what effect did the journal entries recorded as a result of the bank reconciliation have on the fundamental accounting equation?

Answers

Answer 1

The journal entries recorded as a result of the bank reconciliation affect the fundamental accounting equation, which is: Assets = Liabilities + Owner's Equity.

Here's a step-by-step explanation:

1. Identify the journal entries made as a result of bank reconciliation. These may include adjustments for outstanding checks, deposits in transit, bank errors, and other reconciling items.

2. Analyze the impact of each journal entry on the accounting equation. Each entry will affect at least two accounts: one on the asset side and one on the liabilities or owner's equity side.

3. For example, if you record an outstanding check, you would decrease the cash account (an asset) and decrease accounts payable or another liability account. This would maintain the balance in the fundamental accounting equation.

4. Another example is if you record a deposit in transit. You would increase the cash account (an asset) and increase a revenue or owner's equity account, again maintaining the balance in the accounting equation.

In summary, the journal entries recorded as a result of bank reconciliation will affect the fundamental accounting equation, but they will maintain the overall balance of Assets = Liabilities + Owner's Equity.

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Related Questions

In 2017, Blake purchased a new home. In addition to the purchase price of $200,000, he paid $700 in legal fees and $2,000 in recording costs. In 2019, he added a deck at a cost of $5,000. Blake's basis in his home is:

Answers

Answer:

$207,700

Explanation:

Blake's basis in his home in 2017 = purchase price + legal and administrative fees = $200,000 + ($700 + $2,000) = $202,700

Since the deck that Blake added to his home is considered an improvement that is permanent and increases the home's value, it will also increase the home's basis = $202,700 + $5,000 = $207,700

carl and laura receive $270 per month under a joint and two-thirds survivor life policy settlement option. what would happen if carl died within a year after payment started? a)laura would receive $180 per month for as long as she lived. b)the balance of the proceeds would be paid to laura in a lump sum. c)laura would continue to receive a monthly benefit of $270 for as long as she lived. d)laura would receive $135 per month for as long as she lived.

Answers

If Carl died within a year after the payment started, Laura would continue to receive the monthly benefit of $270 for as long as she live. So, correct option (c).

Under a joint and two-thirds survivor life policy settlement option, the insurance company pays a reduced monthly benefit to the surviving spouse upon the death of the policyholder. In this case, Carl and Laura are receiving $270 per month under this settlement option.

This is because the joint and two-thirds survivor life policy settlement option guarantees that the surviving spouse will receive a reduced monthly benefit for the remainder of their life after the policyholder dies.

Option (a) is incorrect because the monthly benefit for Laura would not be reduced if Carl died within a year after payment started. Option (b) is incorrect because the balance of the proceeds would not be paid to Laura in a lump sum under this settlement option.

Option (d) is incorrect because the reduction factor for a joint and two-thirds survivor life policy settlement option is two-thirds, not one-half.

So, correct option is (c).

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How long after refund is accepted will it be approved.

Answers

Answer:

I believe after 30 or 90 days

As you read through the draft of your message, you consider whether parts of your message should be rearranged to make your point more effective. Proofreading Evaluating Editing

Answers

Answer:

The correct answer will be "Editing".

Explanation:

Editing seems to be the process where even the letter being written is reconstructed or reconfigured to more efficiently express the letter. Arranging, modifying, as well as assembling a recorded, written, or video content for official completion, commonly by such an individual except for the producer of the content (considered as an editor).

The other options in question aren't relevant to the particular circumstance. So the option available here is just the right one.

Ten years ago, Oanh bought a house for $200,000 in Chico. She put in a cash down payment of $40,000 and took out a loan for $160,000. She has paid down $60,000 of the loan. Now the house has a market price of $400,000. How much "equity" does Oanh have in her house?

Answers

Answer:

The amount of equity Oanh have in her house is $300,000.

Explanation:

Equity can be described as the difference between the amount that is owed on a mortgage and the current worth of the home.

