What is the correct adjusted ending cash balance

Assignment Help Financial Management
Reference no: EM132379369

Question

Texas Company was preparing its month-end bank reconciliation. The cash balance per the general ledger was $1,645. Texas's accountant discovered that the bank had charged $15 in service charges for the month, that outstanding checks were $60, and that there were no deposits in transit. What is the correct adjusted ending cash balance?

Reference no: EM132379369

Questions Cloud

Explain if the environment is a stakeholder : Explain if the environment is a stakeholder or not and why or why not? Use either support from the textbook or alternate academic sources?
Vice president of global marketing for mtv : They're knocking on the door all the time." How might Clark's perceptions that he has a job many others desire contribute to his job satisfaction?
What is growth mindset : What is a "growth mindset"? How can you incorporate it into your learning process? We have been exploring this in your reading and projects for this module.
Do you think the tangible or intangible assets : Do you think the tangible or intangible assets are more important in food service company and why?
What is the correct adjusted ending cash balance : Texas's accountant discovered that the bank had charged $15 in service charges for the month, that outstanding checks were $60.
Calculate the Meals and Entertainment tax deduction : Accounting Project Instructions - Calculate the Meals and Entertainment tax deduction for the year ended 12/31/2018
What is the financial implications reverse logistics : What is the financial implications reverse logistics has on a retailer's bottom line. Please provide an example.
What benchmark would you use to calculate materiality : The Company is still run like a start up with a small team of employees. Abdullah serves as the CEO. The CFO as Mikael Yahyah who graduated.
Why having referential integrity also means data : Why having referential integrity also means data is arranged more efficiently?

Reviews

Write a Review

Financial Management Questions & Answers

  What was her net worth at the end of the year

During the year she set aside $100 per month from her paycheck for savings and borrowed $500 from her cousin that she must pay back in January of next year. What was her net worth at the end of the year?

  Risk-adjusted return on investment

The family also has the opportunity to get a 5% risk-adjusted return on an investment on the $100,000. What should the family do in this situation?

  What is cost of equity after recapitalization

What is the WACC? What is the cost of equity after recapitalization?

  Offered the opportunity to invest in a venture

You have been offered the opportunity to invest in a venture? that will pay $4464 per year at the end of years one through three and $5494 per year at the end of years four and five. These cash flows will be placed in a savings account that will pay ..

  Multinational operations on capital budgeting decisions

What is the effect of multinational operations on capital budgeting decisions? How could Digital Domain use multimensional analysis and data mining?

  What is the dollar amount of costly trade credit

On average, what is the dollar amount of costly trade credit (total credit – free credit) the firm receives during the year?

  Best method in your opinion for a bank to gather data

What is the best method in your opinion for a bank to gather data for its research? Are we numb to phone surveys? Are Internet surveys reliable. What would some appropriate questions be for them to ask? If you were the bank's marketing manager, what ..

  What is the? firm times interest earned ratio

If Rondoelea had $36 million of debt outstanding with an average interest rate of 9.2 percent, what is the firm's times interest earned ratio?

  Reemerge as major producer of computer software

Obsolete Computer Systems, Inc. wants to reemerge as a major producer of computer software. The company has two options: Either it can purchase Upstart Software for $25m now whose products are expected to survive 5 years.

  Sustainable growth rate of earnings and dividends

Trust Bankers just paid an annual dividend of $1.9 per share. The expected dividend growth rate is 6.7 percent, the discount rate is 12 percent, and the dividends will last for 8 more years. What is the value of the stock? If the return on equity for..

  Compute the year six future value of deposits made in years

Given a 5 percent interest rate, compute the year 6 future value of deposits made in years 1, 2, 3, and 4 of $1,050, $1,250, $1,250, and $1,550.

  Discuss the concept of collaborative creativity

Explain the concept of genre expectations and how it may affect the way you view a certain film. Discuss the concept of collaborative creativity .

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