User Account

All Pages

How to record the error in bank reconciliation statement

Assignment Help Accounting Basics
Reference no: EM133066706

Question - Mr. Zubair, the account executive, wrote a check no.123 for RM1,505 and the bank correctly paid the amount. However, Mr. Zubair recorded the check as RM1,550. How to record the error in bank reconciliation statement and why it should be recorded like that?

Reference no: EM133066706

Questions Cloud

Innovation on the equilibrium quantity : The invention of a self milking cow machine allows cows to milk themselves. Not only does this reduce the need for higher cost human assistance in milking, but
Implementing ERP system : Now, your business is expanding, and you have hired employees to help. Would you consider implementing an ERP system
Determining the bond yield : A bond issued on February 1, 2004 with face value of $10000 has semiannual coupons of 4.5%, and can be redeemed for par (face value) on February 1, 2021.
What is the next present value : Show all work. The answer must include PAINFGP = Present value (this value is not used in this problem) and the cash flow diagrams.
How to record the error in bank reconciliation statement : However, Mr. Zubair recorded the check as RM1,550. How to record the error in bank reconciliation statement and why it should be recorded like that
Barney average monthly accounting profits : Barney decides to quit his job as a corporate accountant, which pays $12,000 a month, and goes into business for himself as a certified public accountant.
Discuss why organizations are moving to cloud : Explain why information silos are a problem for organizations. Discuss why organizations are moving to the cloud. Define what an information silo is.
Compute the depreciation expense for the cases : Compute the depreciation expense for the following independent cases - Pedro Reyes purchased a delivery vehicle on January 1, 2016 amounting to 250,000
Make any necessary journal entries for the years : On December 31, 20X2, the fair value of the financial asset was $45,000. Make any necessary journal entries for the years 20X1 and 20X2

Reviews

Write a Review

Accounting Basics Questions & Answers

  For bernard l madoff there was also his multimillion-dollar

some say that bernard l. madoff is the biggest financial fraud in history. the new york times gives us some background

  Prepare the t-accounts for each account

Prepare the T-accounts for each account, enter the unadjusted balances, post the adjusting journal entry, and report the adjusted balance

  What is the purpose of the financial accounting concepts

What is the purpose of the Financial Accounting Concepts? What do they tell us about why accountants provide accounting information?

  How much interest is earned over the month period

Alfonso invests $9,000.00 at 4.3% simple interest for 27 months. How much interest is earned over the 27 month period

  What is percentage of founders family votes to class b votes

Rust Pipe Co. was established in 1994. Four years later the company went public. What is the percentage of the founder's family votes to Class B votes?

  Explain the weighted-average method

Weighted-average method. McKnight Handcraft is a manufacturer of picture frames for large retailers. Every picture frame passes through two departments.

  What will be the optimal portfolia for agents

How would you model explicitly these two factors' impact on equities A and B? What assumptions will be required to assure general applicability of the standard APT framework to this model?

  Provide the December adjusting journal entry

Provide the December 31, 2012, adjusting journal entry for semiannual interest earned from the bond. Journalize the entries for these transactions

  Quantacc carries fixed assets at revalued amounts fixed

quantacc ltd. began operations on january 1 2011 and uses ifrs to prepare its consoliated financial statements.

  Briefly discuss the ways a good budget will benefit owner

Briefly discuss the ways a good budget will benefit the owner of the bakery.Use the specific company and product details in your explanation.

  Preparing for accounting careers can be a challenging task

Preparing for accounting careers can be a challenging task. Clearly, it is an ongoing process that takes considerable time and strategic action

  Prepare general journal entries with narrations

Question - Prepare general journal entries with narrations to record the following balance day adjustments as at 30 June 2018.

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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