Answer:
bank statement 56,300
Checks outstanding (25,390)
Deposit in transit not recorded by bank<u> 13,325 </u>
Adjusted bank statement 44,235
Cash account 42,920
Bank debit memo for service charges (35)
check register error: <u> 1,350 </u>
Adjusted cash account 44,235
Explanation:
The procedure is to adjust for the unknow information and mistake of each party.
The bank is unaware of the check outstanding and deposit in transit
The company thanks to the banbk statement gets information about a mistake in his check register as it was posted for 1,500 when it should be 150.
Answer:
The difference is attributed to sales.
Explanation:
The difference of $10 will be attributed to sales because $20 is charged instead of $30 which means selling price has been changed. However, it cannot be considered as a loss because the cost price is not given. It might be the actual cost price for the item is $15 and the store is selling at $20 instead of $30. So, in this case, the store is making a profit of $5. Thus, the difference is considered as the sale difference.
Answer:
violates the matching principle
Explanation:
The direct write-off method is an accounting method for recognizing bad debts expense arising from credit sales when individual invoices has been identified as uncollectible.
In Accounting, one of the weaknesses of the direct write-off method is that it violates the matching principle.
The direct write-off method is a method of accounting for uncollectible receivables.
The right answer for the question that is being asked and shown above is that: "<span>Brian has some understanding of budgeting. However, a budget does not create more money each month. It just helps him use his money better." That is the best answer among the choices.</span>
<span>Alice had original amount = $12,450. She earned an interest of $622.50 on the original amount. To find the percent, say, $622.50 = x% of $12,450, we get x% = 0.05 or x = 5%. Thus, Alice earned approximately 5% of the interest.</span>
