Answer: 12.47%
Explanation:
First convert the APR to the relevant periodic rate.
The compounding is done daily so the periodic rate is:
= 11.75%/365
Effective Annual rate is calculated by the formula:
= ( 1 + periodic rate) ^ compounding period per year - 1
= ( 1 + 11.75%/365)³⁶⁵ - 1
= 12.47%
Answer: 6520 + 3x
Explanation:
Firstly, we need to calculate the variable cost per hour which will be:
= (Highest activity cost – Lowest activity cost)/(Highest activity hour – Lowest activity hour)
= (9460 - 7300)/(980 - 260)
= 2160 / 720
= 3
We'll also find the fixed cost which will be:
= Fixed cost = Highest activity cost – (Variable cost per hour x Highest activity hour)
= 9460 - ( 3 x 980)
= 9460 - 2940
= 6520
Therefore, the cost function will be:
= 6520 + 3x
If a check correctly written and paid by the bank for $749 is incorrectly recorded in the company's books for $794, this error be treated on the bank reconciliation--- Subtract $45 from the book balance.
What is bank reconciliation?
Bank Reconciliation is an important process in accounting in which organizations match their bank statements with the transactions that are recorded in their general ledger. Preparing a bank reconciliation statement helps businesses to eliminate possible errors in transactions or bookkeeping
What is the journal entry for bank reconciliation?
The journal entries for the bank fees would debit Bank Service Charges and credit Cash. The journal entry for a customer's check that was returned due to insufficient funds will debit Accounts Receivable and will credit Cash.
Learn more about bank reconciliation :
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Answer:
Explanation:
The initiatives that must be taken into account to make an effective and accurate forecast are the following:
1. To have information about all the sales that have been made in the company. With this data you can analyze how often a certain product moves.
2. An updated inventory must be available, since it will be ready to work.
3. The order in which the products are arriving, is another aspect to take into account, since they can be used to replenish the stock.
4. To Keep the merchandise on time. It is useful for calculating the forecast.
5. To generate the forecasts, a forecast of the sales area in the commercial area must be maintained and allows the customer to maintain first-line contact.
