Answer:
Bank reconciliation for Miller Co. for August 31
Amount in $ Amount in $
Bank statement Balance 3,868
Add;
Deposits in transit 743
Bank service charge 115
Error in check for supplies 9 867
Deduct;
Outstanding checks 764
Cash account balance 3,971
Explanation:
The bank reconciliation is one done between the balance per the books and balance per the bank statement. This is usually as a result of transactions known as reconciling items.
These are items that have either been recognized in books but yet to be recorded by the bank or vice versa, transactions recorded wrongly by one of the parties etc.
To reconcile the two balance moving from the bank statement balance to the cash account balance;
Deposit in transit has been debited to the cash balance hence it will be added to the bank. Bank service charge has been deducted from the bank and will be added back.
The erroneous recorded of the check shows that the cash account balance was under credited by $9 hence it will added to the bank statement balance. The outstanding check has been deducted from the cash balance and will be deducted from the bank statement balance.
Answer:
Explanation:
For representing the budgeted documents in the correct order, the following ordering should be required which is shown below:
1. Sales budget
2. Production budget
3. Direct materials budget
4. Direct labor budget
5. Selling and administrative expense budget
6. Cash budget,
7. The budgeted income statement,
8. Budgeted balance sheet
First, the company has to decide how much sale is to be done in a particular year after that company can decide the purchase amount, after that material, labor and other selling expenses are required.
Then, the cash budget should be prepared which shows the cash inflow and cash outflow position of a business. At last, the Budgeted income statement and the Budgeted balance sheet should be prepared.
Answer:
new law that interfaces with productive efficiency.
Explanation:
The Production possibility curve shows all the two combination of goods or services that can be produced in an economy given its resources and technology. Carrying out production on the production possibility curve is efficient. Carrying out production to the right of the production possibility curve or outside the curve is impossible. Carrying out production inside or to the left of the production possibility indicates inefficiency in production .
Technological improvement and a gain of resources shifts the curve outward.
A loss of resocurces pushes the curve inward.
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The condition will be excused because of ESTOPPEL. Estoppel is an obstruction which prevents a person from asserting a right or denying a fact. The obstruction is normally due to the person action, conduct or failure to act. The principal aim of estoppel is to prevent injustice due to inconsistency or fraud. Estoppel is of two types: equitable and legal estoppel.
Answer:
The profit when the company makes five widgets is $30
To maximize profit, the company should produce 6 widgets per day
The company's profit would decrease by $17 if the company made seven widgets
Explanation:
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