Answer:
It should be reported in the notes to the financial statements as a noncash transaction
Explanation:
The price ceilings and price floors are the two main types of price controls.
<h3>What is
price controls?</h3>
A price control is a mechanism employed by government to ensure that the price of a product or service does not go to high or low in the marjet.
The two type of price control is price ceilings and price floors. The price ceiling is used to set a maximum amount of product rpice while the price floors set the minimum amount of product price.
Read more about price control
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Answer:
Name one component/feature of each business environment in the case study
Answer:
$22,789
Explanation:
One of the uses of the Bank Reconciliation Statement is to check the accuracy of the Cash Balance.
The Balance on the Bank Statement and that of the Cash Book in the Ledgers should always agree.
Bank Reconciliation Statement as a July 31
Balance as per Bank Statement $22,364
Add Lodgments not yet credited $1,745
Less unpresented checks ($1,320)
Balance as per Cash Book $22,789
Therefore,
The balance of cash using a bank reconciliation is $22,789
Answer:
checking one's financial records against the bank’s
Explanation:
Reconciling an account is the regular confirmation that the reported balances are accurate. It involves checking one's account against bank balances to ensure the figures are tallying. Reconciling may require making adjustments to capture omitted transactions and charges. In practice, reconciliation involves comparing one financial records against the bank statement.