the initial investment should be 23204.46 of the amount is called the present value of $60,000 due 17 years from now.
Funding is the dedication of money to the purchase of an asset to achieve growth in value over a period of time. Investment requires a sacrifice of a few gift assets, together with time, cash, or effort.In finance, the motive of making an investment is to generate a return from the invested asset. The go-back might also include a gain (earnings) or a loss found out from the sale of a property or an investment, unrealized capital appreciation (or depreciation), or funding earnings which includes dividends, hobby, or apartment income, or a mixture of capital gain and earnings. The return can also encompass currency profits or losses due to modifications in overseas forex prices. Traders generally assume better returns from riskier investments. Whilst low-threat funding is made, the go-back is also generally low. Further, the excessive hazard comes with a hazard of high losses. Investors, in particular beginners, are regularly cautioned to diversify their portfolios. Diversification has the statistical effect of lowering basic chance.
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nike sells golf clubs, swim wear, as well as footballs. however, nike is best known for its performance in designing and marketing of athletic shoes. this is known as nike's
This is known as Nike's core competency when Nike sells golf clubs, swim wear, as well as footballs. However, Nike is best known for its performance in shoes.
A Core Competency is a deep proficiency that allows a business to provide customers with unique value. It represents a company's collective learning, particularly how to co - ordinate varied production skills and combine various technologies. It is defined as "a coordinated combination of multiple resources and skills that distinguishes a firm in the marketplace" and is thus the foundation of a company's performance.
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The firm – stop producing additional units. If marginal product is – , the firm should continue production if it can sell the output for more than the – costs.
The firm should not necessarily stop producing additional units. If the marginal product is still high, the firm should continue production if it can sell the output for more than the input costs.
A firm is a for-profit business entity that offers professional services, such as a corporation, limited liability company (LLC), or partnership. The change in output that results from using one extra unit of a certain input, given that the quantities of other inputs are held constant, is known as the marginal product or marginal physical productivity of an input.
The relationship between marginal cost and the marginal product is inverse: as one goes up, the other automatically goes down accordingly, and vice versa. The law of diminishing returns, a key idea in economics, can be used to explain the connection between marginal cost and marginal product.
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the multiplier applied to earnings per share to determine current value of the common stock. multiple choice question. price-earnings ratio liquidity ratio return on capital earnings per share
Price-earnings ratio is the multiplier used to multiply earnings per share in order to calculate the common stock's current worth.
The price-to-earnings ratio evaluates the current share price in relation to the company's earnings per share (EPS). Other names for the price-to-earnings ratio include the price multiple and the earnings multiple.
Investors and analysts use Price-earnings ratio to evaluate a company's shares fairly in an apples-to-apples comparison. A company's performance can also be evaluated against its prior performance, and aggregate markets can common stock's be contrasted with one another or through time.
One of the methods that analysts and investors most frequently use to assess a stock's relative value is the price-to-earnings ratio (P/E). The P/E ratio aids in identifying common stock's an undervalued or expensive stock. The P/E ratio of a firm may also be compared to those of similar companies' equities or to the market as a whole, such as the S&P 500 Index.
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on september 1, your calendar year company rents a machine to another firm for $24,000 a year. if, at year-end, $15,000 has been received and recorded in rent revenue, what adjusting entry do you record at year-end?
Rent revenue 7,000
Unearned rent revenue of 7,000, is the adjusting entry record at year-end.
Sales and earnings are both nicely signs and symptoms for your commercial enterprise, however, they're now not interchangeable terms. each constitutes a crucial manner to apprehend your business. income describes profits generated through company operations, at the same time as income describes net income after deducting costs from income.
In accounting, revenue is the general amount of profits generated with the resource of the sale of goods and offerings related to the primary operations of the agency. commercial enterprise sales can also be referred to as income or as turnover.
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junhua is in charge of maintaining all the computers in the organization. additionally, whenever an employee has a problem with their computer, they call junhua. what type of power does junhua have in this organization?
Junhua has expert power in this organization. Expert power is a form of personal power, which implies that anyone, regardless of position, can cultivate it.
These types of power are frequently confused. Expert power is derived from experience or expertise, but role is frequently used as a proxy for expertise.
Expertise is a valuable asset to have. It provides managers with a strong power structure from which they can confidently manage people. In order to effectively lead people, professor of management Gary A. Yukl believes that expert power is more essential than reward-based or coercive power.
