The Cash account of Safe and Secure Security Systems reported a balance of $ 2 comma 550 at December 31, 2018. There were outstanding checks totaling $ 900 and a December 31 deposit in transit of $ 400. The bank statement, which came from Park Cities Bank, listed the December 31 balance of $ 3 comma 690. Included in the bank balance was a collection of $ 650 on account from Cathy Karr, a Safe and Secure customer who pays the bank directly. The bank statement also shows a $ 20 service charge and $ 10 of interest revenue that Safe and Secure earned on its bank balance. Prepare Safe and Secure's bank reconciliation at December 31.

Oakmont company has an opportunity to manufacture and sell a new product for a four-year period. the company’s discount rate is 18%. after careful study, oakmont estimated the following costs and revenues for the new product: cost of equipment needed $ 230,000 working capital needed $ 84,000 overhaul of the equipment in year two $ 9,000 salvage value of the equipment in four years $ 12,000 annual revenues and costs: sales revenues $ 400,000 variable expenses $ 195,000 fixed out-of-pocket operating costs $ 85,000 when the project concludes in four years the working capital will be released for investment elsewhere within the company. click here to view exhibit 12b-1 and exhibit 12b-2, to determine the appropriate discount factor(s) using tables.