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postnew [5]
2 years ago
8

Bank reconciliations

Business
1 answer:
emmasim [6.3K]2 years ago
3 0

Answer:

When you reconcile your business bank account, you compare your internal financial records against the records provided to you by your bank. A monthly reconciliation helps you identify any unusual transactions that might be caused by fraud or accounting errors, and the practice can also help you spot inefficiencies.

Meaning:

A bank statement is a list of all transactions for a bank account over a set period, usually monthly. The statement includes deposits, charges, withdrawals, as well as the beginning and ending balance for the period.

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Answer the next question on the basis of the following data. Output Total Cost 0 $24 1 33 2 41 3 48 4 54 5 61 6 69 The average f
Nezavi [6.7K]

Answer:

Option (A) is correct.

Explanation:

The average fixed cost is determined by dividing the total fixed cost by number of units produced.

Given that,

Fixed cost = $24

The average fixed cost of producing 3 units of output is:

= Total Fixed cost ÷  Number of units produced

= $24 ÷  3

= 8

Therefore, the average fixed cost of producing 3 units of output is $8.00.

8 0
3 years ago
Suppose you have $1,500 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually.
ryzh [129]

Answer:

$ 1,781.53  

Explanation:

The future value of the 5-year CD can be determined by using the future value formula stated below:

FV=PV*(1+r)^n

FV is the future value which is expected future amount after 5 years

PV is the initial amount used in purchasing the CD i.e $1500

r is the rate of return on the CD on an annual basis which is 3.5%

n is the number of years the investment would last which is 5 years

FV=$1500*(1+3.5%)^5

FV=$1500*1.187686306

FV=$ 1,781.53  

8 0
3 years ago
Scribners Corporation produces fine papers in three production departments—Pulping, Drying, and Finishing. In the Pulping Depart
Arlecino [84]

Answer:

a. costs of production  Pulping: 165000  conversion: 159000

b. Cost per equivalent unit Pulping: 0.65 conversion: 0.20

c. cost of units completed and transferred out: Pulping: 102050 conversion: 31400 Total: 133450

d. Cost of reconciliation:

Cost of beginning in process inventory (4800 + 500) = 5300

Costs added to production during the period (102450 + 31800) =134250

8 0
3 years ago
Which of these best fits the definition of interest, as it applies to finance? a. interest is the money earned by investing. b.
ladessa [460]

The definition for interest in terms of finance is interest is the cost of borrowing. Therefore the correct option is (B).

<h3>What is Finance?</h3>

Finance refers to the money or the funds required by the company to undertake the business projects. Here, finance is the separate field of the study taught to the management students.

Interest refers to the amount charged to the borrower to the lender on the loan facility provided to them. Every lender charges the rate of the interest according to his will.

Bank also charge the rate of the interest on the loan provided to the customer. Therefore the correct option is (B).

Learn more about Finance here:

brainly.com/question/12459778

#SPJ1

6 0
2 years ago
When a corporation issues bonds, the price that investors are willing to pay for the bonds depends on all of the following EXCEP
Vesna [10]
B. The call price of the bonds
4 0
2 years ago
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