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Elenna [48]
3 years ago
6

Number each of the following steps from 1 to 7 to identify the steps needed to reconcile a bank statement. (The model in the pre

sentation uses the same sequence with a different numbering system.)
1. Check to be sure that all deposits included in your record book are included and service charges are subtracted.
2. Make a list of outstanding checks, with the amounts for which they were written
3. The statement should agree with your check register.
4. Subtract the outstanding checks from the ending balance.
5. After checking for service charges, check the bank statement for other charges.
6. On the bank statement, find the amount the bank has credited you. It is called "ending balance.
7. Arrange all of the canceled checks in numerical order.
Business
1 answer:
Flura [38]3 years ago
5 0

Answer:

1. Arrange all of the canceled checks in numerical order.

2. Make a list of outstanding checks, with the amounts for which they were written.

3. On the bank statement, find the amount the bank has credited you. It is called "ending  balance.

4. Subtract the outstanding checks from the ending balance.

5. Check to be sure that all deposits included in your record book are included and service charges are subtracted.

6. After checking for service charges, check the bank statement for other charges.  

7. The statement should agree with your check register.

Explanation:

First arrange arrange the cancelled checks numerically, list all outstanding checks also referred to as unrepresented checks to know amount recorded in the firm book not in the bank statement, Also check the bank statement to identify the ending balance, then deduct the unrepresented or outstanding checks from the ending balance. check to be sure there are no un-credited checks and bank charges, ensure they are deducted. This will agree the bank statement with the cash book

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When the government transfers resources to the poor in the form of a good or service, it is called?
Airida [17]

When the government transfer resources to the poor in the form of a good or service it is called an in-kind transfer.

Many countries government provide large in-kind transfer resources to the poor in the form of a good or service. These transfers are commonly referred to as government redistribution programs, presumably from the wealthy to the poor.

The term in-kind transfers generally refers to goods, services, and transactions not involving money or not measured in monetary terms are transferred to the needy.

Hence, the in-kind transfers is based on the idea that governments want to target transfers to the needy.

To learn more about in-kind transfer here:

brainly.com/question/20411157

#SPJ4

4 0
1 year ago
Suppose that there is asymmetric information in the market for used cars. Sellers know the quality of the car that they are​ sel
denis23 [38]

Answer:

A buyer would be willing to pay at most $24,000.

Explanation:

There is a 40% chance of getting low quality cars.

Value of high quality car is $30,000.

Value of low quality car is $15,000.

Price of car that buyer will be willing to pay

=40% of lower quality+60% of higher quality

=40% of $15,000+60% of $30,000

=0.4*15,000+0.6*30,000

=$6,000+$18,000

=$24,000

So, the buyers will be willing to pay a maximum value of $24,000.

8 0
3 years ago
Sparks Fireworks manufactures and sells fireworks. Their raw materials used is $71,500. Their beginning raw materials inventory
algol13

Answer:

The correct answer would be, $70500

Explanation:

Raw Material Turnover means what amount of raw materials is used within a specific period of time. So the raw material turnover would be calculated by adding the beginning inventory with the amount of material used within the period, and then the remaining material will be deducted. So the whole calculations are shown as follows:

Beginning Raw Material Inventory: $5000

Raw Material Used:                $71500

Ending Raw Material Inventory:    $6000

Raw Material Inventory Turnover:

Beginning Inventory + Raw Material Used - Ending Raw Material

= 5000+71500-6000= $70500

7 0
3 years ago
Kansas Enterprises purchased equipment for $73,000 on January 1, 2021. The equipment is expected to have a five-year service lif
Margaret [11]

Answer:

Depreciation expense = $13,130

Book value = $46,740

Explanation:

Depreciation is a method of expensing the cost of an asset.

Depreciation expense using the straight line method = (Cost of asset - salvage value) / useful life

($73,000 - $7,350) / 5 = $13,130

The depreciation expense each year would be $13,130.

Book value = Cost of asset - Depreciation expense

In December 2021, the book value would be = $73,000 - $13,130 = $59,870

In December 2022, the book value would be = $59,870 - $13,130 = $46,740

I hope my answer helps you

4 0
3 years ago
He theoretic perspectives of priming, agenda setting, and framing are all similar, yet scholars say they are not exactly the sam
Tasya [4]
I was stuck on the same thing in my class test. I ended up failing but if I get the answers to it I’ll totally send them to you!!!
3 0
4 years ago
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