Answer:
a. Deposit in transit $5,500.
This is <em>added to the balance on the bank statement</em> because it has already been added to the books of the company but it is yet to be processed by the bank.
b. Bank service charges $25.
<em>Deducted from the book balance</em> because the bank has already deducted this charge from the company's bank account so the company needs to do the same in its books.
c. Interest credited to Horton’s account $31.
<em>Added to the book balance</em> because this is interest earned on the account from the bank. The bank has therefore already added it to the company's bank account and so the company needs to add it to their books.
d. Outstanding checks $7,422.
<em>Deducted from the balance on the bank statement</em> because the company issued a check from their account but it has not be debited from the bank account yet but has been recorded in the books.
e. NSF check returned $377.
<em>Deducted from the book balance. </em>
Unusual loss $(300,000)
Unusual gain $700,000
Hope this helped! If you have anymore questions, let me know and I'll answer them.
Answer:
A) A healthy economy because it results from a steady rise in demand
Answer:
The correct answer is A. King John’s poor financial decisions and loss of territory
Explanation: