Determine the amount of the unadjusted cash balance

Assignment Help Financial Accounting
Reference no: EM133117829

Question - The following data apply to Pro Beauty Supply Inc. for May Year 1:

1. Balance per the bank on May 31: $12,845.

2. Deposits in transit not recorded by the bank: $1,740.

3. Bank error; check written by Best Beauty Supply was charged to Pro Beauty Supply's account: $800.

4. The following checks written and recorded by Pro Beauty Supply were not included in the bank statement:

3013 $235

3054. 610

3056. 1,620

5. Note collected by the bank: $900.

6. Service charge for collection of note: $13.

7. The bookkeeper mistakenly recorded a check for $533 but the check was correctly written for May utilities in the amount of $623.

8. Bank service charge in addition to the note collection fee: $30.

9. Customer checks returned by the bank as NSF: $112.

Required - Determine the amount of the unadjusted cash balance per Pro Beauty Supply's books.

Reference no: EM133117829

Questions Cloud

Discuss the differences between internal and external users : Discuss the differences between internal and external users of information and their needs and demands on an information system
How much is the amount allocated to preference shares : The issue price of preference shares with share warrants is 5,250,000. How much is the amount allocated to preference shares on September 30, 2020
What is the amount of revenue to be recognized : The cost to Laparo, Sagpa and Nawong of each product is P48,000. What is the amount of revenue to be recognized
Discuss the properties of the series and the limitation : Discuss the properties of the series and the limitation of the methodology you choose - Decide whether to use original or transformed data in the rest
Determine the amount of the unadjusted cash balance : Bank error; check written by Best Beauty Supply was charged to Pro Beauty Supply's account: $800. Determine the amount of the unadjusted cash balance
Diversification-risk-free securities and market premiums : Consider all that we have learned thus far regarding the impact of diversification, risk-free securities, and market premiums.
What amount of rental revenue should Yellow record : The following data were taken from the trial balance of Yellow: Rentals receivable were P96,000 and P124,000. What amount of rental revenue should Yellow record
The dark side of leadership : Why do you think Jim was seen as a high-potential candidate? Why did the CEO still think he was a high performer? What would you do if you were Steve?
Identify a firm that has recently engaged in diversification : Diversification strategies involve a firm stepping beyond its existing industries and entering a new value chain. Generally, related diversification

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd