Kane manages a used book store he reads a report advising him to stock more encyclopedias. However the report is mistaken customers in Kane's town hardly ever buy encyclopedias. what problem could this mistake cause?
As mentioned below, if the consumers do not buy the encyclopedias, then they will lose money due to purchasing items that consumers do not want. It's necessary to not only look over reports, but understand the reports to make sure that a business is not overstocking in items that consumers are not actually in demand for. Consumers will purchase items they have a demand for and based on the reports, you can understand the items they are in demand for versus the items they will not be purchasing.
Answer:
$11,160
Explanation:
The computation of the adjusted balance on the bank reconciliation is shown below:
For Bank balance
= Balance per bank + Deposit in transit - Outstanding checks
= $14,400 +$2,120 - $5,360
= $11,160
For book balance:
= Balance per company records - NSF checks - Bank service charges
= $12,005 - $780 - $65
= $11,160
I think it’s the continual system
The external parties that might analyze the company's financial position include creditors and investors.
It should be noted that the financial statements of a company is used by both the internal and the external users to know how well a company is doing.
The financial position of a company but used to evaluate the performance of the company. Investors will like to invest in a company that has a positive cash flow statement.
Investors will also like a company that has a growing profit. Therefore, the financial position of a company is vital to the investors and creditors.
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Answer: C. Additional Paid-in Capital -Common $4.720,000.
Explanation:
Based on the information given in the question, the journal entry to record the stock dividend would go thus:
Debit: Retained earnings = 80000 × $60 = $4,800,000
Credit: Common stock = 80000 × $1 = $80000
Credit: Additional paid in capital- Common stock = 80,000 × $59 = $4,720,000
(To record share dividend)
Therefore, the journal entry to record the stock dividend would include a credit to Additional Paid-in Capital -Common $4.720,000