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a tariff is a: limit on the quantity of a good that can be exported. tax on imported products. tax on exported products. limit on the quantity of a good that can be imported.
A tariff is a tax on imported products Option(b) is correct. Tariffs are among the most broadly utilized instruments of protectionism, alongside import and commodity shares.
What is a Tariff?A Tariff is a tax forced by the public authority of a nation or by a supranational association on imports or products of merchandise.
Other than being a wellspring of income for the public authority, import obligations can likewise be a type of guideline of unfamiliar exchange and strategy that taxes unfamiliar items to support or protect homegrown industry.
Tariffs can be fixed (a steady total for each unit of imported products or a level of the cost) or variable (the sum fluctuates as per the cost). Taxing imports implies individuals are less inclined to get them as they become more costly.
Therefore Option(b) is correct.
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the following information is available: units in process, jan. 1 (60 percent converted) 2,000 units units in process, jan. 31 (30 percent converted) 1,000 units units started during the month 7,500 units total conversion costs accounted for during the month $237,600 materials are added at the beginning of the process. what is the cost per equivalent unit for conversion in jan. using the weighted average method?
The cost per equivalent unit for conversion in Jan. using the weighted average method is $30.
Under weighted average method,
Beginning inventory 2,000
Units started during the month 7,500
Ending inventory -1,000
Units completed and transferred out 8,500
ConversionUnits completed and transferred out 8,500
Ending work in process [1,000 x 30%] 300
Total equivalent units 8,800
ConversionCosts incurred $264,000
÷ Total equivalent units 8,800
= Cost per equivalent unit $30
Understanding the value of partially finished products to a corporation is done using the notion of equivalent units of production. They are helpful for process costing, or the study of cash flow in the production process.The amount of labour put into a specific quantity of physical goods is measured in equivalent units. You may easily determine equivalent units by multiplying the quantity of physical goods by the amount of work done on them.Learn more about Equivalent units, here
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(this might sound like a silly question)
How have stuffed animals changed our lives? (make our lives better)
Having stuffed animals have indeed changed human lives and made them better by providing them with a sense of comfort and security.
What are the benefits of stuffed animals?Stuffed animals seem to have become an integral part of the lives of children as they are seen as companions and playthings by these children to keep from being bored and to have another source of friendship.
Stuffed animals are not limited to helping children alone however, because there are adults who enjoy having the company of stuffed animals for a variety of reasons ranging from cuddling to proof of affection from a loved one.
Some might think that it is silly to assume that stuffed animals have made human life better but they would be wrong. Research has shown that people who use stuffed animals feel a sense of comfort and safety when they are around these animals which is hugely important.
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the audit report is important to the audit opinion formulation process since it communicates relevant information to the financial statement users, both internal and external, resulting from the audit.
It is TRUE that the audit report is important to the audit opinion formulation process since it communicates relevant information to the financial statement users, both internal and external, resulting from the audit.
A company's financial statements must adhere to generally accepted accounting standards (GAAP) and be free of major misstatements to be included in an auditor's report, which is a written letter from the auditor expressing their view.Usually, the company's annual report is released along with the report of the independent and external audit. The importance of the auditor's report stems from the fact that before making a loan to a firm, banks and creditors want an audit of its financial accounts.A report that is unqualified indicates that there may be problems whereas a report that is clean indicates that the organization followed accounting rules.An unfavorable report implies that the financial statements may have been inconsistent, inaccurate, or out of compliance with GAAP.Learn more about Audit report, here
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a price ceiling is a government-mandated group of answer choices minimum price below which legal trades cannot be made. maximum price above which legal trades cannot be made. minimum price above which legal trades cannot be made. maximum price below which legal trades cannot be made.
A price ceiling is a government-mandated maximum price above which legal trades cannot be made.
What is price ceiling?A price ceiling is a cap placed on the amount that can be charged for a good, service, or commodity by the government or another organization. The stated purpose of price caps is to shield customers from circumstances that would make items too expensive.
In New York City, for instance, officials establish price caps, or maximum rent rates, on each housing unit based on its maintenance and running costs. Until they reach that ceiling, the landlord may raise rent by 7.5% every two years to meet costs.
A price can't increase above a specific point because to price ceilings. When a price ceiling is set below the equilibrium price, supply will exceed demand, leading to shortages or excess demand. Prices are protected from falling below predetermined levels by price floors.
