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Eddi Din [679]
3 years ago
15

The following information pertains to Lance Company.

Business
1 answer:
nalin [4]3 years ago
5 0

Answer and Explanation:

The preparation of the bank reconciliation statement is presented below:

Balance as per bank $8,732.00

Add: Deposit in transit $3,500.00  

Less: Outstanding checks  -$1,486.00

Adjusted bank balance  $10,746.00

Balance as per books $8,768.00

Add: EFT received from customer $2,023.00

10791.00

Less: Service charges -$45.00

Adjusted book balance  $10,746.00

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Kuzma​ Foods, Inc. has budgeted sales for June and July at $ 680 comma 000.00 and $ 720 comma 000.00​, respectively. Sales are 8
atroni [7]

Answer:

The budgeted Accounts Receivable balance on July​ 31 is $ 244,800.

Explanation:

Since the company sells 85% credit of which 60% is collected in the month of sale and 40% in the following month. This implies that where the sales for the month of June is $ 680,000, all of the credit sales for the month of June would have been collected by 31 July. Hence no receivables will be budgeted for considering June sales by 31 July.

For sales to be made in July budgeted at $ 720,000, 85% will be credit sales

This amounts to

Credit sales for July = 85% of 720000

                                  = \frac{85 * 720000}{100}

                                  = $ 612,000

60% of the credit sales in the month of July will be collected by 31 July while 40% will be collected in the following month hence,

Accounts Receivable balance on July​ 31

= 40% of 612000

= \frac{40 * 612000}{100}

= $ 244,800

6 0
3 years ago
In economics, decisions are necessary because ________ are scarce, while ________ are practically unlimited.
sasho [114]

In economics, decisions are necessary because resources are scarce, while wants and needs are practically unlimited.

<h3>What is economic?</h3>

Economics examines how products and services are produced, distributed, and consumed as well as the decisions that people, corporations, communities, and countries make when distributing funds.

There are enormous people who are living in this world and all of them have some kind of need or want them to need to fulfill and also which means that there will be limited resources that will be available to them in the near future also.

Learn more about economics, here:

brainly.com/question/14355320

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3 0
1 year ago
You pay $75 for a ticket to a Drake concert. You think the ticket is worth $100. The night before the concert your friend offers
lukranit [14]

Answer: $80

Explanation:

The opportunity cost is regarded as the real cost of the alternative that was left or forgone.

Based on the information given in the question, the opportunity cost is the free ticket to a Post Malone concert that is worth $80 which was given to me by my friend.

Therefore, the correct option is E.

5 0
3 years ago
Yello Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2019, at a cost
worty [1.4K]
A is the best choice good luck
4 0
3 years ago
The goal of recruitment is to obtain a pool of applicants large enough to contain a number of talented prospects. group of answe
Elan Coil [88]

The goal of recruitment is to acquire a pool of candidates massive sufficient to include some talented prospects. True

A purpose is an objective or goal that someone is making an attempt to attain or achieve. The goal is likewise the cease point of a race or something that a participant is trying to put an item into as a part of a game. purpose has other senses as a noun. A goal is an intention or objective that you work toward with attempt and determination.

Lifestyle goals are what we need to obtain, and they may be a lot more meaningful than simply 'what we need to accomplish to live to tell the tale. not like everyday routines or quick-time period targets, they drive our behaviors over the long term.

The definition of a goal is something you aspire to do or wish to do or an aim can refer to scoring a point in certain sporting events. An instance of aim is you decide which you need to get out of debt. An example of aim is whilst you get the p.c. into the opposing crew's net in hockey.

Learn more about goal here: brainly.com/question/1512442

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4 0
2 years ago
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