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
galben [10]
1 year ago
9

How would you reconcile for a bank service fee listed on the statement?

Business
1 answer:
konstantin123 [22]1 year ago
3 0

To reconcile for a bank service fee listed on the bank statement, <u>C. enter it</u> into your external register in the same manner as a withdrawal.

<h3>What are bank service fees?</h3>

Bank service fees are charges imposed by financial institutions on their personal and business customers for account set-up, maintenance, and minor transactional services.

During bank reconciliation, the correct procedure is to record this transaction in the books as a reduction of the bank balance.

Thus, to reconcile for a bank service fee listed on the bank statement, take Option C.

Learn more about bank service charges at brainly.com/question/26494219

#SPJ1

You might be interested in
Optimus Company manufactures a variety of tools and industrial equipment. The company operates through three divisions. Each div
PIT_PIT [208]

Answer:

OPTIMUS COMPANY

Home Division Responsibility Report For the Year Ended December 31, 2020

The report is attached in form of a variance report with comments.  Where the variance is not indicated, it means that it was neither favorable nor unfavorable.

Explanation:

A responsibility report is usually presented by a division that is an investment center.  An investment center has responsibility for return on investments.

The investment center takes charge of the cost, revenue, profit, and investments of the division.  It is expected to produce returns on its investment that will be favorable to the shareholders of the company.  It is directly responsible for profitability of the division vis-a-vis the capital investments made in the center.  It is unlike other divisions like cost center, revenue center, and profit center, which narrowly report their performances in accordance with their responsibilities.

This is why it does not only report on the cost, but also the revenue, the profit and the returns on investment achieved during a period.  An investment center is, therefore, the largest division of an entity.

Download xlsx
3 0
3 years ago
Preparing a Selling and Administrative Expenses Budget Fazel Company makes and sells paper products. In the coming year, Fazel e
Verdich [7]

<u>Solution and Explanation:</u>

<u>The following is the selling and administrative expense structure of the Fazel company for the year. According to the given information and the data:</u>

The Variable selling expenses (19730000* 3%)                 591900

The Fixed Expenses  

The Salaries expense              960000  

The Utilities expense              365000  

The Office space expense         230000  

The Advertising expense         1200000  

The Total Fixed expense                                                  2755000

The Total selling & admin Expense                                  3346900

<u>Note:</u> the variable expense is calculated by multiplying the total sales given in the question with the percentage of the commission given

5 0
3 years ago
Mike is a sole proprietor who buys, sells and repairs kilns and other equipment used in pottery making. He has an arrangement wi
Artyom0805 [142]

Answer:

c) Broker Factor.

Explanation:

A broker factor is an agent that sells goods that are from someone else for a comission and this person takes possession of the products that is selling. Also, a broker factor can make a sell in his/her name and has authorization to receive the money from the sale. Because of this, Mike's relationship with K&M is that of a broker factor.

6 0
3 years ago
H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory informatio
irinina [24]

Answer:

The calculation is shown below:

Explanation:

According to the scenario, the computation of the following data can be done as follows:

Total Cost = Quantity × Unit Cost

Total NRV = Net Realizable Value × Quantity

So, by putting the value in the formula, we get,

Item       Quantity     Total Cost        Total NRV    Lower of cost or NRV

A             59   $1,416.00         $1,239.00         $1,239.00

B             89   $3,471.00         $4,361.00         $3,471.00

C             19   $1,083.00        $1,159.00         $1,083.00

D             79   $2,686.00        $3,081.00         $2,686.00

E             359   $6,821.00         $5,026.00              $5,026.00

Total                   $15,477.00        $14,866.00         $13,505.00

6 0
3 years ago
(!!!PLEASE ANSWER FAST!!!) (!!!15 POINTS!!!)
MAVERICK [17]

Answer:

Explanation   highest paying

:

6 0
2 years ago
Other questions:
  • Lucinda buys a new gps system for​ $250. she receives consumer surplus of​ $75 from the purchase. what value does lucinda place
    12·1 answer
  • True or false: keynesian economists argue that the government can fight inflation by implementing expansionary fiscal policy.
    12·1 answer
  • Service businesses employ approximately ___ percent of the u.s. work force.
    12·1 answer
  • Vextra Corporation is considering the purchase of new equipment costing $43,500. The projected annual cash inflow is $12,700, to
    7·1 answer
  • The bookkeeper mailed out a check for $450 to a vendor, but the check has not been cashed yet. How is this recorded in a bank re
    8·1 answer
  • If U.S. residents chose to travel overseas less due to concerns about the safety of foreign travel, then in the open-economy mac
    13·1 answer
  • The________ of the message is based on the number of times an average person in the target market is exposed to a message.
    12·1 answer
  • _______ decreases the number of dollars in the hands of the public and increases the number of bonds in the hands of the public.
    15·1 answer
  • What is marketing management?why is it important?​
    5·2 answers
  • A project with a cash inflow of $185 followed by a cash outflow of (-$250) one year later will have an irr of ___ percent.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!