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a. a public good is multiple choice 1 nonrival but excludable. rival but nonexcludable. rival and excludable. nonrival and nonexcludable. b. public goods are not privately provided because multiple choice 2 when goods are nonexcludable, there is too much competition for firms to earn a profit. when goods are nonrival, there is too much competition for firms to earn a profit. when goods are nonexcludable, those purchasing the good could allow others the use without requiring compensation. when goods are nonrival, those purchasing the good could allow others the use without requiring compensation.
A public good is both non rival and non excludable, because when goods are nonrival, there is too much competition for firms to earn a profit.
What are public good?Public good can be described as the commodity or service which can be access by all the member of the society in general, it can be seen as a those goods that are been provided by the government as a result of the money that is been generated by through the tax that is been collected from the member of the public.
It should be noted that when a good is been considered as nonrival goods then the goods can be seen as a result of the competition in the industry from those firms because they want to make so much profit hence the name non rival goods.
Therefore, option A is correct and option second option is correct.
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This positioning strategy highlights product use, as well as the exclusive services associated with that product, that competing products do not offer. True or false?.
It is a true statement that in application as competitive advantage, the positioning strategy highlights product use and exclusive services associated with that product that competing products do not offer.
What is known as Positioning Strategy?As most consumers would say that an innovative products, competitive pricing and excellent service are synonymous with these companies, then, an important step in developing key operational strategies depends upon how a company positions itself in the marketplace.
Basically, a positioning strategy refers to when a company chooses one or two important key areas to concentrate on and excels in those areas. This strategy often focuses on how it will compete in the market. So, an effective positioning strategy is expected to considers the strengths and weaknesses of the organization, the needs of the customers and market and the position of competitors.
In conclusion, the main purpose of a positioning strategy in marketing is that it allows a firm to spotlight specific areas where they can outshine and beat their competition.
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shakira starts selling various homemade crafts in her front yard each saturday morning. she can not afford an attorney and so she does not prepare any paperwork. shakira's business is most likely a(n):
Shakira's business is most likely an: Sole Proprietorship
What is a Sole proprietorship?
Sole proprietorship is when a single person carries out the business on his own risk . He as an entrepreneur bears all loss and profit of the business and holds unlimited liability.
What is the main purpose of sole proprietorship?The main advantage of a sole proprietorship are the pass-through tax advantage, the easily creation, and the low fees for creation and maintenance. With a sole proprietorship, you don't requires to fill out a large amount of paperwork, like registering with your state.
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on april 1, year 1, maine corporation paid $10,100 cash in advance for a one-year lease on an office building. assume that maine records the prepaid rent as an asset and that the books are closed on december 31.
The payment for one-year lease and the related adjusting entry in order to recognize rent expense in an accounting equation is shown below.
Maine Corporation
The Accounting equation for the year of 2016 is shown
Event Cash Prepaid rent = Common stock
Retained earnings
Paid rent in advance ($10,100) $10,100 =
Adjusted rent expenses ($8,383) = ($8,383)
Total ($10,100) $1,717 = $8,383
Shown below is the calculation of adjusted rent expense -
The adjusted rent expenses = The prepaid rent × No. of months /Total months in a year.
= $10,100 × 10 / 12
=$8,383
Hence, so the adjusted rent expenses are $8,383.
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market cannibalization occurs when: group of answer choices the firm neglects product differentiation. technology makes all the difference. other companies take market share. a firm adopts a loss leader strategy. none of these answers is correct.
Marketplace cannibalization happens while: Correct Option is - The corporation neglects product differentiation.
The required details for Marketplace cannibalization in given paragraph
Market cannibalization is a income loss as a result of a company's advent of a brand new product that displaces one in every of its very own older merchandise. Market cannibalization can arise while a brand new product is just like an present product and each percentage the identical patron base. The cannibalization of present merchandise ends in no boom within side the company's marketplace percentage in spite of income increase for the brand new product.
Market cannibalization can arise while a brand new product is just like an present product, and each percentage the identical patron base. Cannibalization also can arise while a series shop or speedy meals outlet loses clients because of every other shop of the identical logo beginning nearby.
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a regular is a system where you can exchange goods for other goods. you submit your goods and you receive trade credit that you can use to buy other goods
To trade products for other goods is the definition of a typical barter exchange system. A good exchange is one that involves bartering. Previously, when there was no exchange of money, it was done.
