What is the correct way to record the journal entry

Assignment Help Financial Accounting
Reference no: EM133328108

Question: A check was deposited in error and cleared the bank account for company A (example). The check deposited in error was written for company B(let's say). Company A wrote a check to company B to return the money. Company C (example) wrote the check for Company B, not company A, and is not a customer or vendor to company A. What is the correct way to record the journal entry?

Reference no: EM133328108

Questions Cloud

Why it is important to budget and forecