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12345 [234]
3 years ago
8

On August 31, 2021, the general ledger of The Dean Acting Academy shows a balance for cash of $7,914. Cash receipts yet to be de

posited into the checking account total $3,308, and checks written by the academy but not yet processed by the bank total $1,395. The company's balance of cash does not reflect a bank service fee of $32 and interest earned on the checking account of $43. These amounts are included in the balance of cash of $6,012 reported by the bank as of the end of August. Required: 1. Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2021.
Business
1 answer:
Monica [59]3 years ago
7 0

Answer: Reconciled ending balance of cash=$7,925

Explanation:

Bank reconciliation is used by companies to reconcile thier ledger balances and that of their bank's balance and to make necessary adjustments where necessary.

  BanK Reconcillation on August 31,     2021

Bank cash balance                    $6,012

add

Deposit outstanding                 +$3,308

deduct :

Checks outstanding                  -$1,395

Bank  balance reconciliation     $7,925

Company's book balance             $7,914.

add:

interest earned                             +  $43

deduct:

service fees                                    -  $32

Company balance reconciliation   $7,925

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aksik [14]

False Communities and countries with greater income inequality tend to have higher rates of crime and higher rates of drug use. These relationships are examples of positive correlations

<h3>What is  income?</h3>

Income is the consumption and saving opportunity gained by an entity over a given time period, which is usually expressed in monetary terms. Income is difficult to define conceptually, and definitions vary across fields.

Income is defined as the amount of money received by a person, group, or company over a specific time period. A salary of $70,000 per year is an example of income.

Income is money received by an individual or business in exchange for labor, the production of a good or service, or the investment of capital. Individuals typically earn money through wages or salaries, whereas businesses make money by selling goods or services for more than their cost of production.

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7 0
1 year ago
Match each important word with the phrase that best defines it.
Artyom0805 [142]

report the other answers it’s a virus
5 0
2 years ago
Pharoah Company had checks outstanding totaling $42200 on its May bank reconciliation. In June, Pharoah Company issued checks to
notka56 [123]

Answer:

$109,700

Explanation:

Pharoah Company Outstanding checks on bank reconciliation:

Formula for Outstanding checks on bank reconciliation will be:

Outstanding checks on bank reconciliation = Total checks outstanding+Checks issued during month -checks cleared during the month

Hence,

= $42,200+$263,900-$196,400

= $109,700

Therefore the amount of outstanding checks on Pharoah Company's bank reconciliation should be $109,700

5 0
3 years ago
assume peru had an adult population of about 25 million, a labor-force participation rate of 60 percent and an unemployment rate
nikdorinn [45]

Answer: 15 million people were employed.

Explanation:

Hi, to answer this question we have to multiply the adult population (25,000,000) by the labor-force participation percentage in decimal form (divided by 100).

Mathematically speaking:

25,000,000 x (60/100) = 25,000,000 x 0.6 = 15,000,000 people

15 million people were employed.  

Feel free to ask for more if needed or if you did not understand something.

6 0
2 years ago
Delux Technologies makes and sells only one product, a high-quality processor for mainframe computers. Delux was recently approa
Anton [14]

Answer:

Imagination Station is engaging in Vertical Integration.

Explanation:

Vertical Integration is a business strategy whereby a firm acquires businesses that provide the supplies it needs to make its products or that makes and sell its products.

In this context, Delux Technologies makes and sells only one product, a high-quality processor for mainframe computers and was approached by Imagination Station, a large computer manufacturer about purchasing their company.

4 0
3 years ago
Read 2 more answers
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