Answer:
Piece rate system
Explanation:
The piece rate system is the system in which the price is paid according to the units make or produced
Since in the question it is mentioned that the Janna sells handmade jewellery and her employees would paid a specific amount for each bracelet and necklace they developed irrespective of the time it takes so this represents the piece rate system
So the same is to be considered
Answer:
Nolan Company
Bank Reconciliation
June 30
$
Balance per cash book 22,064
Less: Bank Service charges ( 24)
Add: Error in recording payment ( $ 59- $ 50) 9
Add: Interest earned <u> 27</u>
Adjusted balance per cash book <u> 22,076</u>
Balance per bank statement 22,531
Less: Outstanding checks ( 2,655)
Add; Deposits in Transit <u> 2,200</u>
Adjusted balance per bank statement <u>22,076</u>
Explanation:
The bank service charges and the interest earned appear on the bank statement and has to be adjusted in the cash book balance. The errors found in recording the payment at $ 59 instead of $ 50 results in an overpayment and the correction needs to be added to the cash book balance
the outstanding checks has not yet been cleared by the bank so there is a reduction on the bank statement balance. The deposits in transit has not been received by the bank so needs to be adjusted as an addition on the bank statement balance.
It should be noted that a benefit of contributing to a retirement account is A. The amount of income that's taxable is reduced.
<h3>What is the benefit of retirement account?</h3>
It should be noted that employee contribution can help in reducing taxable income.
Contributions and investment gains won't be taxed until they're distributed.
Therefore, the benefit of contributing to a retirement account is the amount of income that's taxable is reduced.
Learn more about retirement on:
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