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3 years ago

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.

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Within organizations, leaders are needed to ________ and managers are needed to ________.

velikii [3]

Pay , work hope this helped you have a good day

4 0

3 years ago

In a given amount of time John can produce either 40 pounds of vegetables or 10 pounds of chicken. In the same amount of time Ge

aleksandrvk [35]

Answer:

Ten pounds of chicken to trade for at least 40 pounds of vegetables but not more than 50 pounds of vegetables

Explanation:

Vegetables Chicken Trade Off Ratio

John 40 10 4:1 (40/10) or 1:0.25 (10/40)

George 25 5 5:1 (25/5) or 1:0.20 (5/25)

John has comparative advantage in Chicken and George has comparative advantage in Veggies because :

John's chicken opportunity cost, in veggies < George (4<5). George's veggies opportunity cost, in chicken < John (0.20<0.25).
George is more (5X) productive in veggies than chicken, than John (4X). John is less unproductive in chicken than veggies (1/4th), compared to George (1/5th).

So, John will sell Chicken to George & George will sell veggies to John. Gains from trade are when each get trade ratio better than their their own trade off ratio.

It implies: John gets >' 4 pounds veggies per chicken pound' and George gets > '0.20 pound chicken per veggie pound'.
Unitary method:- '1chicken : 4veggies' = '10chickens : 40veggies' and '0.20chicken : 1veggie' = '10chickens : 50 veggies' .

7 0

2 years ago

If the majority of service customers are satisfied, it is likely that all service customers will be satisfied.

Dafna1 [17]

If the majority of service customers are satisfied, it is likely that all service customers will be satisfied. False

Customer service is the provision of service to customers before, during, and after purchase. This makes it an important part of the customer's value chain. Different industries require different levels of customer service [1], but ultimately, the idea of a well-delivered service is to increase revenue. Awareness of a successful customer service interaction depends on employees who are “adaptive to the customer's personality”. [2] Customer service is often practiced in a way that reflects the company's strategy and values. Good customer service is usually valued by customer loyalty. Customer service is part of a company's intangible assets for some companies and can differentiate them from others in their industry. A great customer service experience can change a customer's overall perception of your company. [3]

Good customer service means consistently meeting customer expectations. Good customer service is fast, easy, personal, and caring. Companies that provide excellent customer service take the time to understand the needs of their unique customer base. J.

Learn more about service customers here

brainly.com/question/1286522

#SPJ4

7 0

1 year ago

The seller of the property is including the refrigerator and window coverings with the sale. Where in the offer to purchase is t

expeople1 [14]

Answer: The correct answer is "In the inclusions section of the contract ".

Explanation: The refrigerator and window covers are taken into account in the "contract inclusions" section because this section includes all items included in the sale that do not correspond to be sold as personal property.

6 0

2 years ago

Xinghong company is considering replacing one pf its manufacturing machines. The machine has a book value of $44000 and a remain

Artist 52 [7]

Answer:

1. Decrease in Net Income of -$8,500

2. Increase in Net Income of $50,500

3. Replace the old machine with Alternative B

Explanation:

Alternative A

Cost to Buy New Machine -$117,000

Cash received to trade in old machine $54,000

Reduction in Variable Manufacturing Costs (($33,600*5 years ) - (22,700*5 years )) $54,500

Total change in Net Income -$8,500

Alternative B

Cost to Buy New Machine -$118,000

Cash received to trade in old machine $54,000

Reduction in Variable Manufacturing Costs (($33,600*5years ) - (10,700*5 years )) $114,500

Total change in Net Income $50,500

3. Replacing the old machine with alternative B will result in an increased income of $50,500 so it is a good option.

5 0

3 years ago