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svetoff [14.1K]
3 years ago
13

"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.

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While shopping for back-to-school clothes, Josie uses apps on her smartphone to comparison shop, and to obtain coupons and fashi
fenix001 [56]

Answer: The answer would be d-technological

Explanation:

5 0
3 years ago
A deposit of $100,000 is made to an investment account today. At the end of each of the next four years, $10,000 must be paid ou
andrey2020 [161]

Answer:

14.06%

Explanation:

Assume their is a cash out flow today of $100000, and next four year annual cash inflow of 10000 and 120000 at the end of year 4.

We can use IRR formula to find the interest rate.

year                            cashflow

0                                   -100000

1                                      10000

2                                     10000

3                                     10000

4                                     130000

IRR                                 14.06%

The calculation has been done on excel sheet

8 0
3 years ago
Easton Co. deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of busines
Yuri [45]

Answer:

Adjusted cash balance is $ 60,224.

Explanation:

Detailed steps of solution are below

6 0
3 years ago
Managerial accounting is an activity that helps managers determine costs of products and services, plan future activities, and c
Elenna [48]

Answer:

True.

Explanation:

Managerial accounting involves managers using accounting information to better inform themselves before making business decisions. It involves analysing, interpreting and communicating financial data to managers to aid in achievement of organisation's goals.

Managerial accounting is for internal use in the business. Data is modified to meet specific need of the end-user. For example a manager may want to see sales figures for a quarter compared to business target. This will give an idea if the business is meeting it's objectives.

4 0
3 years ago
Martinez Company uses flexible budgets to control its selling expenses. Monthly sales are expected to range from $166,900 to $19
kolezko [41]

Answer:

<u>monthly flexible budget for each $11,100 increment </u>

Sales                                                               $11,100

Less Sales Commissions ( $11,100 × 6%)       ($666)

Net Sales                                                       $10,434

advertising ( $11,100 × 5%)                              ($555)

traveling ( $11,100 × 4%)                                  ($444)

delivery ( $11,100 × 2%)                                   ($222)

Net Income                                                     $9,213

Explanation:

Consider Only the incremental costs and revenues.Fixed costs are not relevant for the $11,100 increment

<u />

4 0
3 years ago
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