The cash account for fit bike co at august 1 2014 indicated

Assignment Help Accounting Basics

Reference no: EM13589706

The cash account for Fit Bike Co. at August 1, 2014, indicated a balance of $12,190. During August, the total cash deposited was $28,100 and checks written totaled $33,010. The bank statement indicated a balance of $12,550 on August 31. Comparing the bank statement, the canceled checks, and the accompanying memos with the records revealed the following reconciling items:

Checks outstanding totaled $7,440.

A deposit of $2,880, representing receipts of August 31, had been made too late to appear on the bank statement.
The bank had collected for Fit Bike Co. $2,080 on a note left for collection. The face of the note was $2,000.
A check for $580 returned with the statement had been incorrectly charged by the bank as $850.
A check for $640 returned with the statement had been recorded by Fit Bike Co. as $460. The check was for the payment of an obligation to Brown Co. on account.
Bank service charges for August amounted to $20.
A check for $900 from Murdock Co. was returned by the bank due to insufficient funds.

Reference no: EM13589706

Questions Cloud

A corporate purchases 3000 shares of its 10 par common : a corporate purchases 3000 shares of its 10 par common stock for 16 per share. the debit part of the journal entry for

Nbspthe initial concentration of a reactant in the first : question the initial concentration of a reactant in the first order is .28m. the rate constant for the reaction

What is the estimated net operating income for july if the : morganton company makes one product and it provided the following information to help prepare the master budget for its

Which of the following costs is most likely to be the : which of the following costs is most likely to be the largest expense reported on the income statement of a

The cash account for fit bike co at august 1 2014 indicated : the cash account for fit bike co. at august 1 2014 indicated a balance of 12190. during august the total cash deposited

The company would like to initiate an intensive advertising : marple associates is a consulting firm that specializes in information systems for construction and landscaping

New office furniture costing 500 was purchased on the last : makingithappen.com is an internet wholesaler of a variety of commercial software applications. on january 1 2007 the

Thalliums melting point is 304 c and its boiling point is : question the heat of fusion for thallium is 21 jg and its heat of vaporization is 795 jg. thalliums melting point is

Prepare the stockholders equity section of elizabeth : on januray 5 2014 elizabeth company received a charter granting the right to issue 100000 shares of 10 par value common

User Account

All Pages