Jansen company’s general ledger showed a checking account balance of $24,320 at the end of may 2018. the may 31 cash receipts of $2,390, included in the general ledger balance, were placed in the night depository at the bank on may 31 and were processed by the bank on june 1. the bank statement dated may 31, 2018, showed bank service charges of $43. all checks written by the company had been processed by the bank by may 31 and were listed on the bank statement except for checks totaling $1,940. required: prepare a bank reconciliation as of may 31, 2018. [hint: you will need to compute the balance that would appear on the bank statement.]

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

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