A barter exchange is a business that acts as both a bank and a third party, coordinating the value of each member's account and the value of barter transactions amongst the organization's members. Every trade participant of a barter exchange receives a monthly accounting as well as year-end tax reporting of their barter transactions.
The majority of barter exchanges are local or regional, and many of them offer online catalogs of goods and services. Your trade Trade Account is debited when you make purchases from other exchange members, and credited when you make sales to other members.
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The complete question is
Today, a regular _____________ is a system where you can exchange goods for other goods. You submit your goods and you receive trade credit that you can use to buy other goods.
a. world market
b. barter exchange
c. world trade center
d. trading post
the lojack car recovery system allows the police to track stolen cars. as a result, they not only recover 90 percent of lojack-equipped cars that are stolen but also arrest many auto thieves and shut down many "chop shops" that rip apart stolen vehicles to get their parts. if the government subsidized lojack purchases, it would
Yes, the government should offer consumer subsidies to encourage the purchase of the LoJack car recovery system. Subsidies have an impact on market incentives.
If consumers receive subsidies for acquiring the recovery system, they will be able to increase their usage at the same price as before. To boost consumption, the government can provide a subsidies, encouraging purchases by shifting the demand curve. Subsidies have an impact on market incentives. The new optimal and efficient output level maximizes societal welfare while minimizing efficiency loss.
Here is the complete question-
The LoJack car recovery system allows the police to track stolen cars. As a result, they not only recover 90 percent of LoJack-equipped cars that are stolen but also arrest many auto thieves and shut down many “chop shops” that rip apart stolen vehicles to get their parts. Thus, LoJack provides both private benefits and positive externalities. Should the government consider subsidizing LoJack purchases?
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Carson always feels like he is putting out fires at work and does not get an opportunity to figure out where problems might arise before they occur. Carson is dealing with ______ change.
Carson feels that he is not getting opportunity to figure out where problems might arise before they occur, he is dealing with reactive change.
Change that is implemented in a company as a consequence of external factors is known as reactive change. For example, the introduction of a new employee benefit plan is proactive since leadership is confident that it will increase satisfaction and motivation among employees. If the benefits plan was implemented in response to requirements made by employees, the change would be reactive change.
Reactive change management entails the execution of modifications in response to a need, a possibility, or an unexpected circumstance in the company. When you have a process or contingency strategy in place, you can adapt to changes constructively and systematically.
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a(n) business strategy is typically a combination of deliberate and emergent strategy initiatives. (remember to place only one word in the blank.)
A realized business strategy is typically a combination of deliberate and emergent strategy initiatives.
What does the Realised strategy depend on?
The first determinant of realized strategy is emergent strategy—the decisions that occurs from the complex processes in which individual managers delivers the intended strategy and adapt to changing external circumstances.
What are different levels of strategy?The three levels are corporate level strategy, business level strategy, and functional strategy. These different levels of strategy allows business leaders to build business goals from the upper corporate level to the bottom functional level.
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zelda wants to move into a subdivision with her giraffe. which of the following would determine whether or not she could move into a home and keep her giraffe on the property? select one: a. police power because the police determine which pets are allowed in residential properties. b. building codes. c. urban planning with a restriction on regulating pets. d. zoning ordinances.
Zoning regulations, or option (d), is the answer that is right. Zoning ordinances because they frequently stipulate what kinds of animals are permitted in residential areas.
Zoning Ordinance: What Is It?An regulation known as a zoning code specifies the permitted uses for real estate within particular geographic zones. The applicability of particular geographic zones for residential or commercial uses is specified in zoning rules.
limits imposed by structural factors, such as building height and scale. For instance, a neighborhood may allow shopping but not big-box retailers. Height restrictions are also typical. This could enable a neighborhood to achieve a manageable density without using up the area's infrastructure and greenspace excessively.
What are municipal zoning laws supposed to control?Local laws govern how property is used and developed. The zoning code establishes the permitted uses for each of the land use districts or "zones" that the zoning maps that split the city or county into show.
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this year luke has calculated his gross tax liability at $1,800. luke is entitled to a $2,400 nonrefundable personal tax credit, a $1,500 business tax credit, and a $600 refundable personal tax credit. in addition, luke has had $2,300 of income taxes withheld from his salary. what is luke'
Luke determined that his total tax obligation was $1,800. Luke can claim a $1,500 company tax credit, a $600 refundable personal tax credit. $600.00 is Luke's non-refundable credit (1800-2400).
Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs.
