have tried to identify the costs related to the adoption and implementation of these practices. Identify any passages that mention the costs associated with the adoption of best practices. Types of Sustainability Practice: Please list the practices in each of the three dimensions of sustainability (economic, social, and/or environmental) mentioned in this paper. Examples of practices in each of these dimensions include, but are not limited to: Social ? work conditions, engagement with local community, social certification (e.g. SA 8000), etc. Environmental ? energy efficiency, pollution control, water treatment, waste reduction, protection of biodiversity, reduction of carbon emissions, environmental certification (e.g. ISO 14000, FSC certification), etc. Economic ? job creations, payment of taxes, micro-loans provided to smaller companies, promotion of economic development, etc. ",Thank you for the response. Yes, you can go ahead and finish all the questions; I just made the deposit for the amount you told. Thanks again.
Question 5
22. (4 points) On December 31, 2010, M Company sold some inventory to X Company in exchange for a $25,000 10% note receivable. The note principal will be collected as follows - $5,000 on December 31, 2011, $10,000 on December 31, 2012 and $5,000 on December 31, 2013. Interest will be collected every December 31 starting December 31, 2011. Under normal market conditions, M would only accept a note with a stated rate of 12%. The cost of the inventory sold was $10,000. Prepare the journal entries that M should make on 12-31-10, 12-31-11, 12-31-12, and 12-31-13. 23. (1 point) Dynasty Company uses the gross method to record sales made on credit. On August 1, 2010, Dynasty made credit sales of $200,000 with terms of 2/15, n/60. On August 12, 2010, Dynasty received full payment for the August 1, 2010 sale. Prepare the journal entries Dynasty should make on August 1, 2010 and August 12, 2010. 24. (4 points) A trial balance before adjustments included the following: Debit Credit Sales $500,000 Sales returns and allowance $10,000 Accounts receivable 50,000 Allowance for doubtful accounts 5,000 Prepare the proper adjusting journal entry for each of the following situations: o The estimate of uncollectibles is made by taking 4% of gross sales o The estimate of uncollectibles is made by taking 5% of net sales o The estimate of uncollectibles is made by taking 14% of gross accounts receivable o The estimate of uncollectibles is made by taking 13% of gross accounts receivable AND the allowance for doubtful accounts has a debit balance of $600 25. (1 point) Ace Co. prepared an aging of its accounts receivable at December 31, 2010 and determined that the net realizable value of the receivables was $450,000. Additional information is available as follows: Allowance for uncollectible accounts at 1/1/10?credit balance $ 38,000 Accounts written off as uncollectible during 2010 44,000 Accounts receivable at 12/31/10 530,000 Uncollectible accounts recovered during 2010 15,000 For the year ended December 31, 2010, what would be Ace's uncollectible accounts expense? 26. (1 point) Nenn Co.'s allowance for uncollectible accounts was $95,000 at the end of 2010 and $90,000 at the end of 2009. For the year ended December 31, 2010, Nenn reported bad debt expense of $13,000 in its income statement. What amount of write-offs did Nenn record during 2010? 27. (2.5 points) Acme Co.?s aging schedule as of year-end is given below: No. of Days Account is Outstanding Amount Probability of Collection 0 ? 30 $9,000,000 99.0% 31 ? 60 6,500,000 98.0 61 ? 90 3,000,000 94.0 91- 120 1,200,000 80.0 121-150 600,000 70.0 over 150 days 400,000 40.0 Acme accounts for bad debts using the allowance method. At the beginning of the year, the allowance had a credit balance of $1,750,000. During the year, Acme wrote off $1,500,000 of ARs. What is Acme?s bad debt expense for the year? SHOW YOUR WORK. 28. (2.5 points) The following pertains to Sheridan Company for the year ended 12-31-10. Sheridan estimates its allowance for doubtful ARs using an aging analysis. During the year, there were no subsequent collections of ARs previously written off. ? Gross accounts receivable, 12-31-09 $ 715,000 ? Gross accounts receivable, 12-31-10 $ 700,000 ? Provisions for uncollectible accounts recorded during the year ended 12-31-10 4% of credit sales ? Estimated uncollectible accounts per the aging analysis, 12-31-10 $ 225,000 ? Allowance for uncollectible accounts, 12-31-09 $ 239,000 ? Total gross sales during the year ended 12-31-10 $9,000,000 ? 77% of Sheridan?s sales are made on a credit basis What amount of cash did Sheridan collect during the year ended 12-31-10 relating to its total sales? SHOW YOUR WORK. 29. (2 points) Oak Company sold $1,200,000 of its accounts receivable to Stone Factors Incorporated. Stone assesses a 6% finance charge of the receivables sold and Stone retains, for possible adjustments, an amount equal to 8% of the receivables sold. Prepare the journal entry Oak should make if: o The receivables were sold on a without-recourse basis. o The receivables were sold with recourse and Oak estimates a recourse obligation of $24,000. 30. (3 points) On December 31, 2010, Pauline Company signed a 3%, $5,000,000 note with Norman City Bank. The market rate of interest on 12-31-10 was 4%. The note requires annual interest payments every December 31 starting on 12-31-11 and the note is scheduled to mature on 12-31-21. During 2015, Pauline?s financial situation worsened and Norman estimated that as of 12-31-15, it would only be able to collect $3,000,000 from Pauline on 12-31-18. Norman did estimate, however, that Pauline would continue to make the required annual interest payments. o Determine the amount of cash Norman gave Pauline on 12-31-10. o Prepare the adjusting journal entry Norman should make on 12-31-15 as a result of the impairment. 31. (3 points) Benson Plastics Company deposits all receipts and makes all payments by check. The following information is available from the cash records: MARCH 31 BANK RECONCILIATION Balance per bank $26,746 Add: Deposits in transit 2,100 Deduct: Outstanding checks (3,800) Balance per books $25,046 Month of April Results Per Bank Per Books Balance April 30 $27,995 $28,855 April deposits 10,784 13,889 April checks 11,600 10,080 April note collected (not included in April deposits) 3,000 -0- April bank service charge 35 -0- April NSF check of a customer returned by the bank (recorded by bank as a charge) 900 -0- Instructions (a) Calculate the amount of the April 30: 1. Deposits in transit 2. Outstanding checks (b) What is the April 30 adjusted cash balance? Show all work.,ARE YOU ABLE TO HELP?,HELLO IS ANYBODY THERE?
