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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

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Suppose an economy’s national accounts are GNP = 100, C = 70, I = 40, G = 20 and EX = 20 where GNP is gross national product, C
Marysya12 [62]

Answer:

Imports is 50.

Current account balance is -30.

Total savings is 30.

After tax reduction total savings is 10.

Explanation:

GNP is given as  100.

The consumption expenditure is 70.

The investment expenditure is 40.

The government spending is 20.

The exports are given as 20.

GNP = C + I + G + EX - IM

100 = 70 + 40 + 20 + 20 - IM

100 = 150 - IM

IM = 50

The current account balance is the difference between exports and imports.

Current account balance

= EX - IM

= 20 - 50

= -30

Total savings in the economy is the difference between disposable income and consumption.

Total savings

= Y - C

= 100 - 70

= 30

In case government reduces taxes, the private saving will increase while the public saving will decrease.

Private saving

= Y - T - C

= 100 - 10 - 70

=20

Public saving

= T - G

= 10-20

= -10

Total saving

= Private saving + Public saving

= 20 + (-10)

= 20 - 10

= 10

7 0
3 years ago
Donnie Hilfiger has the following balances in its stockholders' equity accounts on December 31, 2015: Treasury Stock, $400,000;
Nana76 [90]

Answer:

Explanation:

The preparation of the stockholders' equity section of the balance sheet for Donnie Hilfiger as of December 31, 2015 is presented below:

                                                DONNIE HILFIGER

                                                     Balance Sheet

                                         (Stockholders' Equity Section)

                                          As of December 31, 2015

Common stock $350,000

Preferred stock $1,000,000

Additional paid in capital $3,200,000

Total paid in capital $4,550,000

Retained earnings $,1600,000

Total  $6,150,000

Less: Treasury stock - $400,000

Total Stock holders equity $5,750,000

3 0
3 years ago
Suppose that some teachers have decided that economic and financial uncertainty have made the prospect of retiring more​ risky,
Naya [18.7K]

Answer:

The correct answer is: "People are rational".

Explanation:

Economics is the study of people's rational options when faced with scarcity and uncertainty, and that happens to all of us. The problem is that people are hardly rational, because our nature often acts against our economic interests.

Not long ago and until today, the work is done during the day, that is, Monday through Friday; A reality for most people. However, much of the economic activity, both ours and the entire world, operates 24/7. Today, millions of workers have unpredictable schedules. This is especially common in jobs related to services and retail sales. For example, many chain stores use personnel algorithms with traffic and apparently this makes sense, but shareholders always expect efficient efforts to maximize profits. If not, however difficult it is, particularly for workers, to get another job.

6 0
3 years ago
During Year 2, Chico Company earned $1,950 of cash revenue, paid $1,600 of cash expenses, and paid a $150 cash dividend to its o
SCORPION-xisa [38]

Answer:

B) Total assets increased by $200.

Explanation:

If during Year 2, Chico Company earned $1,950 of cash revenue, paid $1,600 of cash expenses, and paid a $150 cash dividend to its owners. Based on this information alone:

Then it is correct that there was a net income of $350 before the payment of dividend which is gotten by 1,950 - 1,600. Cash from operating activities will also be the same amount of $350.

However it will not be correct to state that assets increased by $200 as there is no such indication.

6 0
3 years ago
If you were originally a lender, remain a lender even after a decline in interest rates. Will you get better or worse after the
Anestetic [448]

Answer:

If the lender rate decline he will be worst of due to consumer buying behavior.

Explanation:

  • Lenders are creditors and not all creditors are leanders. During a decline in the interest rates goes down and borrowing gets cheaper. The leander will be worse after the interest rates decline. If the interest rate rises or changes the lender may get higher rates.
4 0
3 years ago
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