Owen Company's unadjusted book balance at June 30 is $9,120. The company's bank statement reveals bank service charges of $50. Two credit memos are included in the bank statement: one for $940, which represents a collection that the bank made for Owen, and one for $60, which represents the amount of interest that Owen had earned on its interest-bearing account in June.
Required:
a. What is the true cash balance?

$10,070

Explanation:

The true cash balance is the balance having considered the effect of the transactions that have happened but are yet to be captured in the books.

Reviewing the transactions,

Hence the true cash balance

= $9,120 - $50 + $940 + $60

= $10,070

a manufacturer of printed circuit boards uses exponential smoothing with trend to forecast monthly demand of its product. at the end of december, the company wishes to forecast sales for january. the estimate of trend through november has been 200 additional boards sold per month. average sales have been around 1000 units per month. the demand for december was 1100 units. the company uses α = 0.20 and β = 0.10. make a forecast including trend for the month of january.