The september 30 bank statement for bennett company and the september ledger account for cash are summarized here: bank statement checks deposits balance balance, september 1 $ 6,800 deposits recorded during september $ 26,150 32,950 checks cleared during september $ 26,950 6,000 nsf checks—betty brown 130 5,870 bank service charges 55 5,815 balance, september 30 5,815 cash (a) sept. 1 balance 6,800 sept. checks written 29,450 sept. deposits 28,500 no outstanding checks and no deposits in transit were carried over from august; however, there are deposits in transit and checks outstanding at the end of september. required: 1. reconcile the bank account. 2. prepare the journal entries that should be made as the result of the bank reconciliation. 3. what should the balance in the cash account be after the reconciliation entries? 4. what total amount of cash should the company report on the september 30 balance sheet?

Answers

Answer 1

The balance in the cash account after the reconciliation entries should be the adjusted ledger balance, which is $5,665. The total amount of cash the company should report on the September 30 balance sheet is the adjusted bank balance, which is $5,665.

1. To reconcile the bank account, we need to consider the following items:
- Deposits in transit: $28,500 (ledger) - $26,150 (bank statement) = $2,350
- Outstanding checks: $29,450 (ledger) - $26,950 (bank statement) = $2,500
- NSF checks: $130
- Bank service charges: $55

Bank reconciliation:

Bank statement balance (Sept. 30): $5,815
Add: Deposits in transit: $2,350
Subtract: Outstanding checks: -$2,500
Adjusted bank balance: $5,665

Ledger cash balance (Sept. 30): $5,850
Subtract: NSF checks: -$130
Subtract: Bank service charges: -$55
Adjusted ledger balance: $5,665

2. Journal entries for the bank reconciliation:
a) Bank service charges:
 - Debit: Bank service charges expense $55
 - Credit: Cash $55
b) NSF checks:
 - Debit: Accounts receivable (Betty Brown) $130
 - Credit: Cash $130

3. The balance in the cash account after the reconciliation entries should be the adjusted ledger balance, which is $5,665.

4. The total amount of cash the company should report on the September 30 balance sheet is the adjusted bank balance, which is $5,665.

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Related Questions

What factor counts the least in calculating a person's credit score?

Answers

Rent and utility payments: In most cases, your rent payments and your utility payments are not reported to the credit bureaus, so they do not count toward your score.

The partnership agreement of Payton and Namath provides for salary allowances of $45,000 to Payton and $35,000 to Namath, with the remaining income or loss to be divided equally. During the year, Payton and Namath each withdraw cash equal to 80% of their salary allowances. If partnership net income is $100,000, Payton's equity in the partnership would: ______

Answers

Payton's equity in the partnership would be $55,000.

Given,

Salary allowances of Payton = $45,000

Salary allowances of Namath = $35,000

Remaining income or loss = Equally divided

Cash withdrawn by Payton = 80% of $45,000 = $36,000

Cash withdrawn by Namath = 80% of $35,000 = $28,000

Total cash withdrawn = $36,000 + $28,000 = $64,000

Partnership net income = $100,000

Total equity of partnership = $45,000 + $35,000 + $20,000($20,000 is 50% of ($100,000 - $64,000))= $100,000

Payton's equity in the partnership = Salary allowance + 50% of the partnership profit

$45,000 + 50% of $20,000= $45,000 + $10,000= $55,000

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Question 7 of 10
Zack buys 40 shares of eBay at the close price of $20.95. His broker charges
him 4% of each share as a transaction fee. How much did Zack spend in total
to buy this stock?
A. $838.00
B. $871.52
C. $856.28
D. $891.46

Answers

The cost of each share is $20.95, and Zack buys 40 shares, so the cost of the shares is 20.95 * 40 = $838.00.

Zack's broker charges him 4% of each share as a transaction fee, so the total transaction fee is 0.04 * 20.95 * 40 = $33.28.

Therefore, the total cost of the transaction is $838.00 + $33.28 = $871.28.

The correct answer is B. $871.52.

john's company makes a great product and customers are happy with their purchases. unfortunately, few potential customers visit the company's website. what are two ways that responsive search ads could help john's company reach more potential customers? (choose two.) select 2 correct responses with lower costs-per-click, advertisers using responsive ads can afford to be in more daily auctions. with higher per-sale transaction returns, responsive ads increase the working budget for an advertiser's active campaigns. with machine learning making the decisions, responsive ads are given preferential treatment by the system in every auction. with multiple headline and description options, responsive ads can compete in more auctions for a wider range of search terms.

