How can u prove that the traditional technology is the foundation of modern technology short answer

In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larg

never [62]

The statement is true.

In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larger than the amount of the check is added to the balance per the company's records because the excess amount would be reduced from the bank balance in the company's records, So the company books are not correct. To make them correct the excess amount should be added back to the balance as per the company's records.

For example, if the check amount was 500 but the company recorded it as $550. Then means that the company records show $50 less compared to the bank statement. Therefore, that $50 is added back and then it comes equal to the bank statement balance.

When a note is written to settle open account an entry that converts the accounts receivable account to a note receivable account is required. This entry is required because when the note is written to settle accounts the company has to receive notes in the future and the amount of the account.

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In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larger than the amount of the check is added to the balance per company's records.

TRUE

FALSE

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6 0

1 year ago

Which of the following is not part of the flow of events in variance analysis?

IgorC [24]

Answer:

e. Working to ensure that all variances are favorable.

Explanation:

the steps in effective management of variance analysis

Identifying questions and their explanations

Preparing standard cost performance reports

Taking corrective and strategic actions

Computing and analyzing variances

So the option is E.

Working to ensure that all variances are favorable.

7 0

3 years ago

Lithium, Inc. is considering two mutually exclusive projects, A and B. Project A costs $95,000 and is expected to generate $

Flauer [41]

Answer: The internal rate of return for project A is $26,074.38

Explanation:

Using the formula

R1/(1+K)^1 R2/(1+K)^2+ - - - Rn/(1+K)^n -

C =0

Where C = capital outlay, K=Rate of interest, R=Net cash flow

Given that K=10%, (10/100)=0.1 R1=$65,000, R2=$75,000 C =$95,000

Project A

65,000/(1+0.1)^1 + 75,000/(1+0.1)^2 - 95,000

65,000/(1.1)^1 +75,000/(1.1)^2 - 95,000

59090.91 + 61983.47 - 95,000

121074.38 - 95000

= $26,074.38

Project B

R1=$64,000, R2=$67,000,R3=$56,000, R4=$45,000 C =$120,000

64,000/(1+0.1)^1+ 67,000/(1+0.1)^2+ 56,000/(1+0.1)^3 + 45,000/(1+0.1)^4 - 120,000

64,000/(1.1)^1 + 67,000/(1.1)^2 + 56,000/(1.1)^3 + 45,000/(1.1)^4 - 120,000

58181.82 + 55371.90 + 42073.63 + 30735.61 - 120,000

= 186362.96 - 120,000

= $66,362.96

4 0

3 years ago

explain the role of beliefs, customs and attitudes in communication and how it acts as an input communication

lidiya [134]

Answer and Explanation:

An individual's customs beliefs and attitudes are directly related to the culture to which they belong and that culture is able to determine the forms of communication that an individual can present, showing how to behave and how to start a communication. Thus, these factors determine the beginning and the entire development of input comunication, as well as the elements that compose it.

3 0

3 years ago

Which of the following most accurately states the economic significance of exchange? a. Physical goods have value because they e

Annette [7]

Answer:

c. Exchange creates value by moving goods from parties who value them less to parties who value them more.

Explanation:

Exchange is described as the process of changing some goods for some other goods.

Exchange clearly provides you with the goods you value for, and in exchange for those goods you pay the goods you do not value.

This, results in adding value to the goods acquired by you, and adds value to the goods given by you for the person to whom it is exchanges.

As for example when a cloth is purchased by me for $100 then such adds the value to cloth and because it was worth less than $100 for the seller it has added value to the cloth.

6 0

3 years ago

How can u prove that the traditional technology is the foundation of modern technology short answer​

How can u prove that the traditional technology is the foundation of modern technology short answer