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FromTheMoon [43]
3 years ago
6

Ned Douglas owns Ned’s Blankets. Ned asks you to explain how he should treat the following reconciling items when reconciling th

e company’s bank account.Outstanding checks.select an explanationDeduct from balance per bank2.A deposit in transit.select an explanationAdd to balance per bank3.The bank charged to our account a check written by another company.select an explanationAdd to balance per bank4.A debit memorandum for a bank service charge.
Business
1 answer:
eimsori [14]3 years ago
3 0

In accounting, the purpose of reconciliation is to compare two sets of records for correction and make sure they are in agreement.

Here, Ned have some items which needed to be reconciled with the company’s bank account.

  1. For "the Outstanding checks", he should deduct the amount from balance per bank
  2. For "a deposit in transit", he should add to balance per bank
  3. For "the bank charged to our account a check written by another company", he should add to balance per bank and notify the bank of its error.
  4. For "a debit memorandum for bank service charge", he should deduct from balance per books.

Learn more about this here

<em>brainly.com/question/22929135</em>

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Suppose that widgets are produced by a monopolistically competitive industry. If each firm in this market has the same cost stru
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Answer:

The equilibrium number of firms is 20.

Explanation:

Q = SH × b

   = 2,400 × (1/20)

   = 2,400 × 0.05

   = 120

Also given, Q = S / n

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Many economists oppose a constitutional amendment that would require a balanced budget for the federal government because it wou
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What is another term for the buying and selling of stocks?
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Trading

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3 years ago
In the AD partnership, Allen's capital is $140,000 and Daniel's is $40,000 and they share income in a 3:1 ratio, respectively. T
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Answer:

D) 137000 39000

Explanation:

Allen  140,000

Daniel 40,000

Capital before admission 180,000

share ratio 3:1

Capital after admission:

180,000 + 40,000 = 220,000

David participation: 20%

220,000 x 20% = 44,000

David investment  40,000

goodwill: 4,000

There is a difference in goodwill which will be supported for the old partner as their current share ratio

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Capital after David admission:

140,000 - 3,000 = 137,000

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6 0
3 years ago
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