One of the item that you could look is the outstanding check
Outstanding check refers to the check that you've already given to someone as a payment, but that person still has not turned it into cash so basically it shouldn't be deduced from your book.
When adjusting your register, you should eliminate this amount so your company do not miscalculate the amount of cash they actually owned.
Answer:
Credit sales= $69,000
Explanation:
Accounts receivable is a transit account that is used to show revenue that is owed to the business by other parties such as vendors.
The portion of accounts receivable that is collected contributes to profits, while the portion that is not collectible results in loss to the business.
When customers pay the balance in the account reduces, while when credit sales are made the balance increases.
Final balance of account receivable= Opening balance+ credit sales- customer payments
33,000= 40,000+ credit sales- 76,000
Credit sales= 33,000+ 76,000- 40,000
Credit sales= $69,000
Answer:
Market price; Equilibrium price
Explanation:
The equilibrium price is the market price where the quantity of goods supplied is equal to the quantity of goods demanded. This is the point at which the demand and supply curves in the market intersect. It become hard to reach equilibrium price and quantity when customers infer the quality of a product by its price cos that will inform their purchasing decision.
The answer to this should be 24.65.
I could be wrong but I think you are suppose to add.
Hope this helped :)
Have a great day
Answer:
1) A cheque should be in writing and properly signed by the drawer.
2) A cheque contains an unconditional order.
3) A cheque issued on a specified banker only.
4) The amount specified is always certain and should be clearly mentioned both in figures and words.
5) The payee of a cheque is always certain