Answer:
The total comes to $121.2.
Explanation:
You went grocery shopping and paid with a check.
Cost of groceries: $45.20.
Your check bounced, resulting in a $25 fee from the bank due to insufficient funds in your account at the time of payment for groceries.
The bank also charged your account an additional $25 for the bounced check.
The grocery store notified you that you owed them a $25 fee because of the bounced check.
You will need to pay $45.20 again.
Money order cost: $1.
Therefore, your total grocery expenditure equals:
$45.20 (actual grocery cost) + $25 (owed to the bank for your friend's bounced check) + $25 (bank fee for bounced check) + $25 (fee charged by the grocery store for the bounced check) + $1 (money order)
= $121.20.
Thus, your actual outlay for groceries amounts to $121.20.
The gain amounts to $370
Reasoning:
To determine the gain or loss for the date 12/31/2018, according to ABC's amortization schedule
On this date, the carrying value was $196,370 while ABC procured the bonds back for $196,000 on 12/31/2018
Now let’s compute the gain or loss using this formula
Gain/Loss = Carrying value - Bond stock
Substituting into the formula gives us Gain/Loss =$196,370-$196,000
Gain/Loss=$370
Therefore, on the date 12/31/2018, ABC will show a gain of $370
