When bank charged another company's check against our account this would be included on the bank reconciliation as a addition to the balance per books.
A bank reconciliation statement summarizes banking and business activities and reconciles a company's bank accounts and its financial records. A bank reconciliation statement confirms that the payment has been processed and the cash collection has been credited to your bank account.
Withdraw an outstanding check. This will give you a reconciled bank balance. Then, use the cash balance at the end of the business to add up the interest earned and any outstanding bills. Deduct all bank charges, penalties and NSF checks.
Procedures for verifying the accuracy of both company bank statements and cash accounts. - Must be completed at the end of each month. A common cause of differences between the bank's ending balance and the cash book's ending balance.
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The answer is all of the above.
Risk sharing, liquidity, and knowledge are the three main services that the financial system offers to both savers and borrowers.
First, people seek steady returns on their holdings.
Investors often maintain a portfolio, or collection of assets, that offers generally consistent returns (diversification).
Risk is a measure of how unpredictable the return on an asset is.
Liquidity is a measure of an asset's ease of movement to be transformed into cash.
In financial markets, the information contains facts about borrowers and expectations of returns on financial assets.
Key Services of the Financial System:
- Effective Payment System
- Intermediary to Investors and Borrowers
- Sharing of Economic Financial Risk
- Diversification
- Liquidity
- Financial Information
Hence, key services that the financial system provides to savers include all of the above.
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The United States has issued a variety of currency notes for use in paying income tax, making investments, and making purchases from colonial to current times. Alexander Hamilton establishes the Bank of the United States in order to create a system of credit for the government.
<h3>What does an increase in labor efficiency mean?</h3>
favorable change If the labor efficiency variance is in the company's favor, it means that the workforce is operating as it should and that the number of hours it spends producing is in line with the business's planned criteria.
<h3>What do the symbols on Continental currency designs represent?</h3>
In a number of designs of Continental Currency, the thirteen colonies that battled and vanquished Great Britain during the American Revolution are shown. These representations represent the aspirations and virtues of the colonies.
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Answer:
C. To enforce property rights
Explanation:
Government intervention in market can be non materistically via regulation , materistically via taxes & subsidy.
Although the second materislistic way of tax, subsidy comes under the perview of 'Government Budget' .
Government budget is anual financial statement showing economy's expected revenue & expenditure .
Economic growth & stability by reallocation of resources , reducing income inequalities - reflect 'efficiency' & 'equity' as valid reasons .
Foreign protection is also not invalid depending upon the initial budding stage of a developing economy & its global stand. Eg - India 1950 to 1990 .
However all these are progressive legitimate reason for govt. Intervention .
But , enforcing property rights is a feature of 'socialistic (communistic) economy - which has its own demerits like loss of consumers soveireignity , lack of postive competitive efficiency , govt overburden.
Answer:
A) gain the monetary and political support of the rich for the federal government.
Explanation:
Hamilton theory was based on supporting the upper class of the citizens. This was to support government as the upper class would do business or great level, and that these citizens when will be given money for there business as debt to be paid back to government, will work harder and will help achieve the economy its targets.
This entire scheme/ strategy will help the federal government to gain success, and achieve a state of better financial viability in the entire economy.
With more opportunities and efforts the economy will better off automatically.
