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larisa86 [58]
1 year ago
11

after a bank reconciliation is completed, journal entries are prepared for items in the balance per company's records as well as

items in the balance per bank statement. true false
Business
1 answer:
BaLLatris [955]1 year ago
7 0

'After a bank reconciliation is completed, journal entries are prepared for items in the balance per the company's records as well as items in the balance per bank statement.

This statement is False.

In accounting, bank reconciliation is the process of reconciling the bank account balances on a company's books with the balances reported by financial institutions in their most recent bank statements. You should check the difference between the two numbers and correct if necessary.

Bank reconciliation is the process of reconciling cash book data with corresponding data on bank statements. This is an important process for the CFO's office and ensures the accuracy of the accounting records.

Bank reconciliation is an important internal control tool and is necessary to prevent and detect fraud. It also helps identify accounting and banking errors by explaining the difference between cash balances on accounting records and bank balances on bank statements.

Learn more about Bank reconciliation brainly.com/question/15525383

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Integrity Accounting Firm provides various financial services to organizations. Integrity has decided to price its jobs at the t
torisob [31]

Answer:

$194,310

Explanation:

The price charged by The J. Escobar Law Firm to the dance club is as follows:

Direct Materials                           $20,000

Direct Labour                              <u>$150,000</u>

Total Variable Cost of Jobs       $170,000

14.3% Mark up on TVC               <u>$24,310</u>

The price charged ro the club <u>$194,310</u>

8 0
3 years ago
An Economy That Is Neither Growing Nor Shrinking Is Said To Be In A Period Of
ludmilkaskok [199]

An economy that is neither growing nor shrinking is usually said to be in a period of stagnation.

5 0
3 years ago
John Freeden is negotiating with Bill Murray to buy Bill's mountain bicycle. The following conversation has taken place: John: "
aliya0001 [1]

Answer:

A) Bill and John have a contract for the sale of the bike at $375.00

Explanation:

John first made an offer to buy the bike at $325 ⇒ Bill responded with a counteroffer increasing the price of the bike ⇒ John accepted Bill's counteroffer ⇒ they have a binding contract.

When parties are bargaining a contract, the process of giving an initial offer and then a counteroffer (or counteroffers) is part of the process of forming a contract. It is a necessary part, since without this bargaining process there is no contract. A contract is formed when one of the parties accepts the other party's offer or subsequent counteroffer.

5 0
3 years ago
The raw materials used in manufacturing during the year totaled $1,018,000. Raw materials purchased during the year amount to
Margaret [11]

Answer:

1,081,000

Explanation:

Here we will use the formula

Material Purchase = Beginning raw material - (Ending raw material + raw material used)

by applying this formula we can calculate Material purchased.

= 547,000 - (610,000+1,018,000)

= 1,081,000

5 0
3 years ago
A production function is a relationship between:____.a. inputs and profit. b. inputs and quantity of output. c. inputs and reven
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Answer:

b. inputs and quantity of output

Explanation:

A production function is a relationship between inputs and the quantity of output. In other words, it is the entire production process that goes into creating a product. This includes the specific materials that need to be inputted into the process in order for the output to be exactly as needed in order for the product to come out as desired and the right quantity. Thus, creating a relationship between input and output

4 0
3 years ago
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