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vivado [14]
2 years ago
9

Graham, Inc.'s April bank statement shows an April 30 balance of $5,120. Prior to reconciliation, its books show a cash balance

of $5,510. ThIs information pertains to Graham, Inc.: Deposits in transit $800; Checks outstanding $465; Bank service charge $10; Error in Graham's records understating cash disbursement $180; Check of another company charged erroneously against Graham's bank account $115; Bank statement shows bank collected a note receivable and interest income for Graham $250. The reconciled cash balance at April 30 on the bank reconciliation should be:
Business
1 answer:
Mars2501 [29]2 years ago
4 0

Answer:

$5,570

Explanation:

The purpose of a bank reconciliation statement is to reconcile the difference between Cash Book balance and Bank Statement balance. Also it is used to check accuracy of Cash Book and the accuracy of Bank Statement.

Graham, Inc.'s April bank reconciliation statement is prepared as :

Graham, Inc.

Bank reconciliation statement as at April 30

Balance as per Bank Statement                 $5,120

Add outstanding lodgments                         $800

Add back error at the bank                            $115

Less unpresented checks                           ($465)

Balance as per Cash Book                        $5,570

therefore,

The reconciled cash balance at April 30 on the bank reconciliation should be $5,570.

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solniwko [45]

Answer:

0.0273 = 2.7%

Explanation:

APY = (1 + r/m)^m - 1

       = (1 + 0.027/4)^4   -  1

       = 0.0273 = 2.73%

8 0
2 years ago
A store that has very limited inventory commonly uses what type of inventory method ?
faltersainse [42]

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Explanation:

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Periodic counts might be once every two months or every three weeks, depending on warehouse size and company needs. This will create better visibility than yearly or seasonal options but it also requires more time and manpower. Workers must ensure they are performing inventory consistently between each count.

3 0
3 years ago
The process of gathering information about the competitive environment, including competitors' plans, activities, and products,
Sholpan [36]

Answer: (C) Competitive intelligence

Explanation:

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The main objective of the competitive intelligence is that it helps in support the various types of strategic decisions in an organization.

According to the given question, the competitive intelligence is helps in gathering the data for improving the ability of an organization in this competitive environment.

 Therefore, Option (C) is correct answer.

6 0
3 years ago
If logan received a​ $2,500 bonus and his mps is​ 0.20, his consumption rises by​ $________ and his saving rises by​ $________.
Anton [14]

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7 0
3 years ago
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kompoz [17]

Answer:

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