Answer:
b)Timing differences between the bank statement and the depositor's records are reflected in the bank reconciliation.
c) The bank reconciliation is useful in proving the accuracy of the Cash account in the general ledger.
d) We must reconcile the balance of the bank's records and the Cash account in the general ledger and explain or account for any differences in the two
Explanation:
The bank reconciliation is one done between the balance per the books and balance per the bank statement. This is usually as a result of transactions known as reconciling items.
These are items that have either been recognized in books but yet to be recorded by the bank or vice versa, transactions recorded wrongly by one of the parties etc.
Government attempts to prohibit monopolization of a market are known as antitrust regulations.
Answer:
C. They have Access to enough capital to operate in high-cost industries.
Explanation:
Both monopolies and oligopolies have some common traits, and one of the most important ones is that they all have a large market power. Their power comes from high entry barriers to the industries in which operate in. Generally these industries are high-cost industries, e.g. it costs billions to build the electric grid of a large city. These high entry barriers decrease or virtually eliminate the possibility of competition.
Answer:
Explanation:
a. The preparation of the retained earnings statement for the month ended November 30, 2018 is presented below:
Healthy Products Company
Retained Earning statement
For the month ended November 30, 2018
Beginning balance of retained earning $2,940,000
Add: Net income $93,500
Less: Cash Dividend paid -$7,000
Ending balance of retained earning $3,026,500
b. As the trial balance, income statement, and the statement of the stockholder equity that comprise of common stock and the retained earning is prepared before preparing the balance sheet. Because the amounts are required to preparing the balance sheet
Answer:
Option E Sales
Explanation:
The reason is that the expenses can always be expressed as a percentage of sales rather than expressing it as a percentage of total assets or balance sheet items. This is because many company has millions of dollars investment in plant and equipment but they don't have any profits for the year this means that the sales is more relevant to the expenses than the balance sheet items.