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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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Rocco earns $19.00 per hour for straight time (40 hours), and the company pays him time-and-a-half for overtime. he worked 49

hram777 [196]

The solution to get the gross pay for the week of Rocco;First we will calculate the straight time pay which is (40 x $19.00) = $760, second is the overtime pay which is (3 x $19.00 x 1.5) = 85.5, we will just add the straight time pay and overtime pay to get the gross pay and it is $845.5

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3 years ago

Stretch goals" can be described as

inn [45]

You can describe stretch goals as goals placed above the ones you need or strive to achieve, as a secondary objective. Think of achieving a stretch goal as doing even better than expected.

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3 years ago

The production of small consumer goods is referred to as?

AURORKA [14]

The correct answer is : light Industry

Since a light industry only produce small consumer goods such as clothes, shoes, hand made dolls, etc, it usually less capital oriented than the heavy industries and more consumer oriented than business oriented

8 0

3 years ago

The Deer Valley Farm (DVF) produces a natural organic fertilizer, which it sells mostly to gardeners and homeowners. The annual

Marizza181 [45]

Answer:

The Deer Valley Farm (DVF)

a. Optimum load size = 7,625 containers

Maximum fertilizer level at the farm = 5,500 containers

Total minimum cost = $189,110,200

b. No. Total inventory costs will increase.

Explanation:

a) Data and Calculations:

Annual demand for fertilizer = 220,000 pounds

Annual production units = 305,000 pounds

Inventory = 85,000 pounds

Cost to transport the fertilizer to and from the plant to the farm = $620

Each container holds = 40 pounds

Annual carrying cost per pound = $0.12

Optimum load size = 305,000/40 = 7,625 containers

Maximum fertilizer level at the farm = 5,500 containers (220,000/40)

Total minimum cost = $ ($620 * 305,000) + ($0.12 * 85,000)

= $189,110,200 ($189,100,000 + 10,200)

5 0

3 years ago

Susanne, the CEO of a national IT manufacturer, was approached by Simple Phones, a new company that is marketing a new type of p

Anika [276]

Answer:

Bounded rationality

Explanation:

Decision making is an important aspect of every man, However good decision making is guided by a lot of principles

Bounded rationality mean that human rational at the point of decision making is limited . It can be further explained by the principle that a number of factors like the available information ,mindset and even time can limit the decision making capacity of an individual.

This best define the situation confronting Susanne in the scenario.

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3 years ago