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RUDIKE [14]
1 year ago
10

What does reconciling an account mean?

Business
1 answer:
Gala2k [10]1 year ago
8 0

Reconciliation is the accounting process of comparing two data sets to ensure that the numbers are correct and consistent.

Reconciling bank statements simply means comparing your internal financial records with those provided by your bank. This process is critical to being able to identify anomalous transactions caused by fraud or accounting errors.

All businesses are required to reconcile their banks at least once a month. It is convenient to reconcile the books immediately after the end of the month, as at the end of the month your bank will send you a monthly statement that you can use as the basis for your reconciliation. Balance sheet reconciliation is the process of closing the balances of all individual companies.

Learn more about Reconciliation here:- brainly.com/question/15525383

#SPJ4

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The San Pedro Company forecasts that total overhead for the current year will be $10,000,000 and that total machine hours will b
Temka [501]

Answer:

the  overhead rate is $50 per machine hour

Explanation:

The computation of the overhead rate is shown below:

Predetermined overhead rate

= Estimated total Overhead ÷ Estimated total machine hour

= $10,000,000 ÷ 200,000 hours

= $50 per machine hour

hence, the  overhead rate is $50 per machine hour

The same should be considered and relevant

4 0
3 years ago
Why should the client's legal expenses be examined?
Rus_ich [418]
Hey there,
The answer to your question is - <span> To determine if there is any litigation pending or threatened.

Hope this helps :))

<em>~Top♥</em>
</span>
7 0
3 years ago
Net cash flow from a transaction equals the difference between cash received and cash disbursed in the transaction.
Ipatiy [6.2K]

Answer:

True

Explanation:

Imagine you're selling lemonade. It costs you $2 for a lemon, and you can make 5 glasses from it.

You sell each glass for $1.

At the end of the day, your profit per lemon = the total value of lemonade sold - the total cost of lemons. If you only sell 1 lemon worth of lemonade, it will be $5-$2 = $3 profit.

Net cash flow means the same as "profit".

6 0
3 years ago
Project evaluation from the ________ viewpoint serves some useful purposes and/but should ________ the ________ viewpoint.
Afina-wow [57]

Project evaluation from the <u>local</u> viewpoint serves some useful purposes and/but should <u>be </u><u>subordinated</u><u> to</u> the <u>parent's</u> viewpoint.

Project evaluation is the process of measuring the success of a project, program or a portfolio. The project evaluation process has been around as long as projects themselves.

In a project, every aspect of the project such as risks, costs, scope, or return on investment (ROI) is measured in order to determine if it’s proceeding as planned. Thus, it should be subordinated to the parent's viewpoint.

Hence, it requires the evaluator to gather important information to analyze the process and outcome of a certain project.

To learn more about Project evaluation here:

brainly.com/question/23897971

#SPJ4

7 0
2 years ago
If the company obtained a loss before taxes of $36,000 during the year, calculate the amount of ISR
Sever21 [200]

Explanation:

to calculate the loss without Isr the company removed isr form its revenue and loss metrics for both presented years in calculating the adjusted ebitda

3 0
2 years ago
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