Purpose of a bank reconciliation statement.
A bank reconciliation statement is used to compare your record to those of your bank to see if there is difference between the two sets of records. The ending balance of your version of cash records is known as the book balance while the bank`s version is known as bank balance. It is common for there to be a difference in the two balances. The results to the differences might be due to overdrawn bank account, bounced checks and overdraft fees. It is important for you to check the difference because there might be substantial variance between the amount you think you have and that the bank thinks you have. In some cases the bank may even elect to close down your account.
Answer:
Total cost= $15,100
Explanation:
Giving the following information:
The job cost record for Job A61 on March 1 showed a balance of $5,200.
Job A61:
March:
Direct materials= $2,300.
Direct Labor= $4,000.
Manufacturing overhead is allocated based on direct labor cost. The rate is 90% of direct labor cost.
MOH= 4000*0.9= $3,600
Total cost= 5,200 + 2,300 + 4,000 + 3,600= $15,100
The journal entry to record the inventory shrinkage is :Debit Cost of goods sold $18,600; Credit Inventory $18,600.
<h3>Inventory shrinkage</h3>
Based on the information given the appropriate the journal entry to record the inventory shrinkage is :
Debit Cost of goods sold $18,600
Credit Inventory $18,600
($12,400+$39,800-$33,600)
(To record inventory shrinkage)
Inconclusion the journal entry to record the inventory shrinkage is :Debit Cost of goods sold $18,600; Credit Inventory $18,600
Learn more about inventory shrinkage here:brainly.com/question/6233622
All of these factors are important to consider EXCEPT "taxes paid on interest" because the banking institution has no control over the tax rate and how much you would be responsible for paying at the end of the year. Tax rates are set by federal and state governments and would be the same rate no matter which savings account you chose.
Answer:
Option 2
I. State the facts of the company’s financial situation
II. Explain
A. The reasons why the company needs to take drastic action
B. The benefits of the company’s strategy
III. Inform the employees they will receive a 15 percent pay cut
IV. Close with a forward-looking statement.
Explanation: Based on the above question,the most appropriate option will be option 2.
When presenting a situation to a public or a person it is very important to give a brief about the situation where the audience will be expected to understand, once the audience Understands the prevailing situation,it makes their response and acceptance easy and more likely.
OPTION TWO IS THE MOST APPROPRIATE IN THIS SITUATION AND WILL YIELD THE MOST POSITIVE RESULTS.
