1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
AVprozaik [17]
1 year ago
5

In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larg

er than the amount of the check is added to the balance per company's records.
Business
1 answer:
never [62]1 year ago
6 0

The statement is true.

In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larger than the amount of the check is added to the balance per the company's records because the excess amount would be reduced from the bank balance in the company's records, So the company books are not correct. To make them correct the excess amount should be added back to the balance as per the company's records.

For example, if the check amount was 500 but the company recorded it as $550. Then means that the company records show $50 less compared to the bank statement. Therefore, that $50 is added back and then it comes equal to the bank statement balance.

When a note is written to settle open account an entry that converts the accounts receivable account to a note receivable account is required. This entry is required because when the note is written to settle accounts the company has to receive notes in the future and the amount of the account.

<em>Your question is incomplete. Please read below to find the missing content.</em>

In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larger than the amount of the check is added to the balance per company's records.

TRUE

FALSE

Learn more about balance here: brainly.com/question/1115815

#SPJ4

You might be interested in
An investment offers €4,000 per year for 10 years, with the first payment occurring one year from now. (Do not include the euro
PilotLPTM [1.2K]

Answer:

25,670.80€

Explanation:

this is an ordinary annuity since the first payment occurs one year from now. The present value of an ordinary annuity is given by the following formula:

present value = annual distribution x PV annuity factor

  • annual distribution =4,000
  • PV annuity factor, 9%, 10 periods = 6.4177

present value = 4,000 x 6.4177 = 25,670.80€

8 0
3 years ago
Suppose bundle a contains 5 cds and 5 dvds and bundle b contains 88 cds and 33 dvds. if a consumer is able to rank different com
Fofino [41]
<span>If a consumer was asked to rank different combinations of goods and services terms of how much utility they provide, then a bundle with a total of 112 cds and dvds would rank higher than a bundle with a total of 10 cds and dvds, if based on total of goods only. This does not take into account the contents of the media.</span>
5 0
3 years ago
How does the automated system improve the efficiency and timeliness of financial <br> statements?
stich3 [128]
Ceee
 nam inteles scuze nu stiu

4 0
3 years ago
The vice president of logistics for a salty-snack A reading service for the visually impaired requires each reader applicant to
katrin2010 [14]

Answer:

logistics integration with cost-effective technique.

Explanation:

Combining these two techniques the company might better attend the consumers and also save costs for the Company.

3 0
3 years ago
Black Diamond Company produces snow skis. Each ski requires 2 pounds of carbon fiber. The company’s management predicts that 6,1
frutty [35]

Answer:

Production for the third quarter   159,500

Explanation:

Sales for the period           161,000

Desired ending inventory    4,600

Total production needs     165,600

Beginning Inventory             (6,100)

Production for the third quarter   159,500

The sales for the period and the desired ending inventory are the total units we need for the quarted.

the beginning inventory reduces the production because are units we already have

5 0
3 years ago
Other questions:
  • Buckette co. owned 60% of shuvelle corp. and 40% of tayle corp., and shuvelle owned 35% of tayle. what is this pattern of owners
    10·1 answer
  • Auditors must gather evidence, and obtain documentation around identified risks. A risk in the purchasing process is that a purc
    12·1 answer
  • You want to run a difference-in-difference experiment with a price increase for the bacon cheeseburger item on your menu. If you
    12·2 answers
  • On January​ 1, 2018, Waller Sales issued in bonds for . These are eightyear bonds with a stated rate of ​%, and pay semiannual i
    12·1 answer
  • The following is a trial balance of Barnhart Company as December 31, Year 1: Account Title: Debit Credit Cash 12,500 Accounts Re
    14·1 answer
  • _____________________ argues that the productivity of workers will increase if they are paid more, and so employers will often f
    9·1 answer
  • where cost is in dollars and time is in minutes. The cost of driving an automobile is $5.50 with a travel time of 21 minutes, wh
    15·2 answers
  • Mi familia y yo fuimo al cine y noscoperamo papra la entrada que fue $245 si mi hermana dio 1/5 del total mientras yo di 4/10 y
    5·1 answer
  • Advantages of discounted payback period​
    11·1 answer
  • Activities your consultancy would create to help promote the Veldskoen by DHL.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!