Answers

Responsive search ads are a powerful tool that can help John's company to reach more potential customers. By using responsive search ads and by providing higher per-sale transaction returns, John's company take benefit from lower costs-per-click, which means they can participate in daily auctions



Another way that responsive search ads can help John's company is by providing higher per-sale transaction returns. Responsive ads use machine learning to make decisions about which ads to show to potential customers, based on their search queries and other relevant factors.

By using machine learning, responsive ads are given preferential treatment by the system in every auction. This means that John's company's ads are more likely to be displayed to potential customers who are most likely to convert into paying customers, which can result in higher per-sale transaction returns.


Finally, with multiple headline and description options, responsive search ads can compete in more auctions for a wider range of search terms. This means that John's company can reach a larger audience with their ads, and they can target specific keywords and phrases that are most relevant to their products and services.

By using responsive search ads, John's company can increase their visibility in the marketplace, attract more potential customers to their website, and ultimately, grow their business.

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3. What are the 4 components of the carbon neutral
business cycle?

Answers

The four components of the carbon neutral business cycle are as follows.

What are the  steps?

1. Measurement: The first component involves measuring the carbon emissions produced by a business throughout its entire supply chain and operations.

This includes calculating the carbon footprint of the business's energy consumption, transportation, waste management, and any other activities that contribute to greenhouse gas emissions.

Accurate measurement is crucial for identifying areas where emissions can be reduced.

2. Reduction:

The second component focuses on reducing carbon emissions by implementing sustainable practices and technologies.

This can involve transitioning to renewable energy sources, improving energy efficiency, optimizing transportation logistics, and implementing waste reduction strategies.

By actively reducing emissions, businesses can work towards achieving carbon neutrality.

3. Offsetting:

The third component involves offsetting the remaining carbon emissions that cannot be eliminated through reduction measures.

Offsetting involves investing in projects or initiatives that help to remove or reduce greenhouse gases from the atmosphere.

Examples of offsetting activities include reforestation projects, investing in renewable energy projects, or supporting initiatives that capture and store carbon dioxide.

4. Reporting and Verification:

The final component is reporting and verification, which ensures transparency and accountability.

Businesses need to accurately report their emissions reduction efforts, offsetting activities, and progress towards carbon neutrality.

This information is often verified by third-party organizations to ensure credibility and compliance with industry standards.

By implementing these four components - measurement, reduction, offsetting, and reporting/verification - businesses can work towards achieving carbon neutrality and minimizing their environmental impact.

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The functions of a salesperson in his or her role as manager of a territory include: A. providing solutions to customer's problems B. providing service to customers C. providing company with market information D. helping customers use products after they are purchased E. All of the choices are correct

Answers

All of the choices listed (A. providing solutions to customer's problems, B. providing service to customers, C. providing company with market information, D. helping customers use products after they are purchased) are functions of a salesperson in his or her role as manager of a territory.

A salesperson in this role typically acts as the main point of contact between the company and its customers in a specific geographic region. The salesperson is responsible for developing and maintaining relationships with customers, identifying and addressing customer needs, and promoting the company's products and services. A key part of this role is providing solutions to customer's problems. This can involve troubleshooting issues with products or services, or working with the customer to find the best solution to meet their needs. The salesperson also plays an important role in providing service to customers. This includes responding to customer inquiries, addressing customer concerns, and ensuring that customer needs are met in a timely and effective manner. Another important function of the salesperson is to provide the company with market information. This involves gathering information about customer needs and preferences, as well as tracking market trends and competition, in order to help the company better understand its target market. Finally, the salesperson is responsible for helping customers use products after they are purchased. This includes providing training and support to help customers effectively use and get the most out of the products they have purchased.

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If you were a manager, which management style do you think you would use most often?
Explain why. (1-3 sentences. 3.0 points)

Answers

Answer:

Participative management style.

Explanation:

It should be noted that the participative management style is a management style that requires the cooperation of personnel.

It is essential as it aims to build commitment as well as develop initiatives within work teams.

FILL IN THE BLANK. this type of exchange is the opposite of ____________ gas exchange.

Answers

This ty-pe of ex-change is the opp-osite of systemic gas exchange. This hap-pens in the lungs bet-ween the alveoli and a network of tiny blood ves-sels called capillaries, which are loca-ted in the walls of the al-veoli.

Oxy-gen and carbon dioxide diffuse bet-ween the alveoli and pulm-onary capillaries in the lungs, and bet-ween the systemic capillaries and cells through-out the body. The diffusion of these gases, moving in opp-osite directions , is called gas exc-hange.