For this question, the amount of equity Oanh have in her house can be calculated as follows:

Loan amount = $160,000

Part of the loan paid = $60,000

Current worth of the house = $400,000

Amount owed = Loan amount - Part of the loan paid = $160,000 - $60,000 = $100,000

Equity = Current worth of the house - Amount owed = $400,000 - $100,000 = $300,000

Therefore, the amount of equity Oanh have in her house is $300,000.

who was in paris????

Answers

Answer: i wish i was in paris

Explanation:

Answer:

Ernest hemlingway

Explanation:

he was a Paris writer in 1899-1961

the equipment and structures available to produce goods and services are called

Answers

Answer:

physical capital (c)

Explanation:

beep boop

What are the remedial measures of unemployment in nepal?explain​

Answers

Measures to reduce unemployment: (1) Remedial measures: (a) Labour intensive techniques; (b) Population control; (c) Remove bottlenecks in the way of working of industries; (d) Encourage self-employment; (e) Policy of decentralisation; and (f) Restructuring the educational system.

Critical reading is a
a Theory
b. Process
C. Summarization strategy
d. None of these
Please select the best answer from the choices provided
A
В
C
D

Answers

Answer:C

Explanation:

Answer:

The correct answer for this question is B

The WBS is best suited for design and construction projects that have tangible outcomes. When the final outcome of the project is less tangible or it is the result of a series of steps or phases, some project managers choose to utilize a(n) ___________. Multiple Choice Responsibility Matrix (RM) Organization Breakdown Structure (OBS) Work Breakdown Structure (WBS) Modified Process Breakdown Structure (PBS) Project Priority Matrix (PPM)

Answers

Answer:

Process Breakdown Structure (PBS)

Explanation:

Since in the question it is mentioned that WBS should be best suited for design & construction projects so there is tangible results

now if the final result should be lower tangible so here the project manager should select the project breakdown structure as the process of the project should be driven via requirement of the performance but not with the plans or the blueprints

Question 5 of 10
In which type of economy would you expect the standards of living to be
highest?
A. Command economy
B. Traditional economy
C. Market economy
D. Planned economy

Answers

Among the different types of economies, the market economy is the type of economy where you would expect the standards of living to be the highest. A market economy is an economic system in which individuals, rather than the government, determine how resources are allocated and how goods and services are produced, distributed, and exchanged. The correct option is c.

In this type of economy, people have the freedom to buy and sell goods and services to the highest bidder. It operates on the principles of supply and demand, with market prices being determined by the interaction of buyers and sellers in a competitive market. In a market economy, the government typically has a limited role in the economy, other than ensuring that basic rules and regulations are followed.

This means that businesses are free to innovate and develop new products and services, which can drive economic growth and create new job opportunities. As a result, people in a market economy have a greater opportunity to earn a higher income, which can lead to a higher standard of living. Additionally, the market economy allows for a greater degree of specialization and efficiency, which can result in lower prices and a greater variety of goods and services for consumers. The correct option is c.

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QUESTION 7 Covid-19 pandemic has resulted in numerous changes in the way business is being done. Write a review of the effect on the demand and supply of the economy due to the covid pandemic which has ravaged the world. 2

Answers


The Covid-19 pandemic has had a significant impact on the demand and supply of the economy worldwide. As countries around the world implemented lockdowns and travel restrictions, the demand for goods and services decreased, resulting in a negative impact on the economy. Furthermore, the supply chain has been disrupted, leading to shortages of essential items such as medical supplies and food.


