Answer:
Both requirements 1 and 2 are the same, but I guess one refers to a bank reconciliation statement and the other one to a cash account reconciliation.
Bank account reconciliation:
bank balance $9,810
+ deposits in transit $2,935
- outstanding checks 358 and 359 ($2,225)
<u>+ check deducted by mistake $590</u>
reconciled bank account $11,110
Cash account reconciliation:
Cash account balance $10,276
+ note and interest collected $1,320
- bank fees ($31)
- NSF check Dane Jarls ($555)
<u>+ error on check 341 $100 </u>
reconciled cash account $11,110
Answer:
a. Incremental analysis.
b. Sunk cost.
c. Relevant information.
d. Opportunity cost.
e. Joint products.
f. Out-of-pocket cost.
g. Split-off point.
Explanation:
a. Incremental analysis: examination of differences between costs to be incurred and revenue to be earned under different courses of action.
b. Sunk cost: a cost incurred in the past that cannot be changed as a result of future actions. Sunk cost can be defined as a cost or an amount of money that has been spent on something in the past and as such cannot be recovered.
c. Relevant information: costs and revenue that are expected to vary, depending on the course of action decided on. Hence, relevant cost are relevant for decision-making purposes but not sunk costs.
d. Opportunity cost: the benefit foregone by not pursuing an alternative course of action. Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.
e. Joint products: products made from common raw materials and shared production processes.
f. Out-of-pocket cost: a cost yet to be incurred that will require future payment and may vary among alternative courses of action.
g. Split-off point: the point at which manufacturing costs are split equally between ending inventory and cost of goods sold. Thus, it give rise to joint products that emerge from the same raw materials and a shared manufacturing process.
Answer:
Laurel bond % change = -6.6%
Hardy bond % change = -16.3%
Explanation:
current bond price $1,000
interest rate 7%
Laurel bond matures in 4 years, 8 semiannual payments
Hardy bonds matures in 15 years, 30 semiannual payments
if market interest increases to 9%
Laurel bond:
$1,000 / (1 + 4.5%)⁸ = $703.19
$35 x 6.59589 (annuity factor, 4.5%, 8 periods) = $230.86
market price = $934.05
% change = -6.6%
Hardy bond:
$1,000 / (1 + 4.5%)³⁰ = $267.00
$35 x 16.28889(annuity factor, 4.5%, 30 periods) = $570.11
market price = $837.11
% change = -16.3%
Answer:
Among the advantages of skill-based pay are the following:
Flexibility is increased by encouraging the performance of multiple tasks. It enables job rotation, and filling of temporary vacancies due, for instance, to absenteeism. It therefore contributes to a leaner workforce.
Explanation:
Hiii Eid Mubarak to you too! Stay safe!!
