Reference no: EM132776125
The following information is available for Airborne, Inc. as of March 31, 2020:
a. Cash on the books as of March 31 amounted to $22,754.16. Cash on the bank statement for the same date was $32,351.46.
b. A deposit of $3,344.50, representing cash receipts of March 31, did not appear on the bank statement.
c. Outstanding checks totaled $3,936.80.
d. A check for $1,920.00 returned with the statement was recorded incorrectly in the check register as $1,380.00. The check was for a cash purchase of merchandise.
e. The bank collected $10,300.00 for Airborne, on a note. The face value of the note was $10,000.00.
f. The bank mistakenly charged to the company account a check for $755.00 drawn by another company.
REQUIRED:
Problem 1: Prepare in a proper format the Bank Reconciliation for Airborne, Inc. as of March 31, 2020.
Problem 2: Prepare in proper format the Journal Entries necessary to adjust the accounts as of March 31, 2020.
|
How much of gas cost be assigned to the Lawn Department
: Columbus Company provides the following ABC costing? information: How much of the gas cost will be assigned to the Lawn? Department
|
|
What is? company profit margin? ratio for accelerated log
: What is the? company's profit margin? ratio? ?Management's target rate of return 25?%. Average total assets $2,000,000. Net sales $15,000,000
|
|
What will John monthly payment be
: John has a credit card with an APR of 24.5% and a current balance of $12,650.35. He wants to pay it off in 4 years. What will John's monthly payment be
|
|
Calculate return on investment based on the information
: Calculate return on investment based on the information. ?Gains/(losses) on sale of equipment 2,500. Income from operations $400,000
|
|
Make in a proper format bank reconciliation for airborne
: A check for $1,920.00 returned with the statement was recorded. Prepare in a proper format the Bank Reconciliation for Airborne, Inc. as of March 31, 2020.
|
|
Is the decision to raise approximately million to finance
: Is the decision to raise approximately $20 million to finance the new division exclusively using new equity likely to affect HK's WACC?
|
|
Explain what a rights offering entails
: One proposal put forward was to make a rights offering. Explain what a rights offering entails and give one reason why this would be considered.
|
|
Determine the estimated housekeeping
: Determine the estimated housekeeping, restaurant, and total direct labor cost for an average weekday and average weekend day
|
|
Find what is hk weighted average cost of capital
: Find What is HK's weighted average cost of capital, assuming its cost of common equity will be determined using the CAPM and it will issue new common shares?
|