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STatiana [176]
3 years ago
15

For which of the following errors would the appropriate amount be added to the balance per books on a bank reconciliation?

Business
2 answers:
Jet001 [13]3 years ago
7 0

Answer:

The correct option is D,check written for $59, but recorded by the company as $95.

Explanation:

Option A would require that the adjustment of $54($93-$39) be deducted from balance per books since a lower amount was recorded in the first place.

Options B and C relate to items that would be corrected when reconciling the balance per bank statement not the cash book.

Lastly,option D painted a case where the amount deducted from cash book initially was higher than expected and the way out is to add the difference back to the balance per cash book in order to have a correct cash book position.

Anni [7]3 years ago
5 0

Answer:

D. Check written for $ 59 but recorded by the Company as $ 95

Explanation:

The correct choice is D since a check written at a higher than the correct amount has to be adjusted by adding the differential amount to the balance per books.

The options B and C are errors by the bank and thus would need to be adjusted on the bank side of the bank reconciliation.

The option A refers to a check value erroneously understated in the balance per books and this would require a deduction on the balance per books.  

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Suppose the banking system does NOT hold excess reserves and the reserve ratio is 25%. If Melanie deposits $1,000 of cash into h
Leviafan [203]

Answer:

$3,000

Explanation:

Calculation for the increase the money supply

Using this formula

Increase in money supply=(Cash/Reserve ratio)-Cash

Increase in money supply=($1,000/0.25)-$1,000

Increase in money supply=$4,000-$1,000

Increase in money supply=$3,000

Therefore based on the information given the banking system can increase the money supply by $3,000

3 0
2 years ago
Carla McFarland was an associate professor of English literature at Highland College. She was the only single person in her depa
Roman55 [17]

Answer and Explanation:

The case shown above is an example of discrimination by civil status, however it is not an example of violation of the civil rights law, as it is not prohibited by the Civil Rights Act of 1964. However, some states have their own legislation that prevents this type of discrimination, which makes it a violation of state laws, which can lead the offender to be severely punished.

This is an example of case of disparate treatment, as we can see that there is discriminatory treatment with an employee, where she is treated differently compared to other employees because of a characteristic of her personal life.

This would be a case of disparate impact if there were a group of protected and privileged employees at the expense of the exploitation of other employees.

8 0
3 years ago
Adam and Bob are identical twins who attended grammar school through high school together. Adam got a job after high school, and
Alexxandr [17]

Answer: Option A

                                         

Explanation: In simple words, human capital refers to the economic value of an individual employee to the organisation in which he or she works as based on the skill sets and experience that he she possess.

    The economic value can be created using various tools like education, training, good health or loyalty etc. Human capital is considered as an intangible asset but is not recorded in the balance sheet of the company as it cannot be quantified.

However, it is considered as the most important asset because the effective use of other resources depends on the human capital of an organisation.

7 0
3 years ago
Banks Company sold merchandise on account for $35,000 with terms 2/10, n/30. The cost of goods sold was $27,600. If the invoice
WITCHER [35]

Answer:

The amount of cash received by Banks Company is $34,300

Explanation:

The computation of the cash received by the bank company is shown below:

= Merchandise amount - discount

where,

Merchandise amount is $35,000

And, the discount equal to

= Merchandise amount × discount percentage

= $35,000 × 2%

= $700

Now put these values to the above formula  

So, the value would equal to

= $35,000 - $700

= $34,300

3 0
3 years ago
A customer has purchased 200 shares of ABC at $51 per shaer. The stock is now worth $54 and the customer buys 2 ABC Aug 55 Puts
trapecia [35]

Answer:

$200 loss

Explanation:

The customer's paid in total $51 (market price) + $5 per share (put options) = $56 per share. If the investor exercises the put options, he/she will have a net loss of $55 (put option price) - $56 (cost) = -$1 per share. Since the investor had 200 shares, his/her total loss would equal -$1 x 200 = -$200

5 0
3 years ago
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