On a bank reconciliation, an unrecorded debit memorandum for printing checks is:
A. Noted as a memorandum only.
B. Added to the bank balance of cash.
C. Added to the book balance of cash.
D. Deducted from the bank balance of cash.
E. Deducted from the book balance of cash.
Answer: E
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Walton reported sales of $640,000, fixed costs of $314,000, and a profit of $92,000. If the contribution margin is $8 per unit, how many units did Walton sell?
A) 11,500 units B) 31,125 units C) 50,750 units D) 70,375 units
All of the following are logical uses of transaction processing systems, EXCEPT ______.
a. evaluating the possible effects of alternative decisions b. recording of sales transactions c. processing of checks and deposits d. buying and selling of stocks
The ____________________ value of a sequence cannot be changed if the sequence has already generated a number greater than that value
Fill in the blank(s) with correct word
The Ornate Company produces a single product and has total costs ranging from $321,875 (at 20,000 units) to $966,875 (at 80,000 units). Sales volume in 2020 was 32,000, and operating income was $45,125. Ornate's product is highly specialized; therefore, no units are kept in inventory.Required:(a.) Determine the cost equation for Ornate's costs.(b.) Prepare a contribution margin income statement for 2020 including separate columns for total dollars, per unit dollars, and percentages.(c.) Determine the break-even point (in units and in dollars).
What will be an ideal response?