Bank balance and check book balance should always be the same but in case if there is some differences, it might be possible that certain amount is not recorded or missed either by bank or check book balance, hence the books should be reconciled.
The reconcile statement above should be:
Balance as per bank statement:
Add: Deposits in transit:
Less: Outstanding checks recorded in check book and not recorded in bank book.
Reconcile balance in the books of bank.
The image attached shows the reconciliation .
Balance as per cash book:
Less: Service charge deducted by bank but not recorded in check book
Add: Interest earned not recorded in check book
Reconcile Balance as per cash book.
The image is attached.
A business operated by state legally...... is called corporation
Answer:
The numeric response for the question using real numbers rounded to one decimal place is given as below.
Explanation:
Tax incidence for almonds is (12 / (12 + 0.47)) = 0.96
for cotton (0.73 / (0.73 + 0.68)) = 0.52 and
for processing tomatoes is (0.64 / (0.64 + 0.26)) = 0.71
Answer:
The total cost of goods sold = $70,000
Explanation:
Given:
Initial inventory at the start of the year for Jackson Co. = $20,000
Total cost of purchases made during the year = $80,000
Inventory remaining at the end of the year = $30,000
Solution:
Total inventory for Jackson Co. during the year = 
Inventory remaining at the end of the year = $30,000
The cost of the goods sold can be calculated by subtracting the remaining inventory from the total inventory.
Thus, cost of goods sold can be given as :
⇒ 
⇒ 
The total cost of goods sold = $70,000
Answer:
$59,080
Explanation:
The calculation of September cash disbursements is shown below:-
September cash disbursement = Company's budgeted fixed manufacturing overhead - Depreciation + Variable manufacturing overhead
= $43,120 - $3,640 + $7.00 × 2,800
= $43,120 - $3,640 + $19,600
= $62,720 - $3,640
= $59,080
Therefore for computing the September cash disbursement we simply applied the above formula.
