A bank reconciliation is a(n): Internal report prepared to compare the company's cash records with the bank statement report.
Bank reconciliation is the way in which the bank balance is compare with cash balance in order to detect and rectified any discrepancies or error.
Important of Bank reconciliation includes:
• It enables company's or organizations to know the actual position of their bank balanc
•It help to detect errors
•It help to detect fraud
•It help to prevent fraud
•It help to prevent embezzlement of money.
•It help to verify the accuracy of both the bank balance and the cash balance.
Inconclusion A bank reconciliation is a(n): Internal report prepared to compare the company's cash records with the bank statement report.
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Government decides what goods and services will be produced.
Answer:
$24,820
Explanation:
Given:
Periodic amount = $3,650
Number of period = 6
Interest rate = 5% = 5/100 = 0.05
Future value of annuity = ?
Computation of Future value of annuity :
![Future \ value = Pmt[\frac{(1+r)^n-1}{r} ]\\\\Future \ value = 3,650[\frac{(1+0.05)^6-1}{0.05} ]\\\\Future \ value = 3,650[\frac{(1.05)^6-1}{0.05} ]\\\\Future \ value = 3,650[\frac{1.34-1}{0.05} ]\\\\Future \ value = 3,650[\frac{0.34}{0.05} ]\\\\Future \ value = 3,650[6.8]\\\\Future \ value = 24,820\\\\](https://tex.z-dn.net/?f=Future%20%5C%20value%20%3D%20Pmt%5B%5Cfrac%7B%281%2Br%29%5En-1%7D%7Br%7D%20%5D%5C%5C%5C%5CFuture%20%5C%20value%20%3D%203%2C650%5B%5Cfrac%7B%281%2B0.05%29%5E6-1%7D%7B0.05%7D%20%5D%5C%5C%5C%5CFuture%20%5C%20value%20%3D%203%2C650%5B%5Cfrac%7B%281.05%29%5E6-1%7D%7B0.05%7D%20%5D%5C%5C%5C%5CFuture%20%5C%20value%20%3D%203%2C650%5B%5Cfrac%7B1.34-1%7D%7B0.05%7D%20%5D%5C%5C%5C%5CFuture%20%5C%20value%20%3D%203%2C650%5B%5Cfrac%7B0.34%7D%7B0.05%7D%20%5D%5C%5C%5C%5CFuture%20%5C%20value%20%3D%203%2C650%5B6.8%5D%5C%5C%5C%5CFuture%20%5C%20value%20%3D%2024%2C820%5C%5C%5C%5C)
Therefore, future value is $24,820
<span>entries for cash dividends required on Declaration date and the payment date.A payment date is the date on which a declared stock dividend is scheduled to be paid.</span>
Answer:
$(52)
Explanation:
Calculation to determine the net pension asset/liability reported in the balance sheet at the end of the year
First step is to calculate the Ending PBO using this formula
Ending PBO=(Asset Beginning balance)+(Service cost)+(Interest cost)+(Loss on PBO)+Retiree benefits
Let plug in the formula
Ending PBO = $(880) + ($78) + ($44) + ($8) + $81
Ending PBO= $(929)
Now let calculate the Net pension liability
Using this formula
Net pension liability=(Ending PBO)+Ending balance
Let plug in the formula
Net pension liability = $(929) + $877
Net pension liability= $(52)
Therefore the net pension liability reported in the balance sheet at the end of the year is $(52)
