Answer:
Given that,
Company's bank reconciliation at June 30 included interest earned = $150
So, it must be cash must be debited and interest revenue must be credited in the accounts.
Therefore, the journal entry is as follows:
Cash A/c Dr. $150
To Interest revenue $150
(To record the interest revenue earned)
Answer:
C. Required reserves decrease by $20.
D. Outstanding liabilities decrease by $200.
A. Required reserves increase by $65.00.
D. Outstanding liabilities increase by $650.
Explanation:
<u>PART I:</u><u> The withdrawal from the checking accounts:</u>
makes the required reserves to decrease as there is less cash deposists.
Also, the bank no longer has the obligation to give this 200 dollars to Shantee thus, otstanding liabilities decrease by 200 as well:
checking deposits 200 debit
cash 200 credit
<u>PART II:</u><u> Deposit in a checking account</u>
This is the opposite. The bank reserve must increase by 10% of the deposit
650 x 10% = 65
And the outstanding liaiblities increase by the full amount as later the bank will give back 650 dollars to Dalon in the future.
Answer and explanation:
The budgeted balance sheet is an accounting report stating the current period's initial balance for each account according to the results of the previous period. After that, managers consider the investment and expenditure plans for the current period to schedule the company inflows and outflows. Finally, government policies are taken into consideration to find out how they can affect the company's projection in the short and long run.
The answer you're looking for is "Share." Hope this helps!
Answer:
provisions / accruals
Explanation:
see above in the answer, both mean basically the same but in insurance terms accrual is more correct
