answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Dovator [93]
2 years ago
5

The following data were accumulated for use in reconciling the bank account of Creative Design Co. for August 20Y6: Cash balance

according to the company’s records at August 31, $42,920. Cash balance according to the bank statement at August 31, $56,300. Checks outstanding, $25,390. Deposit in transit not recorded by bank, $13,325. A check for $150 in payment of an account was erroneously recorded in the check register as $1,500. Bank debit memo for service charges, $35. Journalize the entries that should be made by the company that (a) increase cash and (b) decrease cash. If an amount box does not require an entry, leave it blank.
Business
1 answer:
frez [133]2 years ago
6 0

Answer:

bank statement                                          56,300

Checks outstanding                                  (25,390)

Deposit in transit not recorded by bank<u>    13,325  </u>

Adjusted bank statement                           44,235‬

Cash account                                       42,920

Bank debit memo for service charges      (35)

check register error:                         <u>       1,350   </u>

Adjusted cash account                         44,235

Explanation:

The procedure is to adjust for the unknow information and mistake of each party.

The bank is unaware of the check outstanding and deposit in transit

The company thanks to the banbk statement gets information about a mistake in his check register as it was posted for 1,500 when it should be 150.

You might be interested in
Last year, you purchased 400 shares of Analog stock for $12.92 a share. You have received a total of $136 in dividends and $4,30
Alenkasestr [34]

Answer:

-$16.78%

Explanation:

Given that

Proceeds from selling the shares = $4,301

Beginning price = $12.92

The computation of capital gains yield is shown below:-

End price per share

= $4,301 ÷ 400

= $10.7525 per share

Capital gains yield = (End price - Beginning price) ÷ Beginning price

= ($10.7525 - $12.92) ÷ $12.92

= -$2.1675 ÷ $12.92

= -$16.78%

4 0
2 years ago
A region is in the middle of a very cold and snowy winter. As a result, hot chocolate has become more desirable, and many of the
Oksi-84 [34.3K]

Answer:

The price of hot chocolate will increase for sure due to the sudden increase in the quantity demanded and decrease in the supply. The net effects on the actual quantity demanded are not definite, since a small increase in price will probably not affect it that much and more chocolate sill be demanded, but if the prince increase is too high, probably the quantity demanded will fall.  

8 0
2 years ago
Atlas Company plans to sell 145,000 units in November and 190,000 units in December. Atlas's policy is that 15% of the following
r-ruslan [8.4K]

Answer:

Option (b) is correct.

Explanation:

Given that,

Sales =  145,000 units

Desired ending inventory =   28,500 units

Beginning inventory =  21,750

Budgeted production in units for November:

= Sales + desired ending inventory - Beginning inventory

= 145,000 units + (190,000 × 15%) - 21,750

=  145,000 units + 28,500 - 21,750

= 151,750 units

8 0
2 years ago
Which of the following is an example of a functional skill?
s344n2d4d5 [400]
I would assume it's A, because you need to communicate to calm them down, which happens to be a functional skill
7 0
2 years ago
Read 2 more answers
In a manufacturing company as many as 100 labourers are working in the production department.
snow_tiger [21]

Answer:

On one hand, the principle of management which is being ignored in this case is that of Unity of Command.

Explanation:

The principle of Unity of Command stipulates all staff or employee, for sakes of clarity and avoidance of confusion, an abiguity, should take instructions from only one boss or line manager.

On the other hand, the principle of management that is being followed in the above case is that of Taylors Functional Foremanship.

The practice of this technique requires that planning and execution be seperated according to areas of specialisation. Specialisation is the primary logic or argument in the Taylors Functional Foremanship principle. Taylors advocates that each foreman needs to be highly proficient, possess special know-how and be capable of directing the staff with high exuberance and tact.

Cheers!

8 0
2 years ago
Other questions:
  • Which of the following is a factor payment for a factor of production?
    11·2 answers
  • A toy manufacturer uses approximately 32,000 silicon chips annually. The chips are used at a steady rate during the 240 days a y
    5·1 answer
  • The inverse demand for a homogeneous-product Stackelberg duopoly is P = 16,000 - 4Q. The cost structures for the leader and the
    10·1 answer
  • The following budget information is available for Crescent Company for January Year 2: Sales $ 800,000 Cost of goods sold 540,00
    11·1 answer
  • National Bank offers a loan at 13.5% per year, compounded weekly (Assuming there are 52 weeks per year). United Bank offers a lo
    13·1 answer
  • Use the following information . On January 1, 2018, Dennis Company purchased land for an office site by paying $540,000 cash. De
    11·1 answer
  • Suppose the government is considering penalizing airlines $27,500 per passenger each time passengers are made to remain on the p
    5·1 answer
  • he following amounts were reported by Howe Company before adjusting its overapplied manufacturing overhead of $16,000. Raw Mater
    13·1 answer
  • In the Vasquez Corporation, any overapplied or underapplied manufacturing overhead is closed out to Cost of Goods Sold. Last yea
    14·1 answer
  • Early in its fiscal year ending December 31, 2021, San Antonio Outfitters finalized plans to expand operations. The first stage
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!