Treatment on the bank reconciliation

Assignment Help Accounting Basics
Reference no: EM13141530

If a check correctly written and paid by the bank for $428 is incorrectly recorded on the company's books for $482, the appropriate treatment on the bank reconciliation would be to:

Choose one answer.

a. add $54 to the bank's balance.

b. add $54 to the book's balance.

c. deduct $54 from the bank's balance.

d. deduct $428 from the book's balance.

Reference no: EM13141530

Questions Cloud

Give explanation to electric circuits : Explanation to "Electric circuits" question, The voltage across a load is v(t) = 260 sin (377t + 10 °) and the current through the load is i = 100 sin (377t + 10°). What is the RMS power?
Find out the incremental effect on profit of discontinuing : Prepare an incremental analysis in good form to find out the incremental effect on profit of discontinuing the snail extraction tool line.
Confidence interval for percentage of all adults in town : Of 144 adults selected randomly from one town, 31 of them smoke. Construct a 99% confidence interval for the percentage of all adults in the town who smoke.
Controlling interest in consolidates net income : On jan 1 2011 pearce com purchased an 80% interest in the capital stock of searl com for 2460000. at the time searl co had capital stock of 1500000 amd retaines earnings of 300000. Calculate the controlling interest in consolidates net income for 2..
Treatment on the bank reconciliation : If a check correctly written and paid by the bank for $428 is incorrectly recorded on the company's books for $482, the appropriate treatment on the bank reconciliation would be to:
Explain short- term investments in the current asset section : Assume that the company classified the shares of treasury stock as short- term investments in the current asset section of its balance sheet. Is this appropriate? Explain.
How many different ways can they seat-permutations : Kate, Demi, Madona, Sharon, Britney and Nicole decided to lunch together in a restaurant. The waiter led them to a round table with six chairs.  How many different ways can they seat?
Amount of the sales support costs : What is the amount of the sales support costs that should be allocated to Customer A assuming Beta uses units purchased to compute activity-based costs?
Prepare journal entries required to record payment : Prepare the general journal entries required to record the acquisition and payment in each of the independent cases above. Round to the nearest dollar.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Valuation of business assets-financial statements

Why is it important to properly value a business's assets and how does asset valuation impact the financial statements of an organization?

  Recording journal entry for issuance of stock

Prepare the journal entry to record Zende Company's issuance of 75,000 shares of $5 par value common stock assuming the shares sell for

  Calculate one predetermined rate per minute

Now, assume that fixed and variable costs were allocated separately. How should each pool be allocated? What is the total cost to be allocated to the city department with this method?

  Federal tax law system

Rank the following items from the highest authority to the lowest in the Federal tax law system:

  Fundamental factors affecting the cost of money

which is the rate users pay to providers. For debt, we call this price the interest rate. For equity, we call this price the cost of equity. Discuss the four most fundamental factors affecting the cost of money.

  What amount will be in the investment fund

Vannoy Corporation will invest $30,000 every January 1st for the next six years (2012 - 2017). If Wagner will earn 12% on the investment, what amount will be in the investment fund on December 31, 2017?

  Stock held by nonaffiliates

Lechter Co. is preparing to issue stock. Its revenues for last year were $85,000,000, and it had $52,000,000 in stock held by nonaffiliates.

  Analysis of simulation

Make a solution using strategic variables available to you to sustain the economic profits firm can earn. What are some of pricing strategies which you would recommend? What are some of the nonpricing strategies which you would recommend?

  Non-controlling interest income

Jeremy reported net income of $50,000 for 2003. Non-controlling interest income that will appear in the consolidated income statement for 2003 is:

  Equivalent units of production for materials

For the month of January, there were no units in the beginning work in process inventory; 60,000 units were started into production in January; and there were 15,000 units that were 40% complete in the ending work in process inventory at the end o..

  Solving the numerical on concepts of costs

Given the quantity and total fixed and variable costs, compute the remaining costs the complete the following table.

  Reveal total overhead costs

A flexible budget for 15,000 hours revealed variable manufacturing overhead of $90,000 and fixed overhead of $120,000. The budget for 25,000 hours would reveal total overhead costs of:

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