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Yuri [45]
3 years ago
8

For each of the items indicate whether its amount affects the bank or book side of a bank reconciliation and is an addition or a

subtraction in a bank reconciliation and whether an adjusting journal entry is required:
a. Unrecorded deposits
b. Interest on cash balance
c. Bank service charges
d. Debit memos
e. Outstanding checks
f. Credit memos
g. NSF checks
Business
2 answers:
gulaghasi [49]3 years ago
8 0

Answer:

The correct answer is:

a)  Unrecorded deposits : bank addition

b)  Interest on cash balance : book addition

c) Bank service charges : book subtraction

d) Debit memos : book subtraction

e) Outstanding Checks : bank subraction

f)  Credit memos : book addition

g) NSF checks : book subtraction

Do unrecorded deposits require an adjusting journal entry?  No

Does interest on cash balance require an adjusting journal entry?  Yes

Do bank service charges require an adjusting journal entry?  Yes

Do debit memos require an adjusting journal entry?  Yes

Do outstanding checks require an adjusting journal entry?  No

Do credit memos require an adjusting journal entry?  Yes

Do NSF checks require an adjusting journal entry?  Yes

ipn [44]3 years ago
7 0

Answer:

a. Unrecorded deposits  - This affects the bank side of the  reconciliation. it may be added to the bank balance or subtracted from the book balance to reconcile both. This is however not an adjusting entry in the books.

b. Interest on cash balance  - This affects the books side as the transaction would have been recorded by the bank. It is an addition to the book side balance or a subtraction from the bank side. An adjusting journal entry is required.

c. Bank service charges  - This affects the book balance side of the reconciliation. It is a subtraction to the book side balance or an addition to the bank side. An adjusting journal entry is required.

d. Debit memos  - This is a deduction from the bank balance in the bank statement and as such, a deduction is needed to the book side in the reconciliation. This requires adjusting journal entry

e. Outstanding checks  - This affects the bank side  of the bank reconciliation. It is a subtraction from the bank balance in the reconciliation. This does not require adjustments or adjusting journal entries.

f. Credit memos  - This is an addition to the bank balance in the bank statement and as such, an addition is needed to the book side in the reconciliation. This requires adjusting journal entry

g. NSF checks -  This is an addition to the book side in the reconciliation. It affects the book side of the reconciliation. An adjusting journal entry is required.

Explanation:

Unrecorded deposits are deposits that have been recorded in the books but are yet to be recorded by the bank. Such items require no further adjustments in the books.

Interest on cash balance are reconciling items that have been recorded as credits by the bank but yet to be recorded as debits in the books. As such, the book side are debited to recognize this.

Bank service charges like interest on cash balance are transactions that have been recognized in the bank but yet to be recorded in the cash book. This is a reduction in cash balance and hence should be credited or subtracted in the books.

Debit and credit memos are withdrawals and deposits in the bank statements that are yet to be recognized in the books.

NSF checks are checks that have been deducted from the books but not honored by the bank due to insufficient balance.

Outstanding checks are checks recorded as deductions from the ledger but yet to be recognized by the bank.

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Answer:

very few hierarchical levels

Explanation:

According to my research on different company organizational structures, I can say that based on the information provided within the question Herman Miller is most likely an organization that has​ very few hierarchical levels. This is since it is mentioned that the employees are placed in teams that are not higher or lower in rank from one another, but at the same time there is still a boss of the company. Therefore there are hierarchical levels but they are extremely few.

I hope this answered your question. If you have any more questions feel free to ask away at Brainly.

4 0
3 years ago
When this market is in equilibrium, price is $ $6 and quantity bought and sold is 300 units. In equilibrium, consumer surplus is
Gnom [1K]

Answer: hello your question is incomplete attached below is the missing information

Answer :

$900

$600

<u>Given the new price of $4 by Government </u>

quantity demanded = 400 units

quantity supplied = 150 units

quantity bought and sold = 150 units

  • $975
  • $150
  • $375

Explanation:

Consumer surplus ( area below demand curve and above $300  

= Area of triangle = 0.5 * base * height

= 0.5 * 300 ( 12 - 6 )  = $900

producer surplus ( area above supply curve and below $300

=  Area of the triangle = 0.5 * 300 ( 6-2 ) = $600

<u>Given the new price of $4 by Government </u>

quantity demanded = 400 units

quantity supplied = 150 units

quantity bought and sold = 150 units

Consumer surplus ( area of triangle + area of rectangle )

= 0.5 * 150 * ( 12-9 )+ L*B

= 0.5 * 150 * ( 3 ) + 150 * ( 9 - 4 )  = $975

producer surplus ( Area of triangle )

= 0.5 * 150 * (4-2) = $150

deadweight loss ( area of triangle )

= 0.5 * ( 300 - 150 ) ( 9-4 )

= $375

6 0
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a. The owner invested $18,000 cash in the company in exchange for its common stock. b. The company purchased supplies for $1,250
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Answer:

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Answer:

E. It may encourage a sense of entitlement among employees.

Explanation:

Above the market, compensation in the form of wage strategy in which the organizations initiates high salaries to the employees. High salaries are provided to the employees to attract them and to retain them in the team. This is done to maintain the caliber of the group and for the smooth flow among the team members.

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The ABC Auto Supply Company of Burlington, Vermont, uses an e-commerce software program on its Web site to allow customers such
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Answer:

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