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PSYCHO15rus [73]
3 years ago
9

Damon Company receives its monthly bank statement, which reports a balance of $1,875. After comparing this to the company’s cash

records, Damon’s accountants determine that deposits outstanding total $3,700 and checks outstanding total $3,950.
Required:
Calculate the reconciled bank balance for cash.
Business
1 answer:
anygoal [31]3 years ago
5 0

Answer:

The reconciled bank balance for cash is $1,625.

Explanation:

This question centres around bank reconciliation statement preparation. Bank reconciliation is a way of reconciling the bank statement to the cash book balance. Usually, there are discrepancies between the two as a result of direct bank transfers, standing orders, etc. The reconciling items are cleared within the business rule to avoid having aging items in the bank reconciliation.

To reconcile the bank balance for cash, we do the following:

Damon Company

Bank reconciliation statement

Balance per bank statement       $1,875

Add: Deposits outstanding         $3,700

Less: Checks outstanding        ($3,950)

Balance per cash book              $1,625

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According to the Level-5 leadership pyramid, managers can become executives who are capable of building lasting greatness into t
notsponge [240]

Answer:

Level 5

Explanation:

pyramid organizational structure is structure usually from 1 to 5 having , one leader at the top, along with

small executive leadership team which is at below level with tiers of managers that have their leading down to the bottom level of team of employees.

Level 5 leaders always shows

powerful mixture of personal humility as well as indomitable will. These set of people that fall under this heirachy are incredibly ambitious, though

their ambition comes as first and foremost as regards the cause, for the organization as well as its purpose and not themselves. It should be noted that According to the Level-5 leadership pyramid, managers can become executives who are capable of building lasting greatness into the organization through a combination of willpower and humility. This occur At

level 5 of the pyramid.

7 0
3 years ago
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Fred is required to pay Wilma $12,000 of alimony each year until their child turns 18. At that time, the payment will be reduced
Elan Coil [88]

Answer:

c. $12,000

Explanation:

In this question, we assume the Fred and Wilma divorced in year i.e before 2019. Since in the question, it is given that the Fred paid $6,000 Wilma and $6,000 directly to the Law school Wilma is attending i.e not related to the child

Both payments are related to Wilma  so we consider these payments and reflects the received payment which equals to

= $6,000 + $6,000

= $12,000

All other information which is given is not relevant. Hence, ignored it

4 0
3 years ago
Every decision should be thoroughly considered using a decision-making process.
Sergio [31]
<span>the answer is True.             </span>
6 0
3 years ago
Your project is almost complete when a team member notifies you she has added extra functionality to the product of the project,
Ierofanga [76]

There are a lot of constraint in business. What one should do as a result of this change is to Understand what functionality was added.

<h3>What are change control processes?</h3>

Change control is known as the process where all requests to change the approved parts of a project, program or portfolio are put or place into, looked or evaluated and then it is approved, rejected or deferred.

By understanding what functionality was added, one can make the best possible decision.

See the options below

Issue an approved change request.

Instruct the team member to remove the extra functionality.

Implement change control processes to track the change.

Understand what functionality was added.

Learn more about constraint in business from

brainly.com/question/6966983

3 0
3 years ago
Which financial statement tells you the value of the assets the company owns and the liabilities a company owes?.
Pavel [41]

Answer:

Balance Sheet

Explanation:

The balance sheet is a financial statement that shows a companies assets, liabilities, and shareholder equity.

4 0
3 years ago
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