What is the adjusted balance on the bank reconciliation

Assignment Help Accounting Basics
Reference no: EM133150361

Question - Bank Reconciliation - The following data were gathered to use in reconciling the bank account of Lays Company:

Balance per bank $18,540

Balance per company records 15,465

Bank service charges 85

Deposit in transit 2,730

NSF check 1,010

Outstanding checks 6,900

Required -

a. What is the adjusted balance on the bank reconciliation?

b. Journalize any necessary entries for Lays Company based on the bank reconciliation.

Reference no: EM133150361

Questions Cloud

Electricity for entire neighborhood : Would you be okay with that aspect of having a wind turbine in your front yard that produced electricity for your entire neighborhood? taking NIMBY into account
Competitive advantage for such a long time : Why has Disney been able to sustain its competitive advantage for such a long time?
Expectation model in the second and third chapters : Discuss reactions why had or questions you asked yourself when you read about the expectation model in the second and third chapters of the book called The Cure
Spotlight on south africa : Discuss the section. Simply summarize it. What did you find that intrigued you? Why?
What is the adjusted balance on the bank reconciliation : he following data were gathered to use in reconciling the bank account of Lays Company: What is the adjusted balance on the bank reconciliation
Find some examples of american auto advertising : Find some examples of American auto advertising in the years since that could potentially have been influenced by DDB's VW work
Planning and managerial application : As a manager, why is Profit-Cost-Volume important in planning? Support your response with numerical example(s).
What value does certification of a house : What value does certification of a house (such as ICC 700, Energy Star, etc.) bring to the homeowner?
Discuss the expectancy model in the book : How does Anne Harrington discuss the expectancy model in the book called the Cure Within, explain with examples discuss how the exectancy model cam be used in t

Reviews

Write a Review

Accounting Basics Questions & Answers

  Write a short memo to the management team explaining the

cricket company produces many different types of pet toys. you have been hired as a cost accountant to do some basic

  How have your perspectives about race

How have your perspectives about race, gender, and class changed after completing this course and how did participating in discussions help your understanding of the subject matter? Is anything still unclear that could be clarified?

  Journal entry to record the employer payroll liability

Prepare the general journal entry to record the employer's payroll liability. Prepare the general journal entry to record the employer's payroll tax liability.

  Who establishes international financial reporting standards

Who establishes International Financial Reporting Standards

  What are the total internal failure cost for the abrams corp

What are the total internal failure costs for the Abrams Corporation? The Abrams Corporation incurred the quality costs for the year ending December

  Calculate the eps under each of the plans

XYZ corporation has a capital structure consisting of 10% debt with a market value of 5,000,000 and 500,000 ORDINARY Shares with a market value of 40,000,000.

  What is reaction to harriet suggestion

What is your reaction to Harriet's suggestion of using the cost of debt only? Is it a good idea or a bad idea? Why? Do you think capital projects should have

  How much income will Ted and Alice include in gross income

How much income will Ted and Alice include in gross income this year as a result of the foreclosure and forgiveness of indebtedness

  Calculate the total selling expense on the january

Miscellaneous administrative expenses; $5,000. Calculate the total selling expense on the January selling expense budget

  Why did they sell it for so much less than it was worth

Even though the "garage band hedge fund" had SWAPs worth 210 million dollars, Why did they sell it for so much less than it was worth

  Calculate the retailed earnings

Calculate the retailed earnings. Begin by selecting the formula, then enter the amounts and calculate the retained earnings at July 31, 2011

  What is Brown net operating loss

Brown received dividends of $100,000 from a Fortune 500 corporation, of which Brown owns 19.5%, during the current year. What is Brown's net operating loss

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