CASH April 1 Balance 17,241.52 April 30 Month’s Payments 12,498 April 30 Month’s receipts 15,341.48 Instructions: Prepare a bank reconciliation Statement at September 30
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Shalimar Group of Industries reports the following information concerning cash balances and cash transactions for the month of April:
A Cash balance per bank statement as of April 30 was $22,992.50
- Two debit memoranda accompany the bank statement: one for $9 was for service charges for the month; the other for $62.50 was attached to an NSF check from Rizwan.
- Included with the bank statement was $3123.25 credit memorandum for interest earned on the bank account in April.
- The paid checks returned with the April bank statement disclosed an error in Shalimarcash records. Check no.751 for $67.35 for telephone expense had erroneously been listed in the cash payments journal as $76.35.
- A collection charge for $25 (not applicable to Daytona) was erroneously deducted from the account by the bank. Notice that this was the bank’s error.
- Cash receipts of April 30 amounting to $484.75 were mailed to the bank too late to be included in the April bank statement.
- Checks outstanding as of April 30 were as follows: no.661 for $161.50, no.657 for $72.55, and no. 669 for $122.45.
- The cash account showed the following entries during September.
CASH
|
April 1 |
Balance |
17,241.52 |
April 30 |
Month’s Payments |
12,498 |
|
April 30 |
Month’s receipts |
15,341.48 |
|
|
|
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