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NARA [144]
3 years ago
11

The Cash account of Safety Security Systems reported a balance of $ 2 comma 450 at December 31​, 2018. There were outstanding ch

ecks totaling $ 1 comma 800 and a December 31 deposit in transit of $ 400. The bank​ statement, which came from Park Cities​ Bank, listed the December 31 balance of $ 4 comma 370. Included in the bank balance was a collection of $ 530 on account from Wayne Brown​, a Safety customer who pays the bank directly. The bank statement also shows a $ 30 service charge and $ 20 of interest revenue that Safety earned on its bank balance. Prepare Safety​'s bank reconciliation at December 31.

Business
1 answer:
Tanya [424]3 years ago
6 0

Answer:

You can prepare a bank reconciliation by starting with the balance as per the company's books, and undoing all entries that were entered in the books but are not yet reflecting in the bank statement, and then adjusting for all entries that are in the bank statement that were not recorded in the company's books as you would have entered them if given the chance to record them as shown below:

Explanation:

Balance as per cash account  2,450  

add back outstanding checks  1,800  

less deposit in transit                    (400)

add receipt from Wayne Brown     530  

less service charge                     (30)

Add interest earned               <u>       20  </u>

Balance as per Bank Statement <u> 4,370  </u>

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Question:

Match the items below to show the risks, benefits, and powers of stockholders.

A. Risk of being a stockholder

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A. Risk of being a stockholder : 1. Stockholders aren't guaranteed a return on their investment.

B. The benefit of being a stockholder: 2. Stockholders receive dividends when the company makes a profit

C. Power of a stockholder: 3. Stockholders can sell their shares in the company at any time

Explanation:

A stockholder is a person that can also be referred to as a shareholder in a company or a firm that is private or public.

Stockholder or shareholder is a person that owns by legal rights the stocks present in a company's shares.

Stockholders benefit from the companies that they have shares in when ever the dividends from the company's profit are made public by the company. They also have the right to vote about who sits on a company's board. Stockholders can sell their shares in a company anytime they want.

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