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The average monthly balance in Company X's petty account on [#permalink]
07 Jan 2005, 17:54
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The average monthly balance in Company X's petty account on any given date is the average of the closing balances posted on the last business day of each of the past 12 months. On march 6th 1990, the average balance was $692.02. what was the average monthly balance as of June 23rd, 1990.
(1)As of June 23,1990, the total of all the closing balances posted on the last business day of each of the last 12 months was $45.64 less than it had been on march 6th, 1990.
(2)The closing balances posted on the last business days of March, April, May, 1990 were $145.00,$3000.00 and $725.25 respectively.