With the pandemic still ongoing, businesses are facing unprecedented challenges in keeping their operations afloat. The pandemic has led to significant changes in consumer behavior, with people spending less on non-essential items and more on essential goods. The reduction in demand has impacted various industries, including tourism, hospitality, and entertainment. Furthermore, with many businesses forced to shut down temporarily or permanently, the unemployment rate has risen.  On the supply side, businesses have had to navigate disrupted supply chains, leading to a shortage of goods and services. The pandemic has highlighted the importance of global supply chain management, and businesses have had to come up with creative solutions to maintain their operations. The rise of e-commerce and contactless delivery services has become necessary for businesses to stay relevant in the current market. the Covid-19 pandemic has had a significant impact on the economy's demand and supply. The pandemic has led to a decrease in demand for non-essential goods and services, while supply chains have been disrupted, leading to shortages of essential items. With the pandemic still ongoing, it remains unclear how long it will take for the global economy to fully recover. However, businesses must continue to adapt to the current situation by developing new strategies and embracing technology to keep their operations afloat.

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Question 1 of 10
The primary remedy for a tort is
A. monetary compensation
B. imprisonment
C. arrest
D. defamation

Answers

Answer:

A. monetary compensation

Explanation:

The main remedy against tortious loss is compensation in damages or money. In a limited range of cases, tort law will tolerate self-help, such as reasonable force to expel a trespasser. This is a defense against the tort of battery.

Hope this helped!!!!

A business has the following items owners equity 700000 total liabilities 1300000 assets?

Answers

Answer:

2,000,000

Explanation:

As per the accounting equation, assets are equal to equity plus liabilities.

Assets = Equity + Liabilities

For this business

Assets =  700,000 + 1,300,000

Assets = 2,000,000

Business lab!! need help
A market overview, including a summary of challenges and opportunities
Top three sectors for export, with detail of major items or sub-sectors to consider. (Since this is an imaginary assignment, rather than coming to this research with your product already in mind and ready to export, you will research what product would be best to export to your country of choice. An easier task!)

How to sell US products in this market

A recommendation on whether it is a good time (politically, and economically) to export to this country

France:

China:

Japan:

Answers

Top three sectors for export, with detail of major items  are

Global Oil & Gas Exploration & Production. Global Pharmaceuticals & Medicine Manufacturing. Global Car & Automobile Manufacturing. .

The products are:

Refined PetroleumCrude PetroleumCars

How to sell us products in the international market?

International markets or your own website are your two choices. Alibaba, Etsy, and eBay are examples of international marketplaces where users anticipate purchasing from vendors located in distant nations.

The direct sale of goods and/or services to another nation is known as exporting. It is possibly the least risky and most well-known way to join a foreign market.

Therefore, some global market entry strategies for any kind of product are:

Structured exporting.Licensing and franchising.Direct investment. Buying a business.

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Wildhorse, Inc. produces three types of balloons-5mall, medium, and large-with the following characteristics: The comparny has only 2,000 machine hours available each month. How many units of each type of balloon should the company make to maximize its total contribution margin? (Round answers to 0 decimal places, e.g. 5.275.)

Answers

Wildhorse, Inc. produces three types of balloons-5mall, medium, and large, and only 2,000 machine hours available each month. The company wants to maximize its total contribution margin, which can be calculated as the price of the product minus its variable cost per unit.

The following table shows the product price per unit and its variable cost per unit: Type of balloon | Selling Price | Variable CostSmall | 0.5 | 0.2Medium | 1 | 0.3Large | 2 | 0.4 We can use the following linear programming model to solve the problem:Let S be the number of small balloons produced per monthLet M be the number of medium balloons produced per monthLet L be the number of large balloons produced per monthMaximize: 0.3S + 0.7M + 1.6LSubject to: 0.2S + 0.3M + 0.4L ≤ 2000 (Machine hours constraint)S ≥ 0, M ≥ 0, L ≥ 0 (Non-negativity constraint)

The second constraint is the non-negativity constraint, which states that the company cannot produce negative quantities of any of the three types of balloons.We can use any linear programming software to solve the problem. The optimal solution is:S = 5,000 unitsM = 0 unitsL = 2,500 unitsTherefore, the company should produce 5,000 units of small balloons and 2,500 units of large balloons to maximize its total contribution margin. No medium balloons should be produced since they do not contribute positively to the objective function.

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Can you really answer the question of whether an opportunity is real before developing a product concept?

