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
Nostrana [21]
3 years ago
12

Does the company need to prepare a journal entry relating to this item to adjust the book balance to the correct balance?

Business
1 answer:
natta225 [31]3 years ago
4 0

Answer:

1. The company's bank reconciliation on June 30 included outstanding checks that totaled $4,000 at June 30.  NO, SINCE THE CHECKS WILL EVENTUALLY BE CASHED BY THE PAYEES.

2. The company's bank reconciliation on June 30 included deposits in transit that totaled $3,000 on June 30.  NO, THE DEPOSITS WILL EVENTUALLY BE REGISTERED BY THE BANK.

3. The company's bank reconciliation on June 30 included a credit memorandum in the amount of $150 for interest.  YES, BECAUSE THIS TRANSACTION WAS NOT RECORDED BY THE COMPANY.

4. The company's bank reconciliation on June 30 included check #1221 (in payment of an select account payable) written for $4,900, but recorded in the accounting records as $4,090. YES, BECAUSE THE ACTUAL AMOUNT OF THE CHECK IS DIFFERENT THAN THE AMOUNT RECORDED.

You might be interested in
!. without asking, you help a coworker who is burdened by multiple and fast approaching deadlines.
PtichkaEL [24]
I believe it is C, hope this helps!!
8 0
3 years ago
If labor productivity growth slows down in a country, this means that the growth rate in ________ has declined.
Alik [6]

Answer:

The answer is letter C

Explanation:

The quantity of goods or services that can be produced by one hour of work

7 0
3 years ago
Jack recommends his new keurig coffee machine to his friend jill. jill buys her own keurig and loves it - studies show that she
Elza [17]
The effect that could be called to the given scenario above is the referral marketing. The referral marketing is a way of being able to promote products to customers, specifically new, with the use of referrals. It could be seen above as after Jack recommended it to Jill, Jill will now refer the product that she loves to another person that could be a potential new customer.
8 0
3 years ago
External factors in a SWOT analysis include the strengths and weaknesses of an organization.
Katarina [22]

Answer:

False

Explanation:

External factors in a SWOT analysis does not include the strengths and weaknesses of an organization.  The full meaning of SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. The Strengths and weaknesses are internal factors to an organization as they have management control over it and can be modify as well.

4 0
3 years ago
obinson Company had a net deferred tax liability of $34,000 at the beginning of the year, representing a net taxable temporary d
ZanzabumX [31]

Answer:

Robinson's deferred income tax expense or benefit for the current year would be $6,700

Explanation:

The computation of the deferred income tax expense or benefit for the current year is shown below:

= Deferred tax expense - adjustment of tax based on the tax rate

where,

Deferred tax expense = (Favorable temporary differences - unfavorable temporary differences) × corporate tax rate

= ($50,000 - $20,000) × 21%

= $6,300

And, the adjustment of tax equals to

= Net taxable temporary difference × (Tax rate - corporate tax rate)

= $100,000 × (34% - 21%)

= $13,000

Now put these values to the above formula  

So, the value would equal to

= $6,300 - $13,000

= $6,700

6 0
3 years ago
Other questions:
  • E15 3B (L0 1) (Stock Issued for Land) Twenty thousand shares reacquired by Sierra Land Inc. for $153 per share were exchanged fo
    6·1 answer
  • Professor hoffson maintains a very strict attendance policy in her introduction to business course at wayne college. for each un
    6·1 answer
  • The main idea in the making ethical decisions box "do we stay or do we go?" indicates: a need for firms to place a higher level
    5·1 answer
  • Bloomfield Bakers accounts for its investment in Clor Confectionary under the equity method. Bloomfield carried the Clor investm
    5·1 answer
  • Walker was gathering information on plasma and LCD TVs because he wanted to purchase one for his household. He bought several el
    11·1 answer
  • Parwin Corporation plans to sell 39,000 units during August. If the company has 16,000 units on hand at the start of the month,
    12·1 answer
  • Entity B bought equipment for $240,000 on January 1, 2021. It estimated the useful life to be 3 years with no salvage value, and
    14·1 answer
  • Barbara and the bank signed a contract in which they agreed that the bank would loan $100,000.00 to Barbara to buy a car. She wo
    12·1 answer
  • I think we should raise taxes for the wealthy so we can increase the public services.
    10·2 answers
  • Identify which method of overcoming objections did you use for each Boomerang. Question, Superior
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!