Find how would be adjusted in the bank reconciliation

Assignment Help Financial Accounting
Reference no: EM132932383

Problem 1: Coaster's Co. earns 2% interest on their checking account. On the last bank statement, the bank only credited Coaster's with 1% interest. Coaster's called the bank about the error and the bank added another 1% interest to Coaster's account. How would this be adjusted in the bank reconciliation?

Option 1: Subtract from company records (book side)
Option 2: Add to bank statement (bank side)
Option 3: Add to company records (book side)
Option 4: Subtract from bank statement (bank side)

Reference no: EM132932383

Questions Cloud

Prepare journal entries for the establishment of the fund : The fund is reimbursed when the cash in the fund is at P1,500. Prepare journal entries for the establishment of the fund and the reimbursement
Explain how two of the three systems : Human body function relies on the cooperation between many systems. Explain how TWO of the following three systems: the digestive , respiratory, and circulatory
What would be included in the journal entry to adjust : Coasters Co. issued a note receivable to a customer. The customer made payment, What would be included in the journal entry to adjust for this payment?
Describe disaster recovery : Define and describe business continuity. Define and describe disaster recovery.
Find how would be adjusted in the bank reconciliation : Coaster's called the bank about the error and the bank added another 1% interest to Coaster's account. How would this be adjusted in the bank reconciliation?
Describe the role of cell division : 1. Scientists often extract DNA from the nucleus of cells for analysis or use. This process breaks the cell membrane, spins the solution to remove the large par
Do think manager would agree with the professional : Do you think your manager would agree with the professional development needs you have identified in the skills matrix and the timeframes you have listed
Calculate Crystal Charm direct materials variances : The company used 420 ounces of silver (total cost of $9,240) and 3,650 crystals (total cost of $803), Calculate Crystal Charm direct materials variances
Create mysql database. : Create a MYSQL Database. Create a generic function which will take the table name, query as parameter to insert data into the tables.

Reviews

Write a Review

Financial Accounting Questions & Answers

  What do recommend the company buy and why

What do you recommend the company buy and why? The initial requestor does not have a preference on which carpet type is selected

  Find the proceeds of the loan

The bank has loaned $12,000 to Aina Company using a 60-day non-interest-bearing note. The bank discounted the note at 12%. The proceeds of the loan will be

  Briefly explain what jordan would need to do

List the changes in your final sensitivity analysis, and explain why you chose this set of changes and briefly explain what Jordan would need to do to implement each of these changes.

  Find how much were the total losses that were used

Find How much were the total losses that were used and how much loss is suspended to next year? (Both PTP and private interest)

  Calculate the expected return for holding the share for year

Calculate the expected return for holding the share for a year. An investor buys 1 share of Zephyr Ltd at the price of $34.5 on July 1, 2021.

  What are the balances for the ordinary shares and patented

What are the balances for the Ordinary shares and Patented technology accounts on the Year 5 consolidated financial statements?

  Evaluate what is holding period return

You earned $3.50 in dividends during the year. Assume that you sell the stock for $275.00 today. What is your holding period return?

  What is the dollar amount of dividends

What is the dollar amount of dividends that he received for owning the stock during the year? Round to two decimal places.

  Prepare the journal entry to record income tax expense

Prepare the journal entry to record income tax expense, deferred income taxes, and income taxes payable for 2018, assuming an income tax rate

  Calculate internal rate of return of the previous project

Calculate the internal rate of return (IRR) of the previous project. Justify for what type of discount this investment will be made

  How accrual accounting differs from cash-basis accounting

(Learning Objectives 1, 3: Explain how accrual accounting differs from cash-basis accounting; adjust the accounts) An accountant made the following adjustments at December 31, the end of the accounting period:

  Place letters of an accountant''s career position

1.Place letters of an accountant's career position in front of each description of services that ?t. You may use any number of letters on each line and use the letters as many times as they ?t. (a) An accountant working for a public accounting ?rm pe..

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