Making the bank reconciliation

Assignment Help Accounting Basics
Reference no: EM13126649

While preparing the bank reconciliation, you notice that a check, written by the company for $750, has been outstanding for 5 months. What is the best action for you to take?

Reference no: EM13126649

Questions Cloud

What is the rate constant k : The initial concentration of the reactant A in a first-order reaction is 1.2M. After 69.3 s, the concentration has fallen to 0.3M. What is the rate constant k
Calculating probability of selection : There are 1000 students in the senior class at a certain high school. The high school offers two advanced placement math / stat classes to seniors only:
Calculate the budgeted quantity of plastic : Big Company manufactures keyboards. Management wishes to develop budgets for the upcoming quarter based on the following data: Calculate the budgeted quantity of plastic which needs to be purchased for the next quarter.
Computing concentration in equilibrium : Calculating concentration in equilibrium, At pH 6.00 and pE 2.60, what is the concentration of Fe2+ (mol/L) in equilibrium with Fe(OH)3?
Making the bank reconciliation : While preparing the bank reconciliation, you notice that a check, written by the company for $750, has been outstanding for 5 months. What is the best action for you to take?
Reconnaissance plane : A reconnaissance airplane leaves its airport on the east coast of the United States and flies in a direction 85 degree. Because of bad weather, it returns to another airport 230 km due north of its home base.
Compute the molar mass of vitamin c : Compute the molar mass of vitamin C if a solution of 22.7 g in 100. g of water freezes at -2.40 oC. The Kf of water is 1.858 oC kg/mol.
Activity-based costing and management : How does activity-based costing differ from other forms of costing? What about activity-based management? Are activity-based costing and management suitable to all companies? Why or why not?
Probability that person selected is female-attended college : 78 percent of the males attended college. A management trainee is selected at random. What is the probability that the person selected is a female who did attend college?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the major issue involved in translation

XYZ Corporation, with a division located in Germany, must translate its financial statements from euros to U.S. dollars. What is the major issue involved in translation?

  What is annes annual after-tax rate of return

Anne's marginal income tax rate is 30 percent. She purchases a corporate bond for $10,000 and the maturity, or face value, of the bond is $10,000. If the bond pays 5 percent per year before taxes, what is Anne's annual after-tax rate of return fro..

  Information regarding break-even point

Scott Company's variable expenses are 72% of sales. The company's break-even point in dollar sales is $2,450,000. If sales are $60,000 below the break-even point, the company would report a:

  Compute the amount of phantom profit

In its first month of operation, Moraine Company purchased 100 units of inventory for $18, then 200 units for $21, and finally 150 units for $24. At the end of the month, 180 units remained. Compute the amount of phantom profit that would result i..

  Information about basic accounting

Management uses accounting information to run the business (and be sure they get bonuses based on profitability ) stockholders use it to be sure they continue to have a sound investment, a banker may use it to monitor credit trends and for compari..

  What is the impact on not eliminating intercompany payables

What is the impact of not balancing intercompany payables/receivables on a monthly basis? What is the impact on not eliminating intercompany payables/receivables during the consolidation? Is there an instance where either of these two practices wo..

  Preparing a list of pros and cons

Preparing a list of pros and cons do not mean just giving a definition of three entities. Your information presented should be structured toward their prospective business. Please make sure your responsive comprise the necessary references and rule..

  Calculate how much estate tax would have been saved

Harold and Maude are married and live in a common-law state. Neither have made any taxable gifts and Maude owns (holds title) all their property. She dies with a taxable estate of $15 million and leaves it all to Harold. He dies several years late..

  Goods division at the break-even point

The contribution margin ratio for Sporting Goods is 30%, while for Sports Gear it is 50%. What will sales be for the Sporting Goods Division at the break-even point?

  What is its gross income for the year

Returns and allowances amounted to $2,000. It purchased equipment normally selling for $10,000 at a 20% discount. Based on these facts, what is its gross income for the year?

  Problem related to stock or bond mutual fund

Mutual Funds What is the function of a mutual fund? Why are mutual funds popular among investors? How does a money market mutual fund differ from a stock or bond mutual fund?

  Role of adjusting and closing entries in the preparation

Role of adjusting and closing entries in the preparation of the income statement, statement of retained earnings, and balance sheet and how is cash-basis accounting different from accrual-basis accounting

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