Ask question

Ask question

All categories

3 years ago

13

Bank service charges = $20 Deposit outstanding = $150 Interest earned on the bank account = $10 Checks outstanding = $400 Which

items should be deducted from and added to the bank balance in completing the reconciliation?

1 answer:

m_a_m_a [10]3 years ago

6 0

I think the deduct checks outstanding should be deducted from the bank balance and deposit outstanding should be added to the bank balance

You might be interested in

Pop-Quiz/12 points!!

ICE Princess25 [194]

C is the answer I think

4 0

4 years ago

Wither Spoon Company requires a new manufacturing facility. It found three locations; all of which would provide the needed capa

suter [353]

Answer:

$42,500 payments at the beginning of each of the next twenty-five years. Assuming Wither Spoon Company's borrowing costs are 8% per annum

Explanation:

Assuming Wither Spoon Company's borrowing costs are 8% per annum

th e option that is least costly to the company is Location C because it only requires $42,500 payments at the beginning of each of the next twenty-five years.

Hence Location A which may be purchased immediately for $500,000 cash and Location B which may be acquired with an immediate down payment of $100,000 and annual payments of $39,900 at the end of each of the next twenty years are not the best option for the company to choose from which therefore makes LOCATION C the best option for Wither Spoon Company because it save cost as as well the least costly to the company.

6 0

3 years ago

Ayden is the sole proprietor of a shoe repair shop in Atlanta. His business has been increasing for five years and he is now con

andrew-mc [135]

Answer:

His conclusion is based on his own soul-interest.

Explanation:

In the following situation, Ayden is a sole Proprietor he has no team or management system to discuss the idea of opening a new shop, Ayden has to decide about his all expenses, revenues, sources of finance and decision cost from his knowledge and experience.

Ayden is behaving rationally because he is fully liable for his decisions.

7 0

3 years ago

An appraiser has assigned the following weights to three adjusted sale prices: Comparable 1: $329,500 45% weight Comparable 2: $

n200080 [17]

Answer:

$322,990

Explanation:

The reconciled estimated market value of the subject property will be calculated as follows:

($329,500 X 0.45) + ($320,900 X 0.35) + ($312,000 X 0.2) = $322,990

8 0

3 years ago

On April 1, Lewis Company paid $14,400 for two years of insurance in advance. Lewis Company recorded the transaction by debiting

Dominik [7]

Answer:

31 Dec Expense A/c Dr. $5,400

To Prepaid Expense A/c $5,400

(Therefore, expense for the current financial year recorded)

Explanation:

We know that at the time of insurance paid in advance on 1 April for 2 years, entry was;

Prepaid Insurance A/c Dr. $14,400

To Cash A/c $14,400

Now at year end the expense relating to current period shall be recognized properly in the books, so that matching principle of revenue against expenses shall be matched.

Thus, period from 1 April to 31 December = 9 months

Expense for 9 months = $14,400 \times \frac{9}{24} = 5,400$

That means expense for the year = $5,400

Therefore, entry for such recording will be:

31 Dec Expense A/c Dr. $5,400

To Prepaid Expense A/c $5,400

(Therefore, expense for the current financial year recorded)

6 0

3 years ago