Answers

Answer:

Yes

Explanation:

For example, it has been said that what prompted e-commerce on platforms such as Amazon, eBay, etc was a result of the opportunity their founders saw with the invention/adoption of the internet.

In other words, they saw a real opportunity (through the internet growth rate) and thus decided to develop a product concept. Hence, we could thus conclude with a yes to the question.

24.06When is inflation an important issue in conducting an analysis and creating a business plan? Why bother?
Consider various options for pursuing new market opportunities. How could the options for pursuing market opportunities be applied to your career planning at various stages in your career? (Think of your skills as the products you have to offer.

Answers

Inflation is a general rise in the price level, causing a decline in purchasing power. Inflation has an impact on the analysis and creation of a business plan, in that it reduces the value of assets and increases the cost of materials and labor.

Therefore, when considering the company's financial health and forecasting the business's future, inflation must be considered as an important factor. Understanding inflation is vital in developing a successful business plan since it affects the level of expenditure that a company incurs. A business must adjust its strategies according to inflation rates to sustain profitability.

For example, if a company's product price remains constant but inflation is increasing, its profits will be negatively affected since its cost will rise. Hence, it becomes vital for businesses to conduct their analysis to create an effective business plan that factors in inflation rates. Pursuing new market opportunities can be accomplished by expanding your skills to stay up-to-date with the latest industry trends.

For example, if you have experience in digital marketing and wish to expand your skills to gain a competitive edge, you can attend conferences, workshops, or even take online courses. This not only helps to pursue new market opportunities but also enables you to stay competitive in your career. To conclude, the options for pursuing market opportunities can be applied to your career planning at various stages by investing time and effort to expand your skillset.

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How did the Voting Rights Act influence the use of gerrymandering quizlet?

Answers

The Voting Rights Act has been construed by states to suggest that it is occasionally essential to create districts that benefit minorities, such as North Carolina's 12th Congressional District.

How has the Voting Rights Act of 1965 impacted redistricting?

Voting techniques and procedures that discriminate on the basis of race, color, or membership in a language minority group are outlawed nationally under Section 2 of the Voting Rights Act. This restriction includes redistricting plans.

The results of state and House of Representatives elections have an impact on the presidential election due to gerrymandering. Since districts are irrelevant in presidential and senate contests, they are unaffected.Districts governed by historically marginalized people are aided through gerrymandering.

The manipulation could take the form of "cracking," which involves spreading out the supporters of the opposing party across several districts, or "packing," which involves concentrating the followers of the opposing party in one district in order to lessen their influence in other districts. Additionally, incumbents may benefit from gerrymandering.

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________ is the right of an owner of property such as plants or animals to increase in the property. the owner of a cow, for example, owns the calves born to the cow.

Answers

Accession is the right of an owner of property such as plants or animals to increase in the property. the owner of a cow, for example, owns the calves born to the cow.

Accession refers to the ownership of a property or any other thing, whether it be real or personal, movable or immovable. It carries with it the right to all that the thing produces, and to all that becomes united to it, either naturally or artificially. This this is called the right of accession. This right is given to an owner of a particular thing which is valuable.

Accession is the right of an owner of property over his particular valuable thing. This right is only given to that owner. For instance, the owner of a cow owns the calves born to the cow.

Hence, accession is important for every individual holding their valuables.

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Police are investigating the site of a convenience store robbery. The glass door was
broken, and it looks as if several packages of cigarettes are missing from behind the
counter. One police officer notices a man walking past the store and gets an odd
feeling about him. He stops the man and insists on searching his pockets. Inside the
man's pockets, police find several packs of cigarettes. They arrest the man and
charge him with the crime. Unfortunately, the judge throws out the charges. What is
MOST likely the judge's reason for dismissal?
A-The man is under 18 years old.
B-The man did not have money to post bail.
C-The policeman did not have probable cause to search the man.
D-The policeman did not have enough evidence that the man was the robber.

Answers

I would say the answer is D because he assumes the man stole them, didnt even ask for a receipt or confirm with the store clerk if he did buy them.

