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Naddika [18.5K]
3 years ago
8

To arrive at an accurate balance on a bank reconciliation statement, a credit memorandum from the bank for the collection of a n

ote and interest should be
Business
1 answer:
Nutka1998 [239]3 years ago
6 0

Answer:

Must be added to the book balance.

Explanation:

The correct treatment would be to add this value to book balance because the bank has increased our bank balance by the note and interest amount. This must be accounted for as increase in the book balance because we have borrowed money and also that yearly interest income was also added to our bank checking account.

Hence it must be added to cash book balance in order to reconcile with the bank balance.

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Monetarists reject using discretionary monetary policy as an effective stabilization tool because they believe:_____.
WINSTONCH [101]

Monetarists reject using discretionary monetary policy as an effective stabilization tool because they believe the Fed will miss its money supply targets and make the economy worse.

Monetary policy is the macroeconomic policy set by the central bank. It involves the management of the money supply and interest rates, and is the demand-side economic policy adopted by national governments to achieve macroeconomic goals such as inflation, consumption, growth and liquidity.

Monetary policy is the action and communication of the central bank that controls the money supply. Central banks use monetary policy to prevent inflation, reduce unemployment, and promote moderate long-term interest rates.

Monetary policy refers to the measures taken by a country's central bank to control the money supply in order to stabilize the economy.

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3 0
1 year ago
The owners of Old School Brand Authentic Antique Foods researched Civil War records to come up with recipes used for the old-fas
andreyandreev [35.5K]

Answer:

Product

Explanation:

Marketing mix involves four elements

a. product

b. price

c. place

d. promotion

The statement given indicates that the recipe of cookies focuses on the product element of marketing mix.

6 0
2 years ago
Pola and quint want to form and do business as river tours corporation. a corporation can consist of?
Tpy6a [65]

'Pola and quint want to form and do business as river tours corporation. a corporation can consist of one or more natural persons.

A corporation is an organization (usually a group of people or a legal entity) authorized by the State to act as a single entity and legally recognized as such for a specific purpose. Early incorporated entities were established by charter. Most jurisdictions now allow the formation of new companies through registration.

The company is managed and directed by its directors and officers. Directors are appointed by shareholders and are responsible for the overall management and corporation governance of the company. The directors appoint officers who are responsible for the day-to-day management and operations of the company.

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4 0
1 year ago
Ngân hàng thương mại có tỷ lệ an toàn vốn tối thiểu là 8% và tỷ suất sinh lời trên tài sản có hằng năm như sau : năm 1998 có ROA
Luda [366]

Answer:

???????

Explanation:

8 0
3 years ago
You have the following information for Waterway Industries for the month ended October 31, 2022. Waterway uses a periodic method
Sidana [21]

Answer:

Waterway Industries

A) The weighted-average cost is $28.527

B) Ending Inventory, cost of goods sold, gross profit:

                                     (1) LIFO          (2) FIFO          (3) Average-cost

Ending Inventory:          $2,660           $3,060               $2,853

Cost of goods sold:      $7,895            $7,495               $7,702

Gross profit:                  $3,780            $4,180               $3,973

Explanation:

a) Data and Calculations:

Date        Description              Units   Unit Cost Selling Price Total

Oct. 1      Beginning inventory   70        $26                            $1,820

Oct. 9     Purchase                   125          28                              3,500

Oct. 11     Sale                           (95)                         40                         $3,800

Oct. 17    Purchase                    95          29                             2,755

Oct. 22   Sale                           (70)                         45                            3,150

Oct. 25   Purchase                   80           31                             2,480

Oct. 29   Sale                         (105)                         45                           4,725

Oct. 31   Ending inventory      100    

Total: Goods available           370                                       $10,555

         Goods sold                  270                                                        $11,675

Weighted-average cost = Cost of goods available/Units available

= $10,555/370 = $28.527 per unit

Periodic method:

LIFO:

Ending inventory:

Oct. 1      Beginning inventory   70        $26  $1,820

Oct. 9     Purchase                     30          28       840

Total Ending inventory =          100               $2,660

Cost of goods sold = Cost of goods available - Ending inventory

= $10,555 - $2,660 = $7,895

Sales Revenue         $11,675

Cost of goods sold     7,895

Gross profit               $3,780

FIFO:

Ending inventory:

Oct. 17    Purchase                    20          29       $580

Oct. 25   Purchase                   80           31       2,480

Total Ending inventory =        100                   $3,060

Cost of goods sold = Cost of goods available - Ending inventory

= $10,555 - $3,060 = $7,495

Sales Revenue         $11,675

Cost of goods sold     7,495

Gross profit               $4,180

Average-cost:

Ending Inventory = $2,853 ($28.527 * 100)

Cost of goods sold = Cost of goods available - Ending inventory

= $10,555 - $2,853 = $7,702

Sales Revenue         $11,675

Cost of goods sold     7,702

Gross profit               $3,973

7 0
2 years ago
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