During gas exch-ange oxygen moves from the lu-ngs to the blood stream. At the same tim-e carbon dioxide pas-ses from the blood to the lu-ngs.

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Question 4(Multiple Choice Worth 4 points)
(01.04 LC)
Which of the following will change because of a change in price?
O Demand
O Equilibrium demanded
O Supply
O Quantity supplied

Answers

Answer: Sorry I'm late. (Very) But, the answer is A. Demand.

Explanation: If price increases, demand decreases, and vise versa.

Because of a change in price, the Demand will change as well. Thus the correct option is A.

What is demand?

When the willingness of an individual to buy any product is increased it gives rise to the demand. This willingness will shift with a change in the price or quality.

Demand for low-quality items decreases when an individual's income grows because of greater purchasing power, and demand rises when an individual's income decreases because of lower purchasing power.

If a good is in higher or lower demand, a variety of factors play a role in making the change. This includes the price of the product, how well buyers respond to change the price, the amount of money spent on product advertising, and so forth.

Therefore, option A Demand is appropriate.

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an example of a non-pecuniary job characteristic is

Answers

Answer:

A comfortable work environment.

Explanation:

the agent has the right to be compensated, to be reimbursed and indemnified, and to have a safe working environment. what other right does the agent also have in performing his agency duties?

Answers

The agent seems to have the right to be compensated, reimbursed, and indemnified, as well as to work in a safe environment. An agent may also perform agency duties without interference from the principal.

What are the duties of an agent?As a general rule, an agent is only entitled to indemnity from the principal if they act within the scope of their actual authority; otherwise, they may be in breach of contract and liable to a third party for breach of the implied warranty of authority.In the event of a breach of duty by the agent, the principal has the right to sue for damages. Agents are responsible for the following tasks: Section 211 states that an agent must act within the scope of authority delegated to him by his principal. He must also strictly adhere to his principal's instructions.An agent has several rights and responsibilities. Rights include the right to remuneration, the right to indemnity, the right of retainer, the right to lien, and the right to compensation.

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NAME 2 BENEFITS OF SETTING UP A FRANCHISE?

Answers

Business assistance. One of the benefits of franchising for the franchisee is the business assistance they receive from the franchisor


And

Be your own boss

Why very few subsistence economies exist today

Answers

Answer:

As previously mentioned,

subsistence markets are

extremely vulnerable to

external influences.

Because of this

vulnerability, these economies are

becoming more scarce around the

world. In the past, for example, large

populations of indigenous peoples lived

throughout North America.

Select the word or phrase that accurately completes each sentence.

Pressing the Backspace key will delete the text on the .

Pressing the Delete key will delete the text on the .

Answers

Answer:

Pressing the backspace key will delete the text on the leftPressing the delete key will delete the text on the right

Explanation:

Megan is already looking ahead to graduation and a job, and she wants to buy a new car not long after her graduation. If after graduation she begins an investment program of $2,300 per year in an investment yielding 6 percent, what will be the value of the fund after three years? (Hint: Use Appendix A.3 (Links to an external site.) or the Garman/Forgue companion website.) Round Future value of Series of Equal Amounts in intermediate calculations to four decimal places. NO cents! DOLLARS ONLY

Answers

Answer:

$ 7,322  

Explanation:

$2300 per year is an annuity investment. The formula for future annuity value is as below

FV  =  A  × (1 + r)^n - 1 / r

                           

Where A = amount invested periodically

r = interest rate, 6% or 0.06

n = 3 years

Fv = $2300 x{ (1 +0.6)^3 -1} /0.06

Fv  = $2300 x (1.191016-1) /0.06

Fv  = $2300 x  ( 0.191016/0.06)

Fv =  $2300 x  3.1836  

Fv=  $ 7,322.28

Fv= $ 7,322  

 

“The needs of a society conflict with the goals of the financial services industry’s desire to make a profit.” Do you agree or disagree?

Answers

Answer:

I do not agree that "the needs of a society conflict with the goals of the financial services industry's desire to make a profit", but on the contrary, I consider that the economic objectives of the financial system contribute to the well-being of the individuals that make up society, with which they satisfy the needs of this in an indirect way.

I believe this because the financial system, through its will to profit, creates jobs and economic opportunities for individuals, who would otherwise be forced to meet their needs without the help of a system designed to profit as a result of work done (such as communism).