The MOST likely judge's reason for dismissal is the policeman did not have enough evidence that the man was the robber. Thus the correct option is D.

What is Robbery?

Theft or robbery is defined as the stealing of someone else's property without their permission and using force or a threat of force that exhibits fear in them to perform any action against them.

To prove a crime against someone requires one to submit enough evidence which helps to establish the claim as the justice system is based on evidence not on arguments.

In the given case, police found the activity of the men suspicious as they found cigarette packets from him. There is no evidence that he has stolen the cigarette packets might be possible he has purchased them.

So due to a lack of evidence against the person the Judge dismissal the case. Therefore, option D is appropriate.

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Identify the purpose of an office automation system.
A) to create, store, analyze, and manage spatial data
B) to provide access to databases in order to support quantitative decision making
C) to support a wide range of predefined day-to-day activities of individuals and small groups
D) to support interaction between the firm and its customers
E) to enable customers to buy goods and services from a firm's Web site

Answers

An office automation system's main goal is to enable a broad variety of daily tasks that are established for both individuals and small groups. Option C is Correct.

Just a small number of firms employ transaction processing systems (TPS) to handle consumer transactions more quickly. Understanding information, developing views, and basing judgements or predictions on it are all aspects of knowledge.

Because another organisation can complete these minor jobs more effectively than the company itself, outsourcing non-core operations can increase productivity and efficiency. Also, this approach may boost industry competition, shorten turnaround times, and reduce overall operating costs. Option C is Correct.

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Jake and Martha recently got married. Martha has been married earlier and has a son, Toby, from her previous marriage. Jake and Toby are having problems adjusting to each other. How can we best describe Jake and Martha’s
family?
A.
dual-employed marriage
B.
extended family
C.
blended family
D.
grandparent family
E.
adoptive family

Answers

Answer:

Blended family

Explanation:

Answer:

blended family

Explanation:

Where is market equilibrium located
on a supply and demand curve?
A. at the origin of supply and demand
B. at the intersection of supply and demand
C. at the highest points of supply and demand

Answers

Answer:

B. at the intersection of supply and demand

Explanation:

Equilibrium is a market condition where there no excess or shortage in demand and supply. It is when the quantity demanded matches the quantity supplied. At equilibrium, buyers and sellers are happy with the prevailing prices.

In a graph showing the demand and supply curve, the equilibrium point is the intersection of the supply and demand curve.  

Eve's Apples opened for business on January 1, 2012, and paid for two insurance policies effective that date. The liability policy was $36,000 for eighteen-months, and the crop damage policy was $12,000 for a two-year term. What was the balance in Eve's Prepaid Insurance account as of December 31, 2012

Answers

Answer:

$18,000

Explanation:

Since the two insurance polices are for 18 months and 2 years respectively, at $36,000 and $12,000 each, we can deduce that by the 31st of December, 2012 a year each has been off the policies.

By that, we can simply deduce that for the $36,000 liability policy, its monthly rate is $2,000 ($36,000 ÷ 18). Same can be said for the crop damage plan at $12,000 for 2 years. If a year is off the plan, the 2nd year is worth $6,000 ($12,000 ÷ 2).

Therefore, from the liability policy, we have $12,000 left  for the 6 months left on the plan while we have $6,000 on the crop damage plan for the next year 2013.

Adding both remainders gives $12,000 + $6,000 = $18,000

Cheers.

an established product which is bringing in revenue is a comment about which stage of the product life cycle?

Answers

An established product that is bringing in revenue is in the maturity stage of the product life cycle. A product life cycle is the amount of time a product goes from being introduced into the market until it's taken off the shelves.

There are four stages in a product's life cycle - introduction, growth, maturity, and decline. A company often incurs higher marketing costs when introducing a product to the market but experiences higher sales as product adoption grows. Sales stabilize and peak when the product's adoption matures, though competition and obsolescence may cause its decline. The concept of product life cycle helps inform business decision-making, from pricing and promotion to expansion or cost-cutting.

