All categories

3 years ago

"Which one of the following items requires an adjustment on the bank side of the bank reconciliation?

Business

1 answer:

ale4655 [162]3 years ago

5 0

Answer:

Deposits in transit

Explanation:

A company's deposit in transit is the currency and customers' checks that have been received and are rightfully reported as cash on the date received, and the amount will not appear on the company's bank statement until a later date. A deposit in transit is also known as an outstanding deposit.

When there is a deposit in transit, the amount should be listed on the company's bank reconciliation as an addition to the balance per bank.

You might be interested in

According to economists, when two people make the exactly opposite decision:

disa [49]

Answer:

b. each person evaluates the situation according to his/her individual self-interest.

Explanation:

This can be generally seen in ancient and modern form of economics where in the course of their works, they can end up countering themselves in the midst of a project.

Here, or in a case of such, a great part of economics deals and accommodates psychology an the both economics that have probably found themselves in the field are expected to evaluate the situation according to each others self interest; especially when knowing the risks, pros and negative effect of the activities that is been carried out.

Secondly, this model is a useful measurement device by which economic situations can be evaluated and also levels of competition that exist in real markets can be checked.

6 0

4 years ago

Which section of a research poster or paper allows other scientists to repeat an experiment?

Triss [41]

The <span> section of a research poster or paper that allows other scientists to repeat an experiment is: The method sections
In method sections, a researcher could write a thorough explanation on how he/she conducted the experiment. It's being done so the readers could check the validity of the results</span>

7 0

3 years ago

20 points easy …………………….

dlinn [17]

Answer:

D.....................................

7 0

3 years ago

Identify the uses of generally accepted accounting principles (GAAP). A. Independent accountants use GAAP to determine the amoun

lora16 [44]

Answer:

The correct option is;

B. Companies use GAAP when preparing financial statements

Explanation:

Generally Accepted Accounting Principles (GAAP) are the guidelines with regards to the standards, principles, practices and procedures of financial statement compilation by accountants issued by the Financial Accounting Standards Board (FASB). It is a requirement that all publicly quoted companies make use of GAAP for their financial compilation.

GAAP comprises of the generally accepted accounting records reporting and recording methods as well as policy board standards of accounting procedures.

7 0

4 years ago

Flannery Company, a manufacturer of small appliances, had the following activities, allocated costs, and allocation bases:

VashaNatasha [74]

Answer:

Cost per letter for the correspondence activity= $ 8.75

Explanation:

Flannery Company

Given

Activities Allocated Costs Allocation Base

Account inquiry (hours)$ 77, 000 2,600 hours

Account billing (lines) $ 38, 000 19,000 lines

Account verification (accounts) $ 20,000 30,000 accounts

Correspondence (letters) $ 14,000 1, 600 letters

Activities Northeast Office Midwest Office

Account inquiry (hours) 100 hours 200 hours

Account billing (lines) 10,000 lines 9,000 lines

Account verification (accounts) 1 ,000 accounts 650 accounts

Correspondence (letters) 50 letters 110 letters

Calculations

Cost per letter for the correspondence activity= Total Correspondence/ Total No of letters

Cost per letter for the correspondence activity= 14000/1600= 8.75

Cost per letter for the correspondence activity= $ 8.75

We divide the activity cost with the corresponding cost driver to get the cost per unit of activity.

4 0

3 years ago