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san4es73 [151]
3 years ago
13

Identify each of the following reconciling items as: An addition to the cash balance according to the bank statement. A deductio

n from the cash balance according to the bank statement. An addition to the cash balance according to the company's records. A deduction from the cash balance according to the company's records. Assume that none of the transactions reported by bank debit and credit memos have been recorded by the company. Write "entry" by items that will require a journal entry in the company's accounts. 1. Deposits in transit. 2. Bank service charges. 3. NSF check. 4. Outstanding checks. 5. Check for $690 incorrectly recorded by the company as $960. 6. Check for $420 incorrectly recorded by the company as $240.
Business
1 answer:
bonufazy [111]3 years ago
6 0

Answer: please see below for answer

Explanation: 1. Deposits in transit-----additions to cash balance according  to bank statements

2. Bank service charges. ---- A deduction from the cash balance according to the company's records.

3. NSF check.----- A deduction from the cash balance according to the company's record

4. Outstanding checks.----- A deduction from the cash balance according to the company's record

5. Check for $690 incorrectly recorded by the company as $960-----An addition to the cash balance according to the company's records.

6. Check for $420 incorrectly recorded by the company as $240-----An addition to the c ash balance according to company record

Journal  Entry

NSF check  ----       Accounts Receivable- debit; Cash--Credit

Bank Service charge  ----    Bank Expense -Debit, Cash Credit

Check which is incorrectly recorded by the company----Accounts payable--debit; Cash ---Credit.

Deposits in transits and Outstanding checks---No entry.

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Answer:

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Answer:

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6 0
3 years ago
The price elasticity of demand measures the:
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Answer:

The correct answer is letter "B": magnitude of the response in quantity demanded to a change in price.

Explanation:

Price elasticity of demand is the measure of how quantity demanded for a good or service changes as a result of changes in price. <em>Price elasticity of demand is calculated by dividing the percentage change in quantity demanded by the percentage change in price</em>. If the result is equal or greater than one (1) the good or service is elastic. If the result is lower than one (1), the product is inelastic.

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Answer:

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The variable cost here is the cost of providing dinner per ticket as such,

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3 years ago
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This is an example of dividends. Correct answer is B.
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3 years ago
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