You Have Recently Started a Part Time Job in the Accounting

question 67

Essay

You have recently started a part time job in the accounting department of Home Energy Limited. The accountant, Joe Kool, had prepared the company's bank reconciliation for June 2018. After completing the reconciliation he made the following journal entry: Joe was reviewing the bank reconciliation with you when unfortunately you spilled your coffee on it. He asks you to rewrite the reconciliation, in good form. He remembers that the only outstanding deposit was the last deposit for the month. You check the general ledger and the bank balance at June 30 was $24,527 (credit). You also check the bank statement and the balance was $22,314 (debit on the bank statement, that is, overdrawn). You look up the last deposit for the month-it was for $21,789.InstructionsUsing the above information prepare, in good form, the bank reconciliation for Home Energy Limited for June.

Recognize the structural aspects and legal characteristics of partnerships.

Differentiate between various forms of business organizations, including hybrid forms.

Grasp the implications of partner admission and withdrawal on the partnership's capital and assets.

Understand the allocation of profits, losses, and liabilities among partners.

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Definitions:

Self-efficacy

A person's confidence in their ability to carry out actions required to achieve certain outcomes.

Social Persuasion

A method of influencing a person's beliefs, attitude, or behavior through verbal or nonverbal communication.

Conversational Efficacy

The ability to effectively engage, exchange information, and achieve desired outcomes in conversational interactions.

Self-rewards

Rewards that individuals give to themselves, often as a way to motivate or reinforce particular behaviors.