Answer and Explanation:
The preparation of the bank reconciliation statement is presented below:
Organic Food Co.
Bank reconciliation statement
Particulars Amount Particulars Amount
Bank cash balance $5,860 Company cash balance $6,500
Add: Deposits Less: NSF check -$220
in transit $2,240 Less: service fee $120
Add: Correction $180
Less: Outstanding
Check - -$2,120
Bank balance Company balance
After reconciliation $6,160 After reconciliation $7,955
It is the statement which balance the cash balance and bank balance after these adjustments made
Answer:
$17,000
Explanation:
The amount of credit balance is $18,000 which is then subtracted from the amount of Receivables which are written off which is $14,000. The difference of both the amounts is then subtracted from the allowance for uncollectible accounts which is required, the amount is $21,000.
Credit balance - Written off amount
$18,000 - $14,000 = $4000
Allowance for uncollectible accounts - $4,000
$21,000 - $4,000 = $17,000
Answer:
D) Establish the mission, vision, and values statements
Explanation:
A mission statement is a short written description of what is the purpose of your company, or why does it exist. The mission statement usually includes the company's capabilities, what unsatisfied needs will the company satisfy, and activities will be carried out to satisfy their customers' needs.
The mission statement is the cause (before) and the vision statement is the effect (after). The vision statement should describe the long term goals that your company should accomplish. It serves as a guide to where you want to be in the future.
The value statements should describe how Jordan values his own business (including employees), his customers (including the community) and his suppliers. The values statements serve as a guide on how Jordan and his employees should behave within the business.
Answer:
Net Operating Profit After Taxes or NOPAT
Explanation:
NOPAT is calculated by substracting the tax expense from the revenue that the company obtains exclusively from its operating activities. This means that NOPAT does not include income from non operating activities like small investments or one time sales of capital goods.
NOPAT is a very important indicator in corporate finance, often used by analysts to gauge a company's true level of profitability. It is also an important element in the calculation of another important indicator, Economic Value Added or EVA.
