When Preparing a Bank Reconciliation, Several Terms Are Used, Which

question 60

Essay

When preparing a bank reconciliation, several terms are used, which are listed below. Following the list is a series of definitions.
a. bank collections
b. bank reconciliation
c. bank statement
d. check
e. deposits in transit
f. electronic fund transfer
g. nonsufficient funds check
h. outstanding checks
_____ 1. Document showing the beginning and ending balances of a particular bank account listing the month's transactions that affected the account.
_____ 2. A check issued by the company and recorded on its books but not yet paid by the bank.
_____ 3. System that transfers cash by electronic communication rather than by paper documents.
_____ 4. Document instructing a bank to pay the designated person or business the specified amount of money.
_____ 5. Collection of money by the bank on behalf of a depositor.
_____ 6. A deposit recorded by the company but not yet by its bank.
_____ 7. A document explaining the reasons for the difference between a depositor's records and the bank's records about the depositor's cash.
_____ 8. A check for which the payer's bank account has insufficient money to pay the check.
REQUIRED: Match each term with its appropriate definition.

Calculate the cost of goods manufactured and understand its impact on inventory and financial statements.

Understand and identify components of manufacturing overhead.

Calculate cost of goods manufactured.

Analyze the relationship between cost of goods sold, cost of goods manufactured, and inventory levels.

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Definitions:

Overall Mood

The prevailing emotional state or general emotional background that can influence a person's perception and behavior over a period of time.

Priorities

The tasks, activities, or goals considered more important and requiring attention before others.

Tasks

Specific pieces of work or activities assigned to someone or required to be completed as a part of a job or project.

Morale

The overall mood, attitude, and satisfaction of a person or group, often influencing productivity and cohesion.