Reference no: EM131113475
Bank Reconciliation and Adjusting Entries the cash account of Aguilar Co. showed a ledger balance of $3,969.85 on June 30, 2010. The bank statement as of that date showed a balance of $4,150. Upon comparing the statement with the cash records, the following facts were determined.
1. There were bank service charges for June of $25.
2. A bank memo stated that Bao Dai's note for $1,200 and interest of $36 had been collected on June 29, and the bank had made a charge of $5.50 on the collection. (No entry had been made on Aguilar's books when Bao Dai's note was sent to the bank for collection.)
3. Receipts for June 30 for $3,390 were not deposited until July 2.
4. Checks outstanding on June 30 totaled $2,136.05.
5. The bank had charged the Aguilar Co.'s account for a customer's uncollectible check amounting to $253.20 on June 29.
6. A customer's check for $90 had been entered as $60 in the cash receipts journal by Aguilar on June 15.
7. Check no. 742 in the amount of $491 had been entered in the cash journal as $419, and check no. 747 in the amount of $58.20 had been entered as $582. Both checks had been issued to pay for purchases of equipment.
(a) Prepare a bank reconciliation dated June 30, 2010, proceeding to a correct cash balance.
(b) Prepare any entries necessary to make the books correct and complete.
|
Define effective supply chain strategythat used by company
: Using at least two current examples, discuss effective supply chain strategies that were used by a company to positively impact organizational effectiveness and yield desirable results.
|
|
Purchasing lab equipment
: With Federal Funds to be furnished in three payments over 18 months from date of funding: Construction of the clinic building of 6,000 square feet and small parking lot, including purchasing lab equipment and an X-ray machine
|
|
Determine the air-gap flux density
: (Note that the number of parallel paths is equal to the number of poles for lap windings.)
|
|
Members to conform to a group norms
: What factors will influence group members to conform to a group's norms, and when will members remain independent? Do individuals who do not conform to the groups' norms ever succeed in influencing the rest of the group?
|
|
Bank reconciliation and adjusting entries the cash account
: Check no. 742 in the amount of $491 had been entered in the cash journal as $419, and check no. 747 in the amount of $58.20 had been entered as $582. Both checks had been issued to pay for purchases of equipment.
|
|
Lead to an increase in aggregate demand
: Which of the following will lead to an increase in aggregate demand? A. A decrease in price level B. An increase in the price level C. An increase in national incomes abroad D. An appreciation in the value of the US dollar
|
|
Does this firm have the means to execute like ge
: Using the information above, the module readings, Argosy University online library resources, and the Internet, respond to the following: How does GE's framework give it the opportunity to be at the forefront of the markets in which it participates..
|
|
Workhorse segment in the simulation
: A number of factors contribute to the pricing strategies for a product. Considering the workhorse segment in the simulation, what pricing strategy would be most effective considering both the market's needs and the product life cycle? As the produ..
|
|
Determine the electromagnetic force on the plunger
: Determine the electromagnetic force on the plunger by the application of Equations (12.4.19) and (12.4.20). Interpret the significance of the sign that you obtain in the force expression.
|