Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Problem - Bank Reconciliation and Adjusting Entries
Aragon Company has just received the August 31, 2019, bank statement, which is summarized below.
County National Bank
Disbursements
Receipts
Balance
Balance, August 1
$9,369
Deposits during August
$32,200
41,569
Note collected for depositor, including $40 interest
1,040
42,609
Checks cleared during August
$34,500
8,109
Bank service charges
20
8,089
Balance, August 31
The general ledger Cash account contained the following entries for the month of August. Deposits in transit at August 31 are $3,800, and checks outstanding at August 31 total $1,550. Cash on hand at August 31 is $310. The bookkeeper improperly entered one check in the books at $146.50 which was written for $164.50 for supplies (expense); it cleared the bank during the month of August.
Required -
1. Prepare bank reconciliation dated August 31, 2019, proceeding to a correct balance.
2. Prepare entries necessary to make the books correct and complete.
3. What amount of cash should be reported in the August 31 statement of financial position?
Note that Ermler Department Store uses a periodic system. Prepare an income statement through gross profit for the year ended November 30, 2014
The W Company Civil Engineers consists of two divisions. Develop a staffing plan based on the expected hours to be billed
Indicate whether each of the following statements is true or false and explain why. Constant returns to scale and constant input prices are the only requirements for a total cost function to be linear.
Sunset Center's sales are all made on account. Compute the cash collections that would be included in the cash budgets for July and August.
choose two 2 public corporations in an industry with which you are familiar - one 1 that has acquired another company
Calculate La Scan's estimated profit after tax for the year ending 30 June 2019 assuming the analysts' expectations prove correct
the red company uses flexible budgeting for cost control. red produced 10800 units of product during october incurring
On July 31, 2017, Keeds Company had a cash balance per books of $6,140. The statement from Dakota State Bank on that date showed a balance of $7,690.80.
Determine inventory section of two companies using basic comparative analysis, and to interpret the data to gain insight about company's inventory management.
Why does a company need to be concerned with controlling access to its records?
1.stone industries uses flexible budgets. at normal capacity of 16000 units budgeted manufacturing overhead is 48000
Reporting an Adjusted Income Statement Dyer Rental Store, a sole proprietorship owned by Jessica Dyer, completed its first year of operations on December 31.
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd