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Problem - The accounting records and bank statement of Sally's Seashell Store provide the following information at the end of April. The closing 'Cash' account balance was $15000, and the bank statement shows a closing balance of $13000. On reviewing the bank statement it is found an account customer has deposited $2000 into the bank account for a March sale and the monthly insurance premium of $5000 was automatically charged to the account. Interest of $500 was paid by the bank and a bank fee of $50 was charged to the account. A payment of $1500 to a supplier has been recorded twice in the accounts. After the calculation of the "ending reconciled cash balance", what is the balance of the 'cash' account?
Provide how the transactions will affect the accounting equation and enter how the accounts in the general ledger will be affected.
Explain how and why some changes in accounting principle are reported prospectively. why changes in estimates are reported prospectively.
Tarheel Company uses dollar value LIFO for their inventory. Determine the dollar value LIFO inventory for 2015
The truck is expected to have a salvage value of $4,000 at the end of its 3-year useful life. Compute annual depreciation for the first and second years
Gordon has 400 kilograms of plastic in beginning inventory and wants to have 550 kilograms in ending inventory. What is the cost per unit of the bins produced
in 2011 masset sold 3000 units at 300 each. variable expenses were 210 per unit and fixed expenses were 120000. the
Project A as well as project B require an initial investment of $1,050,000, have a 6-year life, Determine the cash payback period for each proposal
Much of the U.S. population is ill-informed on the positive benefits off globalization. The adverse effects of globalization contribute little to decline of U.S.
What do these two ratios (current ratio and quick ratio, previously calculated) tell about VV? (Interpret the information from the ratios)
The product's current sales are 41,700 units and its break-even sales are 33,645 units. What is the margin of safety in dollars
Find the number of current ratio as of December 31, 2018: (Round & enter your answers to one decimal place and enter the value.)
Discuss recommendations you would make to chief financial officers (CFOs) of retailers, service providers, and other businesses that lease several locations or have substantial leases of real estate or other assets. Indicate the pros and cons of each..
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