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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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The members of the group recommended 3,5,7 years as prison sentence individually but 10 years together. 10 years is more extreme when compared to the sentences recommended individually.

I hope my answer helps you.

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3 years ago
Advantages and disadvantages of implementing plan where functional managers will be held responsible for cost overruns against t
Morgarella [4.7K]

Answer:

Kindly check explanation

Explanation:

Implementing plans where functional managers will be held responsible for cost overruns against their original estimate possess both advantages and disadvantages :

The advantages include:

1) Efficient use of Resources : A functional manager could be explained as the head or a person who has managerial authority over a department within a business organization. As such the functional manager will be able to monitor more effectively and take control of his unit. Holding them responsible for cost overruns will ensure that they are more cautious when it comes to resource and cost management as they will not want to be sanctioned.

11) ACCOUNTABILITY: It increases the sense of responsibility of the functional managers as they are being held fully responsible for the decisions made within their unit. This places a higher burden of showing sincerity on the managers.

The disadvantage associated with the plan is the possibility of producing low quality products resulting from the economical and cautious approach embarked upon in other to prevent cost overrun, materials used may be lesser quality than expected.

5 0
3 years ago
. According to the path-goal theory of leadership, which of the following leadership styles stresses high-quality performance an
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Answer:

The correct answer to the following question will be Option C (Achievement-oriented leadership).

Explanation:

  • The Path-Goal model is indeed a concept based on clarifying the style or activity of a leader that best suits the individual and the working conditions to reach a goal
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3 years ago
An external competitor to Construction (from another island) is offering to build the new homes for $1300 each. Here are facts a
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Answer:

a. The minimum transfer price (per home) that Construction would be willing to accept would be $1,270

b. The maximum transfer price (per home) Island Evaluations would be willing to accept would be $1,300

Explanation:

a. According to the given data If Construction accepts the proposal of Island Evaluations, then it has to foregone the profits which could have been earned if Construction accepted the proposal of local villagers to build an incline, a bridge and a campground.

Hence, minimum transfer price (per home) for Construction should be such that it covers the profit foregone as given above:

Now, profit foregone is calculated as per the table below:

Figures in $

Particulars Revenue Cost Profit

Incline        1400          600 800

Bridge         1500 950  550

Campground 2700 1200 1500

Total        5600 2750 2850

Therefore, the transfer price should be such which can generate a profit of $2,850 for Construction.

Therefore, total revenue which should be generated = Cost of building five new homes + Profit foregone

= 700*5 + 2850 = $6,350

Hence, minimum transfer price (per home) should be = 6350/5 = $1,270

b. The maximum transfer price (per home) that Island Evaluations will be willing to accept is $1,300 per home as quoted by the external competitor from another island.

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