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Nostrana [21]
4 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]4 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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Elizabeth is considering how to structure a project team that will not directly disrupt ongoing operations. The project needs to
stich3 [128]

Answer: E. Projectized

Explanation:

Projectized organization is a type of organization in which the project manager is backed up to make decisions that as to do with the project. In such an organization the project manger is at the top rank and every other person in the organization reports directly to the project manager especially when it as to do with a project. Based on the capacity the project manager holds, he can assign or allocate priorities, direct work and resources for a project.

8 0
3 years ago
What country leads the world in coconut production?
Lady_Fox [76]

Answer:

Indonesia

Explanation:

6 0
3 years ago
Foster Gardening manufactures and sells garden supplies. Last month, Foster had a controllable margin of $1.6 million, which was
Tanya [424]

budget variance was the difference in ROI between the budgeted and actual amounts

<h3>What is budget variance?</h3>

A budget variance is an accounting term that refers to situations in which actual costs are higher or lower than the standard or projected costs. An unfavorable, or negative, budget variance indicates a budget shortfall, which can occur when revenues fall short or costs exceed expectations.

Typically, variance reports are used to examine the gap between budgeted and actual performance. Depending on the financial outcomes being compared, the variance report may also be referred to as "budget variance" or simply "variance." The difference between the budgeted/baseline goal and the actual reality is referred to as "variance."

Budget variance equals the difference between the budgeted amount of expense or revenue, and the actual cost.

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4 0
2 years ago
An Income Statement is comprised of Revenues and
Alex

Answer:

expenses

Explanation:

8 0
3 years ago
The following information relates to Ivanhoe Co. for the year ended December 31, 2020: net income $1,180 million; unrealized hol
QveST [7]

Answer:

a. Other Comprehensive income for 2020 = Unrealized holding loss = -$9.9 million

b. Comprehensive income for 2020 = Net income - Unrealized holding loss = $1,180 million -$9.9 million = $1,170.1 million

c. Accumulated other comprehensive income at December 31, 2020 = Accumulated other comprehensive income - Other Comprehensive income for 2020 = $55.2 million -$9.9 million = $45.3 million

5 0
3 years ago
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