The cash amount properly shown on the year-end balance sheet

Assignment Help Financial Accounting
Reference no: EM131295581

The cash amount properly shown on the year-end balance sheet is the

A) balance in the general ledger account before the year-end bank reconciliation

B) balance per the year-end bank statement

C)balance per the year-end statement less deposits in transit and plus outstanding checks

D)balance in the general ledger account after entries from the year-end bank reconciliation have been posted

Reference no: EM131295581

Questions Cloud

Principal and interest are payable in full at maturity : The Pita Pit borrowed $202,000 on November 1, 2018, and signed a six-month note bearing interest at 12%. Principal and interest are payable in full at maturity on May 1, 2019. In connection with this note, The Pita Pit should report interest expense ..
Use tax rate schedule for reference : In 2014, Lisa and Fred, a married couple, have taxable income of $487,500. If they were to file separate tax returns, Lisa would have reported taxable income of $257,500 and Fred would have reported taxable income of $230,000. Use Tax Rate Schedule f..
Journal entry to record the declaration of stock dividend : Earnhardt Corporation has outstanding 3,051,000 shares of common stock of a par value of $10 each. The balance of in it's retained earnings account at January 1, 2014, was $24,730,000, and it then had Paid-in Capital in Excess of par - common stock o..
What are break-even sales in units-contribution margin ratio : If sales are $1,000,000, variable costs are $400,000, and fixed costs are $240,000, what is the contribution margin ratio? If the unit selling price is $16, the unit variable cost is $12, and fixed costs are $160,000, what are the break-even sales in..
The cash amount properly shown on the year-end balance sheet : The cash amount properly shown on the year-end balance sheet is the
In reconciling the january bank statement : In reconciling the January bank statement, the Vice President discovered that the bookkeeper had recorded a check written for $454 as $544 in the cash disbursements journal. For the bank reconciliation, the $90 error should be:
Partnerhip and bankruptucy : A partnership began its first year of operations with the following capital balances: What was the balance in Eaton's Capital account at the end of the second year?
Process costing weighted average equivalent units method : Burnett Company produces a high-quality plastic pipe in two departments, Cooking and Molding. Materials are introduced at various points during work in the Cooking Department. After the cooking is completed, the materials are transferred into the Mol..
A compensating balance refers to : A compensating balance refers to:

Reviews

Write a Review

Financial Accounting Questions & Answers

  Highest ratio of sales revenue to property

Which of the following industries would most likely have the highest ratio of sales revenue to property, plant and equipment?

  Make the journal entry necessary for landers inc

Make the journal entry necessary for Landers Inc. to record the purchase if the purchase price is $650,000 cash. Assume that the purchase price is $320,000 cash. Make the journal entry necessary to record the purchase.

  Statement about a multiple-step income statement

Which of the following is not a true statement about a multiple-step income statement?

  Margin of safety percentage and variable expenses

Arthur Corporation has a margin of safety percentage of 25% based on its actual sales. The break-even point is $330,000 and the variable expenses are 45% of sales. Given this information, the actual profit is: (Do not round your intermediate calculat..

  What is the amount of the annual deposit

You want to have $75,000 in your savings account 12 years form now, and you've prepared to make equal annual deposits into the account at the end of each year. If the account pays 6.8 percent interest, what amount must you deposit each year? What is ..

  Profits from self-employment and no wages

The self-employment tax in 2014 for a sole proprietor with $100,000 of profits from self-employment and no wages is:

  Volume of sales dollars is required to earn-tax net income

What minimum volume of sales dollars is required to earn an after tax net income of $70,000?

  Cost to be allocated to the building in accounting records

A company purchased property for $105,000. The property included a building, equipment and land. The building was appraised at $64,000, the land at $46,000, and the equipment at $19,000 for a total appraised value of $129,000. What is the amount of c..

  Advantage of classifying it as an operating cash flow

What advantages do you see for classifying interest expense as an investing cash flow rather than an operating cash flow? What is the advantage of classifying it as an operating cash flow? What is the advantage of classifying it as a financing ca..

  Example of a transaction where there are two increases

Please give us an example of a transaction where there are two increases. Note that you will still need to have at least one debit and one credit. Indicate which account will be debited and which will be credited.

  When is it appropriate to use the process cost system

Somewhat like last week, I think our discussion time would be better spent discussing the topic we are studying this week: the process cost system. Now that you understand the job order costs system, again compare the process cost system with what yo..

  Using fifo what is the value of the ending inventory

a firm that sells a single product had a beginning inventory of 4000 units with a total cost of 28,000. early in the year, 10000 units were purchased at $9 each, using FIFO what is the value of the ending inventory of 3000 units?

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