_________________________ describes a form used by the accountant to reconcile the balance shown on the bank statement for a particular account with the balance shown in the accounting records
Fill in the blank(s) with correct word
Bank reconciliation
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What is meant by the term clean surplus accounting?
Beginning inventory for the month contained 3,000 units that were 60 percent complete with respect to materials. During the month, 50,000 units were completed and transferred out. Ending inventory contained 5,000 units, 30 percent complete with respect to materials. The weighted average equivalent units of production for materials for the month would be
A) 50,000 B) 51,500 C) 50,300 D) 49,500
A random sample of ten examination papers in a course that was given on a pass or fail basis showed the following scores. Paper Number Grade Status 1 65 Pass 2 87 Pass 3 92 Pass 4 35 Fail 5 79 Pass 6 100 Pass 7 48 Fail 8 74 Pass 9 79 Pass 10 91 Pass ? a.What is the point estimate for the mean of the population?b.What is the point estimate for the standard deviation of the population?c.What is the point estimate for the proportion of all students who passed the course?
What will be an ideal response?
Smith's of Dallas agreed to buy $10,000 worth of dresses F.O.B. Dallas from Magnifique Manufacturing Co in New York for their October 1 Fall Showing. The cost of shipping the dresses is $300 . In New York, Magnifique dresses were the rage, but the boom
had not yet reached Dallas. By September 15, Smith's realized that the shop could not afford all of these dresses and called Magnifique to cancel the contract before the goods were shipped. On September 15, the market price for the dresses in New York was $9,000 and in Dallas, $5,000 . On October 1, the market price had risen to $9,500 in New York and to $7,000 in Dallas. What may Magnifique do? What damages may be sought from Smith's?