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Zigmanuir [339]
3 years ago
10

Spielberg Company's general ledger shows a checking account balance of $22,970 on July 31, 2021. The July cash receipts of $1,88

5, included in the general ledger balance, are placed in the night depository at the bank on July 31 and processed by the bank on August 1. The bank statement dated July 31 shows bank service fees of $55. The bank processes all checks written by the company by July 31 and lists them on the bank statement, except for one check totaling $1,460. The bank statement shows a balance of $22,490 on July 31.
Prepeare a bank reconciliation to calculate the correct ending balance of cash on July 31, 2021.
Business
1 answer:
zhuklara [117]3 years ago
3 0

Answer:

Debit Balance as per Cash Book - i - ii + iii = Credit Balance as per Passbook.

Explanation:

Bank Reconciliation Statement is a statement drawn at the end of accounting period, to adjust the mismatch between bak balance as per cashbook & passbook.

Debit Balance as per Cash Book = $ 22970

Less : Receipts added in cashbook, but not passbook = (1885)

Less : Bank service fee deducted from passbook, not cashbook = (55)

Add : Cheques written but not deducted from passbook = 1460

Credit Balance as per passbook = $ 22490

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Jones Retail. had the following balances and transactions during 2017:
Elina [12.6K]

Answer:

B $1,625

Explanation:

The computation of the ending inventory based on the lower-of-cost-or-market value is shown below:

The ending inventory units = Beginning inventory + purchase of inventory - selling units

= 15 units + 35 units - 25 units

= 25 units

So, the cost of ending inventory = ending inventory units × purchase price

= 25 units × $84

= $2,100

And, the market value equal to

= ending inventory units × replacement cost

= 25 units × $65

= $1,625

Based on the lower-of-cost-or-market value, the ending inventory would be $1,625

7 0
3 years ago
Most formula products for infants contain Select one:
N76 [4]

Most formula products for infants contain lactose, heat-treated cows' milk protein, and vegetable oils.

Option A

<u>Explanation: </u>

Pure cow's milk, casein as well as other additives depending on the manufacturer is the most widely used baby food formula, as a source of protein, a combination of vegetable oils, a starch supply lactose, a vitamin-mineral mixture and others.

Additionally, in the Americas and in Britain, infant formulations use soybeans as a protein source (mainly) and protein hydrolyzes in its amino acid portion for infants sensitive to many other proteins are available.

In many countries, breasts have risen and, in the average life expectancy of adoption of baby foods (such as cow's milk), infant formulas have been delayed, due to both an increased breasts and decreased use of the formula around 3 and 12 months of age.

4 0
3 years ago
To get a complete picture of your target market, you must do Question 2 options: door-to-door surveys. primary research. seconda
WITCHER [35]
Primary research To get a complete picture of your target market,
3 0
3 years ago
Read 2 more answers
Which of the following is an example of a capital market instrument? Group of answer choices Banker's acceptances. Commercial pa
stealth61 [152]

Answer:

Preferred stock

Explanation:

The capital market instruments refer to the instrument that involves stock, bonds, debentures, the preferred stock that deals in the securities and come under the capital

Also, the other options that are mentioned are the money market examples

Therefore the correct option is preferred stock and the same is to be considered

8 0
3 years ago
Meeting the spending targets in this budget meant some very difficult choices. —president barack obama, 2012 budget message of t
Ostrovityanka [42]

The meaning of making "difficult choices" when creating a federal budget is: D. deciding what will be funded and what will be cut.

<h3>What is a federal budget?</h3>

A federal budget refers to a financial plan that is typically used by the government for the estimation of the revenue (taxation) and expenditures (spending) of a country over a specified period of time, which is often one year.

This ultimately implies that, making "difficult choices" when creating a federal budget simply means to decide what will be funded by the government and what will be cut from the budget.

Read more on budget here: brainly.com/question/13964173

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5 0
2 years ago
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