If an economy is in recession, discuss the differing effects created by a tax cut vs. A GDP-G increase to close the gap. Use the concept of multipliers in your answer.

Answers

Answer:

Explanation:

increase government spending will result in increased aggregate demand, which then increases the real GDP, resulting in an rise in prices. ... Conversely, to close an expansionary gap, the government would increase income taxes, which decreases aggregate demand, the real GDP, and then prices.

Economic recession takes place because of fluctuation within the variation. When the contraction point of the trade cycle prolongs or stays for quite six months then recession takes place in an economy. it's a situation when the entire economy shrinks down.

GDP

when increased government spending will end in increased aggregate demand, which then increases the 000 GDP, as a lead to an increase in prices. Also Conversely, to shut an expansionary gap, the govt. would increase income taxes, which decreases aggregate demand, the important GDP, and also then prices.

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Richard’s annual college expenses are expected to total $17,745. He will receive $5,320 in grants. How much will Richard need to contribute to his annual college expenses?
$11,425
$11,465
$12,425
$12,465

Answers

Answer:

$12,425

Explanation:

Richard we will contribute the difference between the expected annual expenses and the grant.

Expected expenses = $17,745

Grants, $5,320

Richard Contribution :

=$17,745 - $5,320

=$12,425

Answer:

the answer is C. 12,425

Explanation:

What expansionary fiscal tools can be used to promote employment and economic growth when price levels are not a concern?

Answers

Expansionary fiscal tools can be used to promote employment and economic growth when price levels are not a concern including increasing government spending, decreasing taxes, or increasing government transfers.

What is the purpose of expansionary fiscal tools?

The purpose of expansionary fiscal tools is to augment growth to a healthy economic level, which is significantly required during the contractionary phase of the business cycle.

In this phase, the government has the desire to decline the standard of unemployment, enhance consumer demand, and circumvent a recession. If a recession has already taken place, then it searches to end the downturn and prevent a recession.

According to the context of this question, each expansionary fiscal tool has its own terms and condition which is imposed on the basis of certain criteria. For this, enhancing the spending of the government, reducing the taxation rates, increasing the transfer made by the government, etc. are the major ones.

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Baxter is looking over his monthly budget. Specifically, he's considering the direct deposits that came through this week from his job with a biotech company and from the tenant who rents a small condo that he owns. What kind of money is Baxter reviewing?
A. income
B. inflation
C. personal risk
D. opportunity cost​

Answers

I believe the answer you are looking for is A. Income

Answer:

A, "Income"

Explanation:

Gradpoint

Is competition good for business?
Is it good for consumers?

Answers

It helps promote better safety, innovation and technology—and lower prices. it benefits consumers by keeping prices low and the quality and choice of goods and services high.

Answer:

yes and yes

Explanation:

Do you think that marketers view the changes taking place in promotions and advertising as exciting or burdensome challenges? Explain.

Answers

Answer: Burdensome

Explanation: Because they may now have to change their ideas they had planned prior to the changes, because these ideas may not market as well as they would have before the changes.

Marilyn wants to use a non-price competitive marketing strategy to gain more customers. Which of the following might she use?

Marilyn wants to use a non-price competitive marketing strategy to gain more customers. Which of the

Answers

Answer:

promotion or higher prices

Describe at least three key issues in sales gained from chapter 2 in the text and the supplemental sources that focus on each of the following areas: 1. Organizational sales goals 2. Structure of sales operations 3. Current issues in sales management Explain why you believe each of the issues identified is highly relevant in selling today and how they could potentially be addressed. Support your arguments with evidence from the supplemental materials and text. Provide examples from your experience if applicable

Answers

Organizational sales goals: One key issue is the misalignment between sales goals and overall organizational objectives.

What can this lead to?

Sales teams may focus on obtaining immediate profits, disregarding the importance of maintaining lasting connections with customers. In order to deal with this issue, it is important for organizations to set definite goals that prioritize the needs of the customers while also being in line with the company's mission and values.

Structure of sales operations: Another issue is the lack of integration and coordination between different sales channels (e.g., field sales, inside sales, e-commerce). This can lead to disjointed customer experiences and inefficiencies. To address this, companies should implement a holistic approach to sales operations, integrating various channels and leveraging technology.

For instance, Salesforce's State of Sales Report (2020) highlights the importance of adopting tools like CRM systems to centralize customer data and streamline communication across channels.

Current issues in sales management: One relevant issue is the need for effective sales coaching and development programs. Many sales managers lack the necessary skills and resources to coach their teams effectively.

