All categories

2 years ago

While preparing a bank reconciliation, a bank service charge was discovered. This adjustment would be recorded with a?

1 answer:

7 0

While preparing a bank reconciliation, a bank service charge was discovered. This adjustment would be recorded with a Credit to cash, debit to bank fees expense.

Bank Reconciliation is an important manner in accounting wherein agencies healthy their bank statements with the transactions which can be recorded in their preferred ledger. making ready a financial institution reconciliation statement facilitates businesses to put off viable errors in transactions or bookkeeping.

There are 5 principal kinds of bank reconciliation: financial institution reconciliation, consumer reconciliation, dealer reconciliation, inter-company reconciliation, and business-unique reconciliation.

In bookkeeping, a financial institution reconciliation is a procedure by using which the financial institution account balance in an entity’s books of account is reconciled to the balance said by using the monetary organization inside the maximum latest bank declaration. Any distinction between the 2 figures needs to be examined and, if appropriate, rectified.

Learn more about bank reconciliation here brainly.com/question/15525383

#SPJ4

You might be interested in

Frank is worried about identity theft. He does not like to give access to his checking account to anyone but the bank.

Setler [38]

Answer:

Frank should set up automatic withdrawals for the company he is paying.

Explanation:

4 0

3 years ago

Read 2 more answers

A customer, who needs to drive to work in a Wisconsin winter, has a critical need to use the product Ice Melt. For him as a cons

Blizzard [7]

Answer:

Urgency / Postponement leads to customer inelastic demand of ice melt.

Explanation:

Elasticity of demand is responsive change in demand of good, due to change in price. Formula = % change in demand / % change in price

Factors Affecting Price Elasticity of Demand : Nature of commodity, Income, substitutes availability, time period, urgency / postponement, share in total expenditure,

Inelastic Demand is when demand responds proportionately less to price change. % change in demand < % change in price

Case 'Customer critically needs ice melt to drive to work' : This has inelastic demand i.e demand less respondent to price changes (he will buy that at high price too). Such because of the urgency of this demand & less scope of its postponement.

5 0

4 years ago

According to the trust-based relationship selling process framework, "discovering prospect's needs" is a part of which component

Kryger [21]

According to the trust-based relationship selling process framework, "discovering prospect's needs" is a part of the initiating customer relationship as a component of the framework.
 The initiation of customer relation is involved in the CRM (Customer Relationship Management), an approach that includes the interaction with current and potential customers.

8 0

3 years ago

Jobs, Inc. has recently started the manufacture of Tri-Robo, a three-wheeled robot that can scan a home for fires and gas leaks

Tems11 [23]

Answer:

case 1: when $405,000 fixed overhead cost can be avoided

make buy net income

direct material

994700 0 994700

direct labor 832300 0 832300

variable overhead 101500 0 101500

fixed overhead 600000 195000 405000

purchase price 0 2314200 (2314200)

total 2528500 2509200 19300

YES,jobs should accept the offer because it results in saving of $19300

CASE 2: when no fixed overhead can be avoided

make buy net income

direct material 994700 0 994700

direct labour 832300 0 832300

variable overhead 101500 0 101500

fixed overhead 600000 600000 0

opportunity cost 375000 0 375000

purchase price 0 2314200 (2314200)

total cost 2903500 2914200 (10700)

NO, jobs shold not accept the offer because it results in loss of $10700

4 0

3 years ago

IAS 32 defines a financial instrument as: any contract that gives rise to a financial asset of one entity and a financial liabil

Verdich [7]

Answer:

any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

Explanation:

IFRS is an acronym for International Financial Reporting Standards, it comprises of a set of accounting standards or rules issued by the International Accounting Standards Board (IASB). The International Financial Reporting Standards ensures that statement of income, when reported by accountants is consistent, transparent and comparable globall

IAS 32 defines a financial instrument as any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

7 0

3 years ago