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3 years ago

Prepare a bank reconciliation for Show Me, Inc., as of June 30 from the following information:

Business

1 answer:

V125BC [204]3 years ago

3 0

Answer:

bank account reconciliation:

bank account balance $5,796

- outstanding checks $330

+ deposits in transit $424

+ error from Shirt, Inc., check $340

reconciled balance $6,230

cash account reconciliation:

cash account balance $6,026

+ note collected $410

- bank fee $34

- NSF check $172

reconciled balance $6,230

assets = liabilities + equity

cash acc. rec. notes rec. int. rec.

204 172 -382 -28 = 0 + -34

income statement

revenues - expenses = net income

0 - 34 = -34

All the adjustments are considered cash flows from operations.

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When society produces the combination of goods and services on the ppf that it values the most highly, society has?

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When society produces the combination of goods and services on the PPF that it values the most highly, society has Allocative efficiency. PPF is defined as the public provident fund, and Allocative efficiency<span> is the point in which the preference of the product consumption is balanced in production levels in an economy. This is specifically related to the benefit of a product or service being equivocal to the cost of making it, directly reflective of consumer preferences.
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3 years ago

. Assume you are participating in your employer's direct deposit program. On payday, the employer deposits your ________ into yo

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On pay day, the employer deposits your NET SALARY into your bank account.
Direct deposit program is a salary payment program in which an employer works together with the bank to deposit the employees salary directly into their accounts on the pay day of each month.

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3 years ago

All of the following costs are likely to decrease as a result of better quality except:

swat32

Answer:

The correct answer is (d)

Explanation:

Better quality can help to reduce many costs such as customer’s dissatisfaction cost, inspection cost and warrant and service cost. When customers don't like the quality of the product they are likely to buy the same product from somewhere else that is the dissatisfaction cost. Still, maintenance cost is likely to incur no matter how good the quality is. Maintenance cost helps to keep the product clean and fresh for long-term use.

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3 years ago

Fill in the blanks to complete the sentence. A manufacturing company has budgeted production at 5,000 units for May and 4,400 un

GarryVolchara [31]

Answer:

Direct material purchases in May = 21,670× $10= $216,700

Explanation:

Material purchase budget is determined by adding the closing inventory of material to the material usage budget less the opening inventory.

Material budgets for May will be prepared as follows:

Materials needed for May production = 5,500 × 3 = 16,500

Materials needed for June production = 4,400× 3= 13,200

Closing inventory of raw material in May =60% × June requirement = 60% × 13,200 =7,920

Material purchase budget for February = Usage budget + closing inventory - opening inventory

= 16,500 + 7,920- 2,750=21,670

Direct material purchases in May = 21,670× $10= $216,700

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2 years ago

A company purchased a commercial dishwasher by paying cash of $4,200. The dishwasher's fair value on the date of the purchase wa

kogti [31]

Answer:

$4,760

Explanation:

The value a company will record for the dishwasher will be the amount that was used to purchase the dishwasher plus the associated cost of transporting and installing the dishwasher.

The price of the dishwasher to be used is the actual amount it was bought and not the fair value.

Amount recorded for dishwasher= Price + Transportation + Installation fees

Amount recorded for dishwasher= 4,200 + 330 + 230

Amount recorded for dishwasher= $4,760

Note the fee for illegal parking is not considered because it is not a direct cost related to purchase of the dishwasher

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2 years ago