Answer:
See attached picture
Explanation:
Bank statement is a statement prepared by bank. The company also, maintains its own records. This is the reason the cash balance per bank and cash balance per books seldom agree.
Bank reconciliation is the statement prepared by companies to remove disagreement between cash balance per bank and cash balance per books.
In here we are to calculate bank reconciliation for Satiango co.
Below are the attached picture. But, in this case the adjusted balance as per bank is not equal to the adjusted balance per books.
Answer:A
Explanation:When supply of a product goes up, the price of a product goes down and demand for the product can rise because it costs less.
Answer:
Budge is like using your money or a budge a balance
Explanation:
Answer:
b. False
Explanation:
The calculation of the estimated ending inventory is given below:
When the cost to retail ratio is 70%,
and
The ending inventory at retail is $145,000,
So, the ending inventory at cost is
= 70% of $145,000
= $101,500
Therefore the given statement is false