Answer:
b. $6,240.
Explanation:
The reconciliation statement reconciles the bank statement balance to the cash book balance. The reconciled balance in the cash account is derived after considering all transactions that happened during the year that should have been recognized but were yet to.
Given the following Reconciling items;
deposits in transit, $2,600; This has been captured in the books and need not be adjusted for.
bank service charges, $140; This is yet to be recorded in the books hence it will be deducted from the cash balance.
outstanding checks, $950; This has been recognized in the books hence no further adjustments are required.
and interest credited to the bank account during the month but not recorded on the company’s books, $60.; This will be added to the cash balance
Hence reconciled balance
= $6,320 - $140 + $60
= $6,240
a gift of nature while capital is manufactured
The land is a purely natural resource whereas capital encompasses anything which has value., for example, money, gold, machinery etc. Also, we should note that land includes the ground on which we live, grow crops, build factories and houses, and it includes all the natural resources we use in production.
Answer: C. 15;5
Explanation: The answer is C. 15;5 because a long-term goal has to take longer than the short-term goal. In other words, the first number has to be bigger than the second number.