Answer:
Option A (yes to flexible budget and yes to standard costing)
Explanation:
A flexible budget helps to determine the total output needed to reach a certain amount of profit, and the company can also determine a different output level depending on current market conditions.
The two main advantages of using a standard costing method is that cost control is improved and more information is available so that management can make better decisions.
Answer:
correct option is $2,000 tax refund
Explanation:
given data
gross tax liability = $9,000
tax credits = $3,000
taxes withheld = $8,000
solution
we get here taxes due with tax return that is express as
tax refund = Gross tax liability - tax credits - taxes withheld ..........................1
put here value we will get tax refund
tax refund = $9,000 - $3,000 - $8,000
tax refund = $2,000
so correct option is $2,000 tax refund
Answer:
It is called an exchange.
Explanation:
The secondary market is where investors buy and sell securities they already own. It is what most people typically think of as the "stock market," though stocks are also sold on the primary market when they are first issued. The national exchanges, such as the New York Stock Exchange (NYSE) and the NASDAQ, are secondary markets.
Answer and Explanation:
The preparation of the bank reconcilliation statement is presented below:
<u>Bank Books</u>
Balance $9,089.55 $8,112.62
Add: deposit in transit $3,358.19 Add: note payable borrowed $3,000
Less: outstanding checks $1,251.12 Add: error in recording $963
Add: error by bank $215 ($1,070 - $107)
Less: bank charges $15
Less: NSF check $640
Updated balance $ 11,420.62 Updated balance $ 11,420.62
The journal entries are shown below:
On July 31
Cash $3,000
To Notes payable $3,000
(Being note payable is recorded)
Cash
$963
To Repair expenses $963
(being error is recorded)
Bank charges $15
To Cash $15
(Being cash paid is recorded)
Account receivables $640
To Cash $640
(Being cash paid is recorded)
