Bank reconciliation, The following data were accumulated for use in reconciling the bank account of Kaycee sisters Inc. for August 20y9: a. Cash balance according to the company's records at august 31, $14,190. b. Cash balance according to the bank statement at August 31, $18,330. C. Checks outstanding, $5,710. D. Deposit in transit, not recorded by bank, $2,150. E. A check for $180 in payment of an account was erroneously recorded by kaycee sisters Inc. as $810. F. Bank debit memo for service charges, $50. prepare a bank reconciliation, using the format show in Exhibit 12.

The law of demand is the assertion that ?

If you offer up your car as a demonstration that you will pay off your loan to a bank or another financial lending institution, you are using your car as collateral. true false

Which of the following statements is correct? large corporations are taxed more favorably than sole proprietorships. corporate stockholders are exposed to unlimited liability. due to limited liability, unlimited lives, and ease of ownership transfer, the vast majority of u.s. businesses (in terms of number of businesses) are organized as corporations. most businesses (by number and total dollar sales) are organized as partnerships or proprietorships because it is easier to set up and operate in one of these forms rather than as a corporation. however, if the business gets very large, it becomes advantageous to convert to a corporation, mainly because corporations have important tax advantages over proprietorships and partnerships. most business (measured by dollar sales) is conducted by corporations in spite of large corporations’ often less favorable tax treatment, due to legal considerations related to ownership transfers and limited liability.