A tax is a mandatory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures. Around 3000–2800 BC, Ancient Egypt experienced the first recorded taxation.
Laws have been established to penalize late payments as well as tax evasion and resistance. Direct taxes and indirect taxes can be paid in cash or in the work equivalent.
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Staintation has $70 million in assets and $50 million in owners’ equity. How much does the firm have in liabilities?
The firm has $20 million in liabilities. through the accounting concepts i.e., assets = owners equity + liabilities.
The accounting equation is the formula that states that the sum of a company's liabilities and equity equals its total assets (Assets = Liabilities + Equity). The unique relationship between a company's liabilities, assets and equity is the backbone of double-entry bookkeeping.Accounting equations are the basis of double-entry bookkeeping. The balance sheet formula shows that on a company's balance sheet, the company's total assets equal the sum of its liabilities and the company's equity. assets represent valuable resources managed by the company. Liabilities represent its obligations.Liabilities and equity both describe how a company's assets are financed.Debt financing is presented as debt and equity financing is presented as equity. increase.Thus, when assets equal to liabilities and owners' equity then we can easily bring out the liabilities i.e., $20 million.
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congratulations! you just won the lottery for $3.75 million. you are given the option of receiving $1.8 million now or you can receive $150,000 at the end of every year for 25 years. if you can earn 5% interest on your investments annually, what is the value of the annuity option?
The value of the annuity option is $507,953.24 if $150,000 can be received at the end of every year for 25 years with a 5% interest annually.
The value of the annuity option of the lottery in which $150,000 can be taken at the end of every year with a 5% interest can be calculated using the compound interest formula as follows;
A = P (1 + r/n)^nt
Here A represents the final amount, P represents the initial principal balance, r illustrates the interest rate, n represents the number of times interest is applied per time period and t means the number of time periods elapsed.
Substituting the values in this equation;
A = 150,000 (1 + 0.05/1)^25(1)
A = 150,000 (1 + 0.05)^25
A = 150,000 (1.05)^25
A = 507,953.24
Hence, the value of the annuity option is calculated to be $507,953.24
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a friend wants to learn how the unemployment rate is calculated and how inflation is measured. he asks you which economics course to take and you advise him to enroll in group of answer choices either micro- or macroeconomics. they both concentrate equally on those issues.
A. Macroeconomics will be the course opted to learn about unemployment rate and inflation in country.
The study of macroeconomics examines factors that have an impact on the overall economy, such as inflation, unemployment, price levels, economic growth, economic decline, and their interactions.
In macroeconomics the unemployment rate is the proportion of grown ups who are in the labour force but do not have work, not the percentage of the adult population as a whole: Unemployment rate = Unemployed people/Total labour force 100
A macroeconomic measure called inflation shows how quickly prices for goods and services are increasing overall. In the end, it demonstrates the rupee's declining purchasing power. It is quantified in percentage terms. This percentage represents the change from the prior period, either upward or downward.
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Complete Question: A friend wants to learn how the unemployment rate is calculated and how inflation is measured. He asks you which economics course to take and you advise him to enroll in?
a. microeconomics.
b. either micro- or macroeconomics. They both concentrate equally on those issues.
c. macroeconomics.
d. financial accounting because economics doesn't address those topics in its courses
The __________ view is that fdi has both benefits and costs. Fdi can benefit a host country by bringing capital, skills, technology, and jobs, but those benefits come at a cost.
The pragmatic nationalist view is that fid has both benefits and costs. Fid can benefit a host country by bringing capital, skills, technology, and jobs, but those benefits come at a cost.
What is the radical FDI perspective?According to the radical viewpoint, multinational corporations serve as imperialist instruments for exploitation of host nations. This viewpoint holds that no nation should accept FDI. By the end of the 1990s, the radical viewpoint had virtually disappeared due to the fall of communism.
What are the advantages and disadvantages of FDI to host nations?Employment growth and economic expansion.
Develop human resources.
3. Development in Regressive Areas
offering of finances and technology
Exports are increasing.
Rate of exchange stability.
Economic Development Stimulus.
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A home country wants to limit outward fdi flow. What policy should the country implement?.
Taxing domestic companies' overseas earnings at a greater rate than their domestic earnings is a home-country policy meant to restrict outbound FDI movement.
Taxing domestic companies' overseas earnings at a greater rate than their domestic earnings is a home-country policy meant to restrict outbound FDI movement. A local company will invest less abroad if its international earnings are taxed more heavily than its home earnings. They'll cut back on their FDI abroad. This will reduce the flow of FDI abroad.
