52. With respect to the bank reconciliation which is correct?
A. Subtract outstanding checks from the company's balance.
B. Add deposits in-transit to the company's balance.
C. Add service charge to the company's balance.
D. Subtract NSF checks from the company's balance.
E. Subtract interest earned from the bank's balance.

Answers

Answer 1

When doing a bank reconciliation, the correct procedure is to D. Subtract NSF checks from the company's balance.

What is an NSF check?They stand for Not Sufficient Balance.They mean that the person who deposited the check did not have enough money in their account to honor the check.

As a result, the company would not get that money so this amount needs to be subtracted from the company account to show that the company never received this money.

In conclusion, option D is correct.

Find out more on bank reconciliation at https://brainly.com/question/15525383.


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the answer is isStratum

Personal Financial
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Answer:

You would have to answer this because I dind't read the story.

Explanation:

Columbia Bank & Trust has just given you a $20,000 term loan to pay for a new concrete mixer. The loan requires five equal annual end-of-the-year payments. If the loan provides the bank with a 12 percent return, what will be your annual payments?

Answers

Answer:

$5,548.19

Explanation:

According to the scenario, computation of the given data are as follows,

Principal payment (p)= $20,000

Rate of interest (r) = 12%

Time period (t) = 5

So, we can calculate the annual payment by using following formula,

Annual payment = [p×r×[tex](1+r)^{t}[/tex]] ÷ [ [tex](1+r)^{t}[/tex]-1]

By putting the value, we get

= [$20,000×0.12 [tex](1+0.12)^{5}[/tex]] ÷ [[tex](1+0.12)^{5}[/tex]-1]

By solving the equation, we get

= $5,548.19

Hence, the annual payment will be $5,548.19.

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