Business, 06.05.2020 02:06 aesthetickait

During the preparation of the bank reconciliation for Building Concepts Co., Joel Kimmel, the assistant controller, discovered that Lone Peak National Bank incorrectly recorded a $3,290 check written by Building Concepts Co. as $329. Joel has decided not to notify the bank but wait for the bank to detect the error. Joel plans to record the $2,961 error as Other Income if the bank fails to detect the error within the next three months.

Discuss whether Joel is behaving in a professional manner.

Answers: 2

Show answers

Answers

Answer from: jenesis8

Joel Kimmel in this example did not behave in a professional way

Explanation:

From the example given, Joel Kimmel is not behaving in professional manner .

The function of Bank Reconciliation Statement at normal interval is to restore the differences in the bank cash book and pass book

When the mistake was discovered by Joel, it is his responsibility to make it known to the manager of the bank bank and do the right corrections of balance in the pass book of the bank.

It is not advisable to treat a bank business income as any kind of income which is not right, and this will be a draw back in profit of the desired time.

When the check receiver or customer make a complain about the error found, The Lone Peak National Bank will always notice this error.

In bank statement their message always foes like this “ Bring to the notice of bank , if any discrepancy is found.

If Joel Kimmel did not notify the bank willingly it will be seem as a fraud and it will affect the reputation of the organization.

Answer from: Quest

My first question is what benefits do you expect to achieve from career exploration? the benefits that i expect to achieve from career exploration. for me i think the benefits of exploring many different careers are that you get exposed to more, so it's easier for you to pick which one you like best. another benefit is that you get a more first hand view of what jobs are more likely to be needed in the future and that can be factored into your consideration. my second question is what do you expect to be the most challenging parts of your career planning process? why? the most challenging parts of my career planning process is trying to get things in order and trying to write this paragraph it is confusing and, hard work. and last but not least my third question is i think the most challenging part is taking the first step and really deciding on a career you want to pursue; there are so many options and it can be hard to choose.which jobs will allow me to make a living? ; what skills does emergency medical technician emergency medical services medical » physiology require?

Answer from: Quest

u = 30

continuing your method

$\frac{1}{10}$ = $\frac{1}{u}$ + $\frac{1}{15}$

subtract $\frac{1}{15}$ from both sides

$\frac{1}{u}$ = $\frac{1}{10}$ - $\frac{1}{15}$ thus

$\frac{1}{u}$ = $\frac{3}{30}$ - $\frac{2}{30}$

$\frac{1}{u}$ = $\frac{1}{30}$ ⇒ u = 30

Other questions on the subject: Business

Business, 22.06.2019 07:30, yzafer3971

An instance where sellers should work to keep relationships with customers is when they instance where selllars should work to keep relationships with customers is when they feel that the product

Answers: 1

continue

Business, 22.06.2019 12:20, ohgeezy

Consider 8.5 percent swiss franc/u. s. dollar dual-currency bonds that pay $666.67 at maturity per sf1,000 of par value. it sells at par. what is the implicit sf/$ exchange rate at maturity? will the investor be better or worse off at maturity if the actual sf/$ exchange rate is sf1.35/$1.00

Answers: 2

continue

Business, 22.06.2019 21:30, natasniebow

True or false payroll withholding includes income tax, social security tax, medicare tax as well as money you deduct for your retirement fund.

Answers: 1

continue

Business, 22.06.2019 23:30, Kdub4evaa

Sports leave thousands of college athletes with little time for their studies. this is an example of

Answers: 1

continue

You know the right answer?

During the preparation of the bank reconciliation for Building Concepts Co., Joel Kimmel, the assist...