1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
mash [69]
3 years ago
13

If the month-end bank statement shows a balance of $36,000, outstanding checks are $10,000 , a deposit of $4,000 was in transit

at month end, and a check for $600 was erroneously charged by the bank against the account, the correct balance in bank account at month end is :
a) $29,400
b) $30,000
c) $30,600
d) $41,400
Business
1 answer:
sukhopar [10]3 years ago
4 0

Answer:

The correct answer is C

Explanation:

The amount of correct balance which is shown in the bank account at the month end is:

= Month end balance - Outstanding balance + Deposit in transit at month end + Check which was erroneously charged by bank

= $36,000 - $10,000 + $4,000 + $600

= $26,000 + $4,600

= $30,600

Therefore, the month end balance amounts to $30,600 in the bank account.

You might be interested in
ABC, Incorporated desires to have the most qualified people in every position throughout its organization. This is an example of
Mashutka [201]

Answer:

The correct answer is letter "A": Developing human capital.

Explanation:

Developing human capital implies training existing employees of the company so they can specialize in their every-day duties which is likely to be positively reflected in their efficiency at work, increasing at the same time the productivity of the organization.

4 0
3 years ago
Suppose that congress hears about how well you\'re doing in your economics courses and seeks your advice on creating some public
Ksju [112]
I would suggest livelihood programs that would maximize information and proper training to study on self-employment having a small income business (food, product) or service (home utility services and technical assistance) that people can do. Provided that the government would also allow people to have start-up loan for a business. Online employment can also be opened to them for freelance opportunity, 
8 0
3 years ago
The auditors are concerned about transactions that have been recorded in the journals (and subsequently in the ledgers) that are
rodikova [14]

Complete question:

Assume the following general flow of documents in an accounting system. Reply to the following question:

"Source Documents --> Journals --> Ledgers"

The auditors are concerned about source documents that reflect valid transactions that have not been recorded in the journals. Which procedure would be most effective?

(1) Trace from source documents to journals.

(2) Vouch from journals to source documents.

Either (1) or (2).

Answer:

(1) Trace from source documents to journals.

Explanation:

Tracing is the method of tracking the transaction back to the source document in accounting records. Transaction failures are monitored and auditors are often used to ensure whether transactions have been properly reported.

Tracing relates to the compilation and the follow-up to the record of an financial transaction (the source document).

Tracing checks to see that the transactions that happened in the financial reports are registered. Therefore it would be most effective to translate "Trace documents from source into journals."

3 0
3 years ago
What is the effect of KFC in the economy of the world?​
Ludmilka [50]

Answer:

There are many effects. They equate for a large portion in the fast food industry

Explanation:

8 0
3 years ago
Independent auditing can best be described as:________. A. A regulatory function that prevents the issuance of improper financia
Elden [556K]

Answer:

C. A discipline that enhances the degree of confidence that users can place in financial statements.

Explanation:

Independent auditing includes the process of auditing by an independent auditor. It involves the process of analyzing and examining the financial transactions and records. The company's accounts, the business records, the transactions are all monitored and audited so as to avoid any unprecedented act. It do not indulge any means of profit in the whole process. Independent auditing is adopted by the shareholders in order to protect from any sort of frauds or unacceptable claims made in terms of financial records.  

8 0
3 years ago
Other questions:
  • Why are benefits of the sale or purchase of bonds?
    7·1 answer
  • Pinterest has gained a reputation for being among the most negative of social media platforms.
    9·2 answers
  • Demand for a product is​ 12,000 units per year. Every time an order is​ made, the company must pay​ $15.00 per order. The cost t
    10·1 answer
  • "Have you considered paying workers for what they produce? I found that when I paid employees by the piece, their productivity w
    13·1 answer
  • What role does savings play in the process of economic growth
    7·1 answer
  • All else being equal, corporations prefer payments it makes to be classified as dividends rather than business expenses. True Fa
    13·1 answer
  • Job costing is​ ________. A. used by businesses to price unique products for different jobs B. used by businesses to price ident
    7·2 answers
  • Production Budget Pasadena Candle Inc. projected sales of 800,000 candles for January. The estimated January 1 inventory is 35,0
    11·1 answer
  • 1. Question 1 Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent t
    9·1 answer
  • All of the following are assumptions of the perfectly competitive model except: Select an answer and submit. For keyboard naviga
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!