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
Alexus [3.1K]
2 years ago
13

f a check correctly written and paid by the bank for $352 is incorrectly recorded in the company's books for $299, how should th

is error be treated on the bank reconciliation?
Business
1 answer:
Alja [10]2 years ago
8 0

Add $53 to the book balance.

The book balance is the company's cash balance according to its accounting records. Your book balance may include transactions that have not yet been cleared or cleared from your bank account. At the end of the accounting period, the company's book inventory is reconciled with the bank balance via monthly account statements.

Posted book balance is the closing balance (posted funds) reported in the daily close (MT940). Depending on your sending bank's policy, this balance may include unbilled items. The Clearing Balance is the "true" interest-bearing balance available calculated on a given date book balance.

Learn more about book balance at

brainly.com/question/2853305

#SPJ4

You might be interested in
Product Y sells for $15 per unit, and has variable expenses of $9 per unit. Fixed expenses total $300,000 per year. How many uni
netineya [11]

Answer:

b. 65,000 units

Explanation:

The number of units of products y must sell to yield an annual profit of $90,000 is computed as;

Break even point in sales units = (Fixed cost + Targeted profit) / Contribution margin

Given that ;

Fixed cost = $300,000

Targeted profit = $90,000

Contribution margin = $15 - $9 = $6

Therefore,

Break even point in sales units = ($300,000 + $90,000) / $6

= 65,000 units

The number of units of products y must sell to yield an annual profit of $90,000 is 65,000 units.

3 0
3 years ago
Write short notes on-: <br>a)Micro enterprises <br>b)cottage industry ​
Effectus [21]

Answer:

cottage industry is a small-scale, decentralized manufacturing business often operated out of a home rather than a purpose-built facility

Explanation:

6 0
3 years ago
On January 1, 2018, Lowell Corp. acquired 80% of the voting common stock of Boston Inc. During the year, Lowell sold to Boston f
Hitman42 [59]

Answer:

$40,800

Explanation:

The computation of  the net income is shown below:-

With regard to non-controlling interest, Lowell Corp. and the non-controlling interest divided Boston net profits proportionately to their ownership interests.

Non controlling interest share of consolidated net income = Boston net income × Remaining percentage

= $204,000 × (100% - 80%)

= $204,000 × 20%

= $40,800

Therefore for computing the Non controlling interest share of consolidated net income we simply multiply the Boston net income with remaining percentage.

8 0
3 years ago
The FI Corporation’s dividends per share are expected to grow indefinitely by 5% per year. a. If this year’s year-end dividend i
Andreyy89

Answer:

a)

P₀ = Div₁ / (Re - g)

  • P₀ = current stock price = ?
  • Div₁ = next dividend = $8
  • Re = equity cost = 10%
  • g = constant growth rate = 5%

P₀ = $8 / (10% - 5%) = $8 / 5% = $160

b)

EPS = $12

Return on equity (ROE) = g / b

b = retention rate = 1 - payout ratio = 1 - ($8/$12) = 0.333

g = 5%

ROE = 5% / 0.333 = 15%

c)

Present value of growth opportunity (PVGO) = P₀ - EPS/Re

  • P₀ = $160
  • EPS = $12
  • Re = 10%

PVGO = $160 - $12/10% = $160 - $120 = $40 per share

6 0
3 years ago
In june 2016, kelly purchased new equipment for $26,000 to be used in her business. assuming kelly has net income from her busin
mel-nik [20]
The answer is "<span>$14,858".

this is how we calculate this;
</span><span>She purchased new equipment for = $26,000 
</span>($26,000 × 50% bonus) + ($13,000 × 14.29%)
=13,000 + 1857.7
= $14,857.7 = $14,858
4 0
3 years ago
Other questions:
  • Reporting relationships between bosses and subordinates is a function that relates to the ________ dimension of a firm's structu
    13·1 answer
  • On January 1, 2021, Weaver Corporation purchased a patent for $210,000. The remaining legal life is 20 years, but the company es
    8·1 answer
  • The distinction between supply and the quantity supplied is best made by saying that___________.
    9·1 answer
  • Why is investing in a mutual fund less risky than investing in a particular company’s stock?
    10·1 answer
  • the pure expectations theory holds, which of the following statements is CORRECT? a. The maturity risk premium would be zero. b.
    8·1 answer
  • E13.5 (LO 1 ) (Adjusting Entry for Sales Tax) During the month of June, Rowling Boutique recorded cash sales of $233,200 and cre
    14·1 answer
  • All are signs of neglect and emotional abuse EXCEPT:
    5·2 answers
  • Write a three- to five-sentence paragraph that defines economics. Based on your definition, explain why it is difficult to consi
    9·1 answer
  • You are considering an investment project with an internal rate of return of 8.7 percent, a net present value of $393, and a pay
    8·2 answers
  • _____________ is a deliverable-oriented grouping of the work involved in a project that defines its total scope.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!