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resoudre cette equation suivante. 5 - 6 = 3 +2 x. aidez moi svp .. reponse​

Answers

Answer :

-2

5-6=3+2x

-1=3+2x

-1-3=2x

-4=2x

-4/2=x

-2=x

A Bakery stocks daily five gourmet fancy fruit-topped cakes. All the cakes that are not sold during the day are thrown away, and the bakery restocks the next day with new cakes, bringing the in-stock level up to five at the beginning of each day. If daily demand is greater than the five cakes in stock the bakery loses sales. The special cake sells for $32 and costs the store $10. The probability distribution of daily demand for the cake is as shown below daily demand - 0, 1,2,3,4,5,6,7 Px - 0.01, 0.02, 0.04, 0.06, 0.20, 0.60, 0.05, 0.02

Answers

Answer:

The answer is "$1.98".

Explanation:

calculating the profit per cake \(= \$32 -\$10 =\$22\)

\(\text{if demand}=6 , \ lose =\$22 \\\\\text{if demand}= 7,\ lose = \$44\\\)

Calculating E(profit lost):

\(=\$22 \times 0.05+ \$44 \times 0.02\\\\ =\$ 1.1+\$ 8.8\\\\=\$ 1.98\)

A Bakery stocks daily five gourmet fancy fruit-topped cakes. All the cakes that are not sold during the

in june 20x1, mba retailers sold refundable merchandise coupons. mba received $15 for each coupon redeemable from july 1 to december 31, 20x1, for merchandise with a retail price of $17. at june 30, 20x1, how should mba report these coupon transactions?

Answers

By unearned revenues at the cash received amount as of June 30, 20x1, MBA reports these coupon transactions.

How should unearned income be represented on a cash flow statement?

Unearned income is recorded as a liability on the balance sheet and is immediately reported in the cash flow statement after being received. In the income statement, it is noted that the service was provided in return for the payment.

How should unearned income be represented on a cash flow statement?

Unearned income is recorded as a liability on the balance sheet and is immediately reported in the cash flow statement after being received. In the income statement, it is noted that the service was provided in return for the payment.

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What does the prefix re mean in the word reunited?
a.
both
c.
always
b.
again
d.
none of the above

Answers

Answer:

b. Again

Explanation:

Answer:

b.

again

Explanation:

Both reunion and reunite come from the Latin root unus, or "one," and the "again" prefix re-, so reunite means "make as one again."

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Write 670,000,000 in scientific notation. 6.7 109 0.67 109 67 108 6.7 108 explain and graphically depict how security market line(SML) is different from capital market line (CML). Identify and discuss the importance of minimum variance portfolio? Why CAPM equatio might be more relevant than other equations when calculating required rate of return. (2000 words)with Harvard reference Which BEST describes how the characteristicallyAmerican settings shape BOTH stories? Which of the following is NOT true about risk management?A. The project manager is the only person responsible for identifying risksB. All known risks should be added to the risk registerC. Risks should be discussed at every team meetingD. Risks should be analyzed for impact and priority What is greater 25.789 or 25.879 Susan manufactures robots for the farming industry. She makes 2 farming robot models, TM1 and TM2, which are primarily programmed to pick up eggs.Susan wanted to generate some publicity for her business, so on Thursday, she put an advert in the Farm News, a news publication circulated widely amongst farmer in the area. The advertisement was intended for the TM1 robot and stated as follows:Special offer: One technologically advanced TM1 robot will be sold to the first person who comes to my factory on Monday and makes an offer of $50,000 for it written on an egg-shell.Carl runs a free-range egg farm and needed a new robot to collect eggs. On Friday, he emailed Susan an offer of $60,000 for TM1. He stated that he needed it to replace his broken robot. Susan immediately accepted Carls offer and sent the TM1 robot to him straight away.On the following Monday morning, Razwana was the first person to attend Susans factory. She presented her offer of $50,000 written on an egg-shell. 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