User Account

All Pages

What is the balance of the cash account

Assignment Help Accounting Basics
Reference no: EM132996822

Question - 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 $47000, and the bank statement shows a closing balance of $46500. On reviewing the bank statement it is found an account customer has deposited $5500 into the bank account for a March sale and the monthly insurance premium of $9000 was automatically charged to the account. Interest of $600 was paid by the bank and a bank fee of $125 was charged to the account. A payment of $475 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?

Reference no: EM132996822

Questions Cloud

Does Tara have any remedies against either Samuel or Phantom : Tara Lambert, an accountant, controlled a few companies. Does Tara have any remedies against either Samuel or Phantom Developments? Discuss
How has learning about the dmaic process informed : What have you learned about yourself as a manager of organizational conflict? What will be your strengths in resolving conflicts? What weaknesses can identify?
Compute the interest rate implicit in the lease : ABC Ltd has entered into an agreement to lease an item of equipment that produces teddy bears. Compute the interest rate implicit in the lease
Explain four exceptions to the warrant requirement : Discuss and explain four exceptions to the warrant requirement. What are the prerequisites for each exception? Be sure to provide examples.
What is the balance of the cash account : Interest of $600 was paid by the bank and a bank fee of $125 was charged to the account. What is the balance of the cash account
What is an acceptable degree of federal supervision : What is an acceptable degree of federal supervision of and intervention in state and local configuration of their command and response structures?
How much will you have to deposit now : You want to have a $ 83,770 college fund in 20 years. How much will you have to deposit now in an account with an APR of 1.5 % and monthly compounding
Observations on physical, cognitive and social development : Write THREE observations on physical, cognitive and social development, making links to Early Years Learning Framework Outcomes
How to incorporate visual aids in presentation : Present a variety of draft visuals that are aligned to the topic, purpose, and audience of your presentation as well as clear, purposeful, and appropriate.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd