User Account

All Pages

Make bank reconciliation for Holder Company as of October

Assignment Help Accounting Basics
Reference no: EM133020287

Question - 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.

Required - Make bank reconciliation for Holder Company as of October 31.

Reference no: EM133020287

Questions Cloud

Compute over or under absorption of overhead : Actual machine hours worked = 86700; Actual production overhead = Rs. 9,80,000. Compute over or under absorption of overhead
Calculate the cumulative average abnormal return : The expected return on CDE Ltd.'s share was -0.5 per cent on that next day. Calculate the cumulative average abnormal return
What is the value of the equity in this firm : These assets are expected to increase in value to either $1,850 or $2,500 by next year. What is the value of the equity in this firm
Determine the ending inventory under variable costing : Fixed costs are: $294000 manufacturing overhead, and $98000 selling and administrative expenses. Determine the ending inventory under variable costing
Make bank reconciliation for Holder Company as of October : A check of $500 received by a customer was returned NSF. The bank charged $10 NSF fee. Make bank reconciliation for Holder Company as of October
What amount of impairment loss should C-R recognize : The test revealed the following: book value of division's assets, $27.5 million; What amount of impairment loss should C-R recognize
What is the company cost of equity : The risk-free rate is 3.1 percent, and the market rate of return is 10.6 percent. What is the company's cost of equity
Make an appropriation statement for the partnership : During their accounting years they made a profit of $120,000. Make an appropriation statement for the partnership
Determine the required rate of return for preferred stock : Determine the required rate of return for preferred stock (Kpfd) which has a 20.1% dividend, a market price of $31.95 and a $8.00 par value

Reviews

Write a Review

Accounting Basics Questions & Answers

  Describe the relevance and pertinence of ethics to business

1. discuss the relevance and pertinence of ethics to business?2. discuss how total human development becomes an issue

  Journalize the partnership entry to record Payne investment

Payne contributes the following assets to the partnership: cash, $20,000; Journalize the partnership entry to record Payne investment

  Hodge corporation issued 100000 shares of 20 par value

hodge corporation issued 100000 shares of 20 par value cumulative 6 preferred stock on january 12013 for 2300000. in

  What is a stock split how does a stock split impact

what is a stock split? how does a stock split impact outstanding shares and the per-share market price? how do stock

  Discuss a current article concerning a financial accounting

Discuss a current article concerning a financial accounting issue. Make sure that it is a financial accounting issue (i.e., how something is accounted for)

  Determine valuation of Land in consolidated balance sheet

The gain is included in the net income reported by the Subsidiary. Determine the valuation of Land in the consolidated balance sheet

  What does accounting harmonization mean

What does accounting harmonization mean? Differentiate harmonization from convergence or adoption? Explain the benefits of global adoption of IFRSs

  What is the entry for February

Office Equipment purchased for $30,000 January 1st, 2015 is amortized at the rate of 20% per year. What is the entry for February 28th, 2015

  Compute the acquisition cost of the equipment

The machinery has an estimated life of 10 years and an estimated residual value of P5, 000. Compute the acquisition cost of the equipment

  What is the level of accounts receivable needed tosupport

collins office supplies is considering a more liberal credit policy to increase sales but expects that 9 percent of the

  Journalize the payoff of the short term notes payable

Journalize all four of these transactions for O Sullivan during 2014. Assume no interest on short-term note payable of $15300

  Determine the cost of goods purchased under periodic system

Identify the accounts that are added to or deducted from purchases to determine the cost of goods purchased under a periodic system.

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