User Account

All Pages

Prepare bank reconciliation for huzaifa enterprises

Assignment Help Accounting Basics
Reference no: EM132621384

Mr.Nadeem is an accountant of Huzaifa enterprises. The Following information is available to the for the month of May,2020. Ledger account showed a balance at 31st may,2020 of Rs=251,136/-. While May bank statement showed a closing balance of Rs=229,656/-. While Rs=32000/- Cash left at the bank as it was presented to the bank after banking hours (bank kept it in the night deposit). May 2020, Bank statement also includes a debit memorandum from the bank for Rs=100/- as a service charges. The bank statement of the April 30,2020 includes a debit memorandum from the bank for Rs=200/- as a SMS alert charges. A credit memorandum enclosed with the bank statement indicates that non-interest bearing note Rs= 8,000/- from Mr. Ali. Inspection of paid checks with accounting record revealed that cheque no 1642 for Rs=189/- issues in May 15, has been erroneously entered in ledger records as Rs=981/- included in the bank statement 400 NSF check. Three checks all issued in May are not still presented in the bank for payment: no 107 for Rs=628/-; no 111 for Rs=1250/- and no 115 for Rs=350/-.

Problem 1: Prepare bank reconciliation for Huzaifa enterprises, at May 31.

Reference no: EM132621384

Questions Cloud

What is needed to remove phosphate from atp : What is needed to remove phosphate from ATP?
Coaching vs. mentoring : You may have heard the terms "mentor" and "coach" used interchangeably. In fact, mentors and coaches serve different functions
Prepare journal entry to record the issuances of stock : Prepare journal entry to record the following issuances of stock; A corporation issued 700 shares of no-par common stock to its promoters in exchange
How much in sales revenue does the company need : How much in sales revenue does the company need to generate each month in order to achieve their monthly target profit of $100,000
Prepare bank reconciliation for huzaifa enterprises : Prepare bank reconciliation for Huzaifa enterprises, at May 31. While May bank statement showed a closing balance of Rs=229,656/
Examine the federal sentencing guidelines for organizations : For the PowerPoint presentation, you will examine the Federal Sentencing Guidelines for Organizations (FSGO), the Sarbanes - Oxley Act (SOX), and the Consumer.
Explain the issues with excluding the monthly salary : Explain the issues with excluding the monthly salary and fixed selling costs in the calculation and why they are important
What kind of dna mutation would result in single amino acid : What does the mutation that converts threonine to isoleucine cause to happen? What kind of DNA mutation would result in a single amino acid change?
How accounts will be presented in the financial statements : Make the adjusting entry at December 31, 2018 to report the portfolio at fair value. Describe how accounts will be presented in the financial statements.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Discuss how can you reconcile opposing ideas or views

How can you reconcile opposing ideas or views raised in the various sources

  Prepare the general journal entries related wyrick company

Instructions  Prepare the general journal entries necessary to record these transactions.  Equity transactions. Presented below is information related to Wyrick Company:

  Should ed grimm be forced to knowingly overstate

Is Ed's boss correct in saying that Ed cannot be held responsible for misleading potential investors? Discuss. Should Ed Grimm be forced to knowingly overstate

  Considering deferred compensation plans

Maroon Corporation is considering deferred compensation plans for its executive employees over the age of 55. All of the employees use the cash method of accounting.

  Compute the total cost per mailbox per month

Compute the total cost per mailbox per month of Madeira Travel Services' current e-mail function. Show all computations

  What role do standard costs play in controlling the

what role do standard costs play in controlling the operations of a business? how are standard costs developed for

  Compute the companys breakeven point in sales value

Further, sales agents are paid a commission of 5% on sales value for selling 'zeron'. Compute the companys breakeven point in sales value

  Determine whether the polynomial function

Please be sure to save at least once every 15 minutes. If you leave this page without saving, or if your session times out, any answers you have not saved will be lost. The Submit for Grading button will become available once you've answered all q..

  What issues should blitzer have considered

What issues should Blitzer have considered when trying to value Wolf's NOL prior to its sale? What tax issues should Wolf now consider

  Production method is used for both assets.

During 2013, Terra logged 500,000 of the estimated five million board feet of timber.

  The potential profits and losses from various positions

Julian Herrara, a sophisticated investor who is both willing and able to take risk, has just noticed that Go-West Airlines has become the target of a hostile takeover. Prior to the announcement of the offer to purchase the stock for $72 a share, t..

  That shown in table 15-16 and use the work sheet to prepare

Extend the trial balance to an eight column work sheet like that shown in Table 15-16 and use the work sheet to prepare the following financial statements

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