Answer & Explanation :
Bank Reconciliation Statement is prepared to reconcile (match) the differences between bank balance as per cash book & bank balance as per pass book, at end of an accounting period.
The differences may arise because of following reasons :
- Errors committed by firm or bank
- Cheques paid but not collected, upto the last date (added in cash book, but not in bank balance)
- Cheques issued but not yet presented for payment, upto last date (subtracted in cash book, but not in bank balance)
- Direct expenses & direct incomes settled by bank (done in bank balance, but not in cash book)
BRS involves starting with balance as per any book - cash book or passbook. Then, the adjustments for mismatch are done, to arrive at correct balance as per the other book.
Answer:
a. First set of entries:
Debit: Accounts receivable with $2,000
Credit: Bad debt expenses with $2,000
b. Second set of entries:
Debit: Cash with $2,000
Credit: Account receivables $2,000
Explanation:
These entries will appear as follows in the book Gideon Company on July 10:
Details DR ($) CR ($)
Accounts receivable 2,000
Bad debt expenses 2,000
<em>Being the transfer of the bad debt recovered back to the accounts receivable.</em>
Cash 2,000
Account receivables 2,000
<em>Being the cash income received in respect of bad debt recovered.</em>
Answer
Hi,
First install the social media marketing app, set up an account with customized followers for your campaigns and lastly use the marketing section on the shopify admin part to create the campaign.
Explanation
First, a user has to understand the basic requirement for social media marketing apps such as a having a published social media page for the business. Well, on the shopify admin section select marketing, then create a campaign for the add while choosing the carousel ad option. Set up a campaign for marketing using the app. On the settings, ensure you select the target country for your audience and confirm that the ad is billed to that specific add account. Then you are good to go!
Hope this helps!
Answer:
d. ensures managers always make good decisions.
Explanation:
Managerial economics is the study of the economics theory with accounting managerial scope to ensure the decision taken are as required within the business practices. It helps managers to solve accounting problems and make decision using economic theory and laws.
It provides a basis to solve and give the best solutions at all times even under constraints or in the time of scarcity. It uses quantitative methods and statistical tools to get better result oriented strategies.
