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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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One of the most important features of a filing and record keeping system is that it works for you and meets your needs true or f
MA_775_DIABLO [31]

Answer:

True

Explanation:

In record keeping using the filling method, it is done in-order to keep track of all the important documents and information regarding to the company. <em>This record keeping system could employ the manual method or writing with hand or the electronic method of storing such information using the computer or other electronic device.</em>

7 0
3 years ago
"A proposed new project has projected sales of $201,000, costs of $93,000, and depreciation of $25,400. The tax rate is 22 perce
Neko [114]

Answer:

Cash Flow = $89,828.

Explanation:

Detail is given in the picture attached.

5 0
3 years ago
What type of information system would a chain of theaters use to sell<br><br> tickets?
FinnZ [79.3K]

Answer:

transaction processing system

8 0
3 years ago
Avicorp has a $ 12.9 million debt issue​ outstanding, with a 5.9 % coupon rate. The debt has​ semi-annual coupons, the next coup
zloy xaker [14]

Answer:

a)

Pre-tax Cost Of Debt = 7.64%

b)

Tax Rate = 40%    

Post Tax cost of debt = 7.33% * (1 - 40%) = 4.58%  

So Post Tax cost of Debt = 4.58%

Explanation:

Bond Par Value =  12,900,000  

Bond Market Price 93% of face value = 11,997,000  

Years To maturity = 5.00  

Annual Interest 5.9% = 761,100

Formula = [Annual Interest + (Par Value-Market Value) / Years to Maturity] / [(Par value+Market Price*2)/3]

Year To Maturity = [761100 + (12900000 - 11997000) / 5] / (12900000 + 2*11997000) / 3

Year to maturity = 7.33%

8 0
2 years ago
Petras Company engaged in the following transactions during 2012, its first year in operations: (Assume all transactions are cas
Oksana_A [137]

Answer:

The net cash inflow from financing activities on Petras's 2013 statement of cash flows is $5. So, the correct option is A.

Explanation:

Petras Company

Statement of cash flows (extract)

Proceed from the issue of common stock              $325

Repayment of outstanding debt                            ($220)

Dividends paid                                                         ($100)

Net cash inflow from financing activities                    $5

Note that earned revenues and incurred expenses would form the net income used under operating activities section of the cash flows.

The prior year values for there for comparative purpose only.

5 0
2 years ago
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