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1 year ago

What does reconciling an account mean?

1 answer:

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.

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2 years ago

What is the typical relationship between time and interest rate everfi?

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3 years ago

Coca-Cola sells two different zero-calorie versions of Coke: Diet Coke and Coke Zero. It has chosen to attempt to appeal to men

skad [1K]

Answer:

The answer is market positioning.

Explanation:

Market positioning is defined as the method to appeal to a specific market segment through certain marketing efforts. It is clear from the explanation that Coke Zero is targeted towards male customers – unlike Diet Coke which is intended for female; as shown by the product name. The male customer targeting is apparent from their ad campaign choices, which is meant to appeal to men.

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2 years ago

12-3. (Break-even point and selling price) Simple Metal Works, Inc. will manufacture and sell 300,000 units next year. Fixed cos

aev [14]

Answer:

Selling price= $5.08

Explanation:

Giving the following information:

Number of units= 300,000

Fixed costs= $350,000

Desired profit= $250,000

Variable cost rate= 0.65

First, we need to calculate the unitary contribution margin using the break-even point formula:

Break-even point in units= (fixed costs + desired profit)/ contribution margin per unit

300,000 = (350,000 + 250,000) / contribution margin per unit

300,000 contribution margin per unit = 600,000

contribution margin per unit= 600,000/300,000

contribution margin per unit= $2

If the variable cost rate is 0.65, then:

Unitary varaible cost= 2/0.65= $3.08

Selling price= contribution margin per unit - unitary varaible cost

Selling price= 2 - (-3.08)

Selling price= $5.08

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2 years ago

The cost incurred by a firm through the foregone earnings on capital invested is a(n):

Yuri [45]

The answer is sunk cost
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For example, let's say for the business operation, you make a prepaid rent for a building for the whole year.
In this situation, the prepaid rent could be considered as a sunk cost because it's already incurred and not recoverable anymore

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3 years ago