Answer:
$7,999.54
Explanation:
The bank reconciliation is one done between the balance per the books and balance per the bank statement. This is usually as a result of transactions known as reconciling items.
These are items that have either been recognized in books but yet to be recorded by the bank or vice versa, transactions recorded wrongly by one of the parties etc.
To correctly adjust the book balance, items recognized in the bank statement that are yet to be recorded in the books are done.
The adjusted balance
= $5,559.10 + $499.88 + $1,256.45 + $750.99 - $66.88
= $7,999.54
Answer:
The correct answer is (c)
Explanation:
Bonds and stocks are used to generate financing. The city of Fargo has issued bonds to finance the construction of a new fire station. The bond is a type of debt funding and the premium must be transferred to a debt service fund. A debt service fund will be used to pay out the principal payments on those bonds.
Answer:
1,000 long term capital gain
Explanation:
Answer:
A. revenue and expense
Explanation:
An income statement is among the three important financial statements prepared by a business entity. It summarizes all incomes (revenues) and expenses (costs) of a company in a particular financial year. Total costs are subtracted from the total revenue to get the net income.
An income statement is prepared to show the profits of a business in a particular financial year. A positive net income indicates profits, while a negative net income denotes losses.
Answer:
$5,000
Explanation:
Given that,
Direct material cost = $2,000
Direct labor cost = $3,000
Prime cost is the sum total of direct material and direct labor cost.
Prime cost:
= Direct material cost + Direct labor cost
= $2,000 + $3,000
= $5,000
Therefore, the prime cost is $5,000.
Note:
Table is missing from the question so I have attached the table.
