Answer:
D) deduction from the balance per bank statement
Explanation:
A bank reconciliation statement is a document that matches the cash balance on a company’s balance sheet to the corresponding amount on its bank statement. Reconciling the two accounts helps determine if accounting changes are needed. Bank reconciliations are completed at regular intervals to ensure that the company’s cash records are correct. They also help detect fraud and any cash manipulations.
Answer:
The University of Dental Health (UDH)
Functions Type of Center
Accounting Cost Center
Bookstore Profit Center
Cafeterias Profit Center
Career services Cost Center
Community workshops Profit Center
(providing
continuing professional
education necessary for
state licensure)
Custodial services Cost Center
Financial aid Cost Center
Human resources Cost Center
Information technology Cost Center
Residence halls Profit Center
Student parking lots (fee based) Profit Center
University newspaper/radio station Cost Center
Explanation:
The UDH's cost center is a department or function that does not directly contribute to its profitability but costs it money to operate its activities. A profit center, on the other hand, directly contributes to the University's profitability by generating revenue through its activities. Please, note that the dividing line is thin. The determinant factor depends on the choices and efforts made by an organization's management to commercialize some of its internal services.
Answer:
a. Riflebird Company is a proprietorship (Roger did not make any withdrawals from the business). Roger reports <u>$45,000</u> net operating profit and <u>$10,000</u> long-term capital loss on his tax return.
The IRS classifies sole proprietorships are pass through entities which are not taxed directly, instead their owners (proprietors) are taxed.
b. Riflebird Company is a C corporation (no dividends were paid during the year). Roger reports <u>$35,000</u> net operating profit and <u>$0</u> long-term capital loss on his tax return.
If Riflebird is classified as a corporation, then there is no such thing as capital gains or losses for corporations, all income and losses are considered operating income or losses.
<span>Joyce and Marvin run a day care for preschoolers. They are trying to decide what to feed the children for lunches. They would like to keep their costs down, but also need to meet the nutritional requirements of the children. Because they should focus the health of the children</span>