Answer:
Total Current assets = $622,000
Explanation:
<u>Balance sheet (For the year ending)</u>
<u>Current asses Amount </u>
Accounts receivable $220,000
Cash $83,000
Stock $275,000
Finished goods $89,000
Raw materials $94,000
W.I.P $92,000
<u>Prepaid expenses $44,000 </u>
<u>Total Current assets $622,000 </u>
A bank service fee of $10 would be included on the bank reconciliation as on the last day of the bank statement
<h2>What exactly does a bank reconciliation include?</h2>
Starting with the bank's ending cash balance, adding any deposits that are currently being made up of the company to the bank, subtracting any checks that haven't yet been cleared by the bank, then either adding or subtracting any other items completes the basic process flow for a bank reconciliation.
<h3>A bank reconciliation is what?</h3>
At the conclusion of every month, a business should perform a bank reconciliation, which is that the process of confirming the correctness of both the bank statement and the cash accounts.
The most frequent reasons why the ending bank balance and ending book balance of cash differ.
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Answer:
The answer is $10,800
Explanation:
Straight line method of depreciation is:
Cost - residual value/number of useful life
Cost - $62,000
Residual value - $8,000
Number of years - 5years
=62,000 - 8,000/5
=57,000/5
$10,800.
Therefore, $10,800 will be charged every year.
Answer:
B. Scalping tends to be prevalent when there is a shortage of tickets.
Explanation:
Ticket scalping -
It is the method of buying the tickets of any event or show and then selling them at a much higher price to another person , is known as the process of ticket scalping .
It is an illegitimate practice .
Hence , during the shortage of ticket , the process of ticket scalping is increased .
Hence , the correct statement regarding Ticket scalping , is ( B. ) .
