Make a bank reconciliation for holder company as of october

Assignment Help Financial Accounting
Reference no: EM132920189

Holder Company deposits all cash receipts intact each day and makes all payments by check. On October 31, after all posting was completed, its Cash account had a debit balance of $ 5000. The bank statement for the month ended on October 31 showed a balance of $ 3,980.

Other data are:

Outstanding checks total $ 620.
October 31 cash receipts of $ 850 were placed in the bank's night depository and do not appear on the bank statement.
Bank service charges for October are $ 15.
Check No. 72 for store supplies on hand was entered at $ 750, but paid by the bank at its actual amount of $ 485.
A check of $500 received by a customer was returned NSF. The bank charged $10 NSF fee.

Problem 1: Make a bank reconciliation for Holder Company as of October 31.

Reference no: EM132920189

Questions Cloud

What is brady net income from the property : What is Brady's net income from the property and what type and amount of expenses will he carry forward to next year, if any?
What is the book value of the bonds as of january : What is the book value (carrying value) of the bonds as of January 1, 2020, following payment of the interest for 2019
Determine the capital amount to be reported on the december : Determine the capital amount to be reported on the December 31, balance sheet. Note: S. Dylan, Capital was $123,973 on December 31 of the prior year.
Development of computer systems since 1980s : Fundamentals of the computer. In the introduction, provide a summary of the historical development of computer systems since 1980s
Make a bank reconciliation for holder company as of october : Make a bank reconciliation for Holder Company as of October 31. Holder Company deposits all cash receipts intact each day and makes all payments by check
What budget must a manufacturing company start with : What is a budget? When preparing budgets, what budget must a manufacturing company start with
What are the annual cash inflows : What are the Annual Cash Inflows? Discount Rate? Number of Years? Principal Returned? NPV? The business that's offering these bonds for sale contracts
Explain major ob related issues : What are the 3 major OB (organizational behavior)-related issues involved in this case? Elaborate each issue.
What is the current value of a share : Beyond that time, Video Toys's dividends are expected to grow at 4 percent per year. What is the current value of a share of Video Toys common stock

Reviews

Write a Review

Financial Accounting Questions & Answers

  Allowance for uncollectible accounts is estimated

At what amount will accounts receivable be reported on the balance sheet if the gross receivable balance is $35,000 and the allowance for uncollectible accounts is estimated at 18% of gross receivables?

  What is the required rate of return on a stock with a beta

Assume that the risk-free rate is 2.5% and the required return on the market is 10%. What is the required rate of return on a stock with a beta of 1.7?

  Amount the company can spend on the advertising campaign

Pure water products produces two types of water filters - one that attaches to the faucet and a pitcher filter. The unit that attaches to the faucet is sold for $80 and has variable costs of $20. Calculate the maximun amount the company can spend on ..

  Calculate the amount of net income

During 2020 Sawyer Company paid dividends in the amount of $7million and issued $15million of common stock. Calculate the amount of net income

  Calculate the number of equivalent units produced

There was no WI P at the beginning of the period, but at the end of the period there was WI P of 3,800 units which were 100% complete for materials and 50% complete for labour and overheads. - Calculate the number of equivalent units produced.

  Calculate the expected rate of return

Calculate the expected rate of return and standard deviation of return to AAA company shareholders

  Discuss the difficulties associated with a typical merger

Discuss the difficulties associated with a typical merger. Provide real life examples of mergers that have gone through such difficulties.

  What the total pounds to be purchased are

If the beginning inventory is 1400 pounds and the desired ending inventory is 1700 pounds, the total pounds to be purchased are?

  What is the impact to x assets

Who are two users of X's financial statements and what are their decision-making needs? What is the impact to X's assets and liabilities

  Activity-based costing data deluxe tourist annual sales

Enter a formula into each of the cells marked with a below Review Problem: Activity-Based Costing Data Deluxe Tourist Annual sales in units 2,000 10,000 Direct materials per unit $25 $17 Direct labor-hours per unit 5 4 Direct labor rate $12 per DLH E..

  What is the available production capacity

What is the available production capacity? What is the break-even-point (BEP) in units? What is the contribution margin per unit?

  What is the size of yearly payments for jerry

What is the size of yearly payments for Jerry? Jerry wants to save up $16000 so he can buy a new truck in 8 years. He wants to make yearly payments

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