Reference no: EM13259121
The following information is available to reconcile HamiltonCompany's book balance of cash with its bank statement cash balanceas of July 31, 2009.
1) On July 31, the company's Cash account has a $25,862debit balance, but its July bank statement shows a $28,575 cashbalance.
2) Check No. 3031 for $1,670 and Check No. 3040 for$827 were outstanding on the June 30 bank reconciliation. Check No.3040 is listed with the July canceled checks, but Check No. 3031 is not. Also, Check No. 3065 for$611 and Check No. 3069 for $2,438, both written in July, are not among the canceled checks onthe July 31 statement.
3) In comparing the canceled checks on the bankstatement with the entries in the accounting records, it was found that Check No. 3056for July rent was correctly written and drawn for $1,250 but was erroneously entered in theaccounting records as $1,240
a> Prepare the Bank reconciliation for thiscompany as of July 31, 2009
b> Prepare the journal entries necessary tobring the company's book balance of cash into conformity with the reconciledcash balance as of July 31, 2009.
|
Discuss the basic procedural steps and legal standards
: Discuss the basic procedural steps and legal standards for how new unions are formed in the United States. Explain tactics used by employers to weaken individual support for unions.
|
|
What is the future value of your retirement after 12 years
: You deposit $8,000 into a retirement account at the end of the next 12 years earning 10% interest, what is the future value of your retirement after 12 years?
|
|
Amount and direction during same period
: If total liabilities decreased by $15,000 and owner's equity increased by $5,000 during a period of time, then total assets must change by what amount and direction during that same period?
|
|
Banks that hold too little capital are too profitable
: All else the same, if a bank has more rate-sensitive liabilities than assets, then a(n) _____ in interest rates will _____ bank profits.
|
|
Prepare journal entries necessary to bring book balance
: Prepare the journal entries necessary to bring the company's book balance of cash into conformity with the reconciledcash balance as of July 31, 2009.
|
|
At what amount should the land be recorded by amos company
: The fair market value of the land is notdeterminable, but the stock is widely traded and was selling for$25 per share when exchanged for the land. At what amount should the land be recorded by Amos Company?
|
|
Case study of duce company
: The Duce Company has five plants nationwide that cost $100 million. The current market value of the plants is $500 million. The plants will be recorded and reported as assets at
|
|
Construct a pro forma income statement
: In year 2, Price per unit increases to $13.50, and unit of sales increases by 4%, all other assumptions remain the same.
|
|
Explain the organic compound with a carbon chain
: How would I name the organic compound with a 5 carbon chain, one double bond between 3,4 carbons and 2 Br groups on the 2,4 carbons
|