To address this, organizations should invest in comprehensive training programs for sales managers, focusing on coaching techniques, leadership skills, and performance evaluation. The Sales Management Association's research report (2019) emphasizes the positive impact of well-designed coaching programs on sales performance and employee engagement.

By addressing these key issues, organizations can enhance their sales effectiveness, improve customer satisfaction, and drive long-term success in today's competitive selling environment.

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What is a plan for how much to spend and how much to save of ones earnings called?
A. a wish list
B. a personal budget
C. a saving account
D. an investment portfolio

Answers

The answer is c hoped this helped

Which industry is Amazon involved in ?​

Answers

Answer:

Cloud computing e-commerce artificial intelligence consumer electronics digital distribution self-driving cars

Explanation:

Answer:

Cloud computing e-commerce

Explanation:

it is used for artificial intelligence or the use of robots

when communicating student exam results to stakeholders, it's important to ensure that they have a clear understanding of the context, methods, and results of the assessment data. this includes which of the following? select all that apply:

Answers

The main objective of any communication of assessment results should be to inspire action. Accordingly, outcomes have the highest likelihood .

How do you inform pupils of assessment results?

Gratitude for taking the test is due. Recognize that you are aware that exams are typically difficult. In order to make your learning as relevant as possible when you are enrolled in the ABE program, explain what the score can inform the student and teacher (we can know where your strengths are and where we need to focus your lessons).

How do you inform stakeholders of evaluation results?

A centralized and open source for all test results must be established in order to convey test results to stakeholders. Once that has been done, the link needs to be sent via email to every team member so that everyone can access them, including stakeholders outside the testing team.

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Which statement explains how a credit card is a form of financial exchange?

A credit card can be used to pay for goods, and the charges are immediately deducted from the user's account.

A credit card can be used to pay for services, and the user agrees to pay these charges at a later time.

Each credit card has a certain monetary value, which users exchange with each other like currency.

Credit cards are paper documents that users write on to indicate the amount being paid to a merchant.​

Answers

Answer:

A credit card can be used to pay for goods, and the charges are immediately deducted from the user's account.

A twenty-year loan of $25,000 is negotiated with the borrower agreeing to repay principal and interest at 5%. A level payment of $1,500 will apply during the first ten years, and a higher level payment will apply over the remaining ten years. Each time the lender receives a payment from the borrower, he will deposit the portion representing principal into a sinking fund with an annual effective interest rate of 4%. (This is the amount for replacement of capital.) What is the lender's yield rate on this entire investment?

Answers

The present worth of the interest payments is  $262,715.96.The lender's yield rate on the entire investment is 4.46%.A level payment of $1500 will apply during the first ten years, and a higher level payment will apply over the remaining ten years.

A twenty-year loan of $25,000 is negotiated with the borrower agreeing to repay principal and interest at 5%.

Each time the lender receives a payment from the borrower, he will deposit the portion representing principal into a sinking fund with an annual effective interest rate of 4%. The amount of the sinking fund is for the replacement of the capital.

Using the formula: \((Sinking fund) = Principal (P) x 1 + i^(n) [((1+i)^n-1)/i],\)

The first ten years will require sinking fund deposits at an annual effective interest rate of 4% of:

\((1500 × 1 − 1.04^-10)/0.04 = 12069.54.\)

The remaining ten years will require sinking fund deposits at an annual effective interest rate of 4% of:

\((PMT (10) - 1500 × 1 − 1.04^-10)/0.04 = 24580.07\)

Total required sinking fund deposits are \($12,069.54 + $24,580.07 = $36,649.61.\)

The lender will receive a total amount of $28,510 in interest payments over the twenty-year term of the loan.

Using the present worth of an annuity formula:

(PMT/i) x (1 - 1/(1+i)^n), the present worth of the interest payments is:

\(PV = $28,510 x (1 - 1/1.05^20) / 0.05 = $262,715.96.\)

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Jim is an accountant who reimburses travel expenses for company employees who have used personal funds for travel. Tom, a company sales rep, has requested a reimbursement for a $200 dinner. However, Tom does not have proper documentation which means the expense cannot be reimbursed. Tom offers to split the reimbursement with Jim, if Jim will approve it without the documentation. Jim should

Answers

The inference shows that Jim should reject the reimbursement as confidentially report the incident.

What is an inference?

An inference simply means the conclusion that can be deduced based on the information given in a literary work.

In this case, the inference shows that Jim should reject the reimbursement as confidentially report the incident.

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