While preparing a bank reconciliation, a bank service charge was discovered. This adjustment would be recorded with a Credit to cash, debit to bank fees expense.
Bank Reconciliation is an important manner in accounting wherein agencies healthy their bank statements with the transactions which can be recorded in their preferred ledger. making ready a financial institution reconciliation statement facilitates businesses to put off viable errors in transactions or bookkeeping.
There are 5 principal kinds of bank reconciliation: financial institution reconciliation, consumer reconciliation, dealer reconciliation, inter-company reconciliation, and business-unique reconciliation.
In bookkeeping, a financial institution reconciliation is a procedure by using which the financial institution account balance in an entity’s books of account is reconciled to the balance said by using the monetary organization inside the maximum latest bank declaration. Any distinction between the 2 figures needs to be examined and, if appropriate, rectified.
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Answer:
Sean and Jenny
The deductible net loss for the rental of their home is:
= $18,241.
Explanation:
a) Data and Calculations:
Number of days for rent of $3,000 collected = 40 days
Number of personal use of house = 18 days
Total number of days that the house was in use = 58 days
House Expenses:
Mortgage interest $14,000
Property taxes 3,500
Utilities 1,100
Maintenance 1,300
Depreciation 10,900
Total expenses $30,800
Proportion of house expense:
Rental use = $21,241 (40/58 * $30,800) 69%
Personal use = $9,559 (18/58 * $30,800) 31%
Total expense $30,800
The deductible net loss for the rental of their home is $18,241 ($3,000 - $21,241).
Answer:
Option (B) is correct.
Explanation:
Equivalent units of production(EUP) - Materials:
= Transferred out + Ending balance
= 10,451 units × 100% + 3,483 units × 100%
= 10,451 + 3,483
= 13,934
Equivalent units of production(EUP) - conversion:
= Transferred out + Ending balance
= 10,451 units × 100% + 3,483 units × 36%
= 10,451 + 1,253.88
= 11,704.88
Material cost = 
Material cost = 
= 73,157
Conversion cost = 
Conversion cost = 
Conversion cost = 
= 53,715
Therefore,
Total cost of units completed during the period(10,451 units):
= Material cost + Conversion cost
= 73,157 + 53,715
= 126,872
Answer:
It is a sales promotion.
Explanation:
Sales promotion tool is used because of following factors:
a) It improve the sales for short term as it gives another reason to buy the product.
b) It is targeted toward brand switcher.
c) It encourage occasional buyer to make more purchases.
d) Increase new customer and brand loyalty.
e) Provide benefits to existing customer.
Koffee is also using sales promotion tool to get benefit in sales and Brand development.
Answer:
C. A smaller proportion of the last monthly payment will be interest, and a larger proportion will be principal, than for the first monthly payment.
Explanation:
I prepared a summary of an amortization schedule to explain this:
principal = $100,000
r = 8% annual
n = 360 months
first payment = $733.76: $666.67 are interests and only $67.09 reduces principal
second payment = $733.76: $665.95 are interests and only $67.54 reduces principal
last payment = $733.76: $4.90 are interests and only $728.86 reduces principal to $0