A foreign enterprise or project that receives a foreign direct investment domestic (FDI) from a foreign investor, business, or government.
The phrase is typically used to indicate a commercial move to buy a sizable portion of a foreign company or to expand operations to a new domestic area. Typically, the phrase is not used to refer to a single stock investment in a foreign company. Because it establishes strong, long-lasting ties between economies, FDI is a crucial component of global economic integration.
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Answer:
Explanation:
Based on observations of what actually goes on in organization enacted values and norms are exhibited by employees
Values are something which hold importance in someone's life. These guide behaviour and help in making ethical decisions. Norms are rules that determine and regulate appropriate behaviour within the organization. Enacted values are the guidelines and norms that are actually followed by the organization’s employees on a daily basis.
Examples of enacted values and norms include accountability, honesty etc.
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the national institute of cancer used fmri brain imaging to decide which potential anti-smoking advertising campaign elicited the largest amount of brain activity. this is an example of which type of marketing research?
The national institute of cancer used firm brain imaging to decide which potential anti-smoking advertising campaign elicited the largest amount of brain activity Neuromarketing.
The very last step is to document the marketplace study's findings to folks who want the records to make decisions. The findings must be offered in a understandable layout so they may be effectively used withinside the anti-smoking advertising campaign and decision-making process.
The most important benefit of number one records is that they'll solution a selected studies query that secondary records cannot solution. Primary records are modern-day, and the supply of records is known. Observational records: watching humans and asking them questions (questionnaire records) are the 2 main methods to accumulate new or number one records for an advertising study.
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an impact that the changing industry boundaries have had is that: owners of companies can now define boundaries. there is an increase in the number of competitors within an industry. technological changes do not affect companies anymore. the pattern of customer needs does not affect companies anymore. the number of product substitutes available for customers has reduced.
The main impact that the changing industry boundaries have had is that there is an increase in the number of competitors within an industry.
What is an industry boundaries?Basically, we can define an industry boundaries simply through the products and services they offer. For instance, the airline industry is the only industry that provides air transportation from one place to another and movie theaters show films.
In marketing, the need to understand the definition of industry boundaries is important because its helps the firm to better understand who its competitors are, the firm competitive advantages, disadvantages & those of its competitors, customers & their requirements, suppliers, implications of disruptive technologies and applicable rules for its market.
Therefore, the Option B is correct.
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machines are good at low-skill, repetitive jobs, and at high-speed, extremely precise jobs. in both cases they work better than humans. this efficiency leads to a more prosperous and progressive world for everyone.
Robotic elements of human nature are replaced by machines, making people more human. Machines are good at low-skill, repetitive activities as well as high-speed, incredibly precise ones.
The end effectors, sensors, and Robotic elements are among the parts of most robots that may be changed by the operator. Batteries will require regular replacement for mobile robots. Robot arm mounts and mounting systems for fastening sensors are crucial robot accessories. It's also possible to swap out the robot's vision system. Of course, there are low-skill numerous additional smaller components as well, such as LED screens and keypads. It is outside the scope of this article to list them all.
You can get prices on robotic parts via HowToRobot. A list of more than 16,000 robotics vendors can be found on HowToRobot. This allows you to get a list of all the products that are low-skill offered. The specific parts that are best for your Robotic elements can be chosen by you. Additionally, you can assess the cost-effectiveness of rival items.
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The complete question is
Machines are good at low-skill, repetitive jobs, and at high-speed, extremely precise jobs. In both cases they work better than humans. This efficiency leads to a more prosperous and progressive world for everyone.
a check for $342 was erroneously charged by the bank as $432. in order for the bank reconciliation to balance, you must add $90 to the bank statement balance.
True. A check for $342 was erroneously charged by the bank as $432. in order for the bank reconciliation to balance, you must add $90 to the bank statement balance. The bank should credit the excess amount of $90.
What is the journal entry for bank reconciliation?Journal Entry Definition in a Bank Reconciliation When there are changes to the balance according to the books, a bank reconciliation needs journal entries. These adjustments are the result of things that were on the bank statement but were not reflected in the general ledger accounts of the business.
Charged $432 instead of $342, debiting $90 in excess that the bank ought to credit. Therefore, in the bank reconciliation, it needs to be added to the Bank balance.
Thus, the given statement is true.
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