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Snowcat [4.5K]
2 years ago
15

Explain the importance of reconciling the bank at set dates

Business
1 answer:
zmey [24]2 years ago
8 0

Answer:

The goal of the bank reconciliation process is to find out if there are any differences between the two cash balances. ... A monthly reconciliation helps to catch and identify any unusual transactions that might be caused by fraud or accounting errors, especially if your business uses more than one bank account.

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A registered representative sells 1,000 shares of ABC for a customer at $30 per share, the current market price, with instructio
den301095 [7]

Answer:

is right and the registered representative must reimburse the total proceeds from the transaction.

Explanation:

The customer's 1,000 shares "multiplied" to 1,500 shares since ABC split its stock. For every 2 ABC stocks, the stockholders received 3, and the customer should receive (1,000 / 2) x 3 = 1,500. The total value of the customer's stock didn't change since each stock instead of selling at $30, is now worth $20. The problem is that the RR paid the customer only for the original 1,000 stocks, not the 1,500.

4 0
3 years ago
Which element of internal control deals with establishing procedures for things such as handling of incoming checks, and which e
inna [77]
There are five elements in Internal Control of an organization. In establishing procedures for the handling of incoming checks belongs to the element Policies and Procedures and the element that deals with the oversight of the internal control system is the Risk Assessment.
4 0
3 years ago
Read 2 more answers
Anna Prentice has worked for years fixing broken typewriters. She is laid off from her job as fewer and fewer people use typewri
fenix001 [56]

Answer:

1. structural unemployment 

Explanation:

Structural unemployment is a form of unemployment that occurs when there's a mismatch between labour's skills and the available jobs. It occurs as a result of technological change.

Anna is unemployed because she can't get a job in her field. Therefore she's structurally unemployed.

Frictional unemployment occurs between the time labour leaves his current employment and the time he finds another one.

Cyclical unemployment is when employment level changes with the business cycle. It rises during a downturn and falls during a upturn.

I hope my answer helps you

4 0
3 years ago
The beginning and ending balances of retained earnings for the year were $30,000 and $35,000 respectively. If dividend payments
Keith_Richards [23]

Answer and Explanation:

The computation of the net income or loss for the year is shown below:

As we know that

Ending retained earnings balance = beginning retained earning balance + net income or net loss - dividend paid

$35,000 = $30,000 +  net income or net loss - $13,000

$35,000 = $17,000 + net income or net loss

So, the net income or net loss is $18,000

This is an answer but the same is not provided in the given options

7 0
3 years ago
Your friend Michelle is starting a fitness center that specializes in helping people get in shape through exercise and eating he
poizon [28]

Answer:

$7,875.00.

Explanation:

7 0
3 years ago
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