Answer:
See explanation for all the requirements.
Explanation:
Requirement A
Mathers Co.
Bank Reconciliation
July 31
Cash balance according to bank statement $
24,000
Add: deposit in transit $3,680
Deduct: outstanding checks <u> (4,590)</u>
Adjusted balance $23,090
Cash balance according to company's records $22,600
Add: Error in records payments (710-170) $540
Less: Bank charge <u> ($50)</u>
Adjusted balance $23,090
Requirement B and C
B. If the balance sheet is prepared for Mathers Co. on July 31, $23,090 should be reported for cash.
C. It is a necessary procedure for a bank and an individual or an organization to adjust the bank balance and book balance to avoid any kind of errors. Therefore, reconciliation is always significant. A bank must always do a reconciliation.
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Answer:
Increase.
Explanation:
The question above refers to auto insurance premium, which is a system that, through a monthly payment, allows an insurer to provide financial support to car owners as a form of security in case of accidents or injuries during driving. .
Many people do not know, however, under contracts with car insurers, smaller deductibles cause the premium to increase, making the individual responsible for insurance need to pay a higher monthly amount. A higher deductible, on the other hand, would reduce the value of the premium. In this case, we can say that if Deon chooses a lower deductible, he will have the high premium.
The first one will be c and the second one will be b
Answer: True
Explanation:
A small business loan is known to be a loan given to an individual in order to start a business. The loan is used for running the day today activities of the business. The borrower that is the business owner reaches an agreement with the lender to repay the loan with interest over a specified period of time.
