User Account

All Pages

List the deposits in transit at the end of august

Assignment Help Accounting Basics
Reference no: EM13875150

The August bank statement and cash T- account for Martha Company follow:

No deposits were in transit and no checks were outstanding at the end of July.

Required:

1. Identify and list the deposits in transit at the end of August.

2. Identify and list the outstanding checks at the end of August.

3. Prepare bank reconciliation for August.

4. Give any journal entries that the company should make as a result of the bank reconciliation.

5. After the reconciliation journal entries are posted, what balance will be reflected in the Cash account in the ledger?

6. If the company also has $ 100 of petty cash on hand, which is recorded in a different account called Petty Cash on Hand, what total amount of Cash and Cash Equivalents should be reported on the August 31 balance sheet?

Reference no: EM13875150

Questions Cloud

Prepare journal entries to record the sale of the land : On October 1, Bandor Company sold land (that cost $30,000) on credit for $35,000. The buyer issued an 8%, 12 month note for this amount, with the interest to be paid on the maturity date.
Advantages-disadvantages to entering into forward contract : Explain the advantages and disadvantages to entering into a forward contract, and how you make or lose money by taking a naked position on one. Discuss issues of liquidity and your ability to tailor the contract to your needs in terms of delivery dat..
Inflation/cpi calculations : 2) Refer to table above.  Consider a simple economy that produces only three products: burritos, flashlights, and golf balls. Use the information in the table to calculate the inflation rate for 2013 (vs. 2012), as measured by the consumer price inde..
What is the beta of your portfolio : What is the beta of your portfolio? If you expect the market to earn 14 percent and the risk-free rate is 4 percent, what is the required return of the portfolio?
List the deposits in transit at the end of august : Identify and list the deposits in transit at the end of August. Identify and list the outstanding checks at the end of August. Prepare bank reconciliation for August. Give any journal entries that the company should make as a result of the bank recon..
What is the traditional gold standard : What is the traditional gold standard, how does it differ from our current monetary system, and how does it work to resolve trade imbalances? Give an example. What are the advantages to being on a gold standard and what are the drawbacks?   What is t..
Explain the theory of comparative advantage : Explain the theory of Comparative Advantage, and its implication for production and trade. Are there some countries that have no comparative advantage? What happens if two countries have exactly the same skill, technology, and labor costs? How could ..
Consider the data above for a simple economy : Consider the data above for a simple economy. 1) What is the unemployment rate for this simple economy? 2) What is the labor force participation rate for this simple economy?
Managers want to estimate common stock value : Berth Cargo Corporation is considering going public. Managers want to estimate common stock value. The firm’s weighted average cost of capital is 11%, and it has $1.5 million of debt at market value, and $400,000 of preferred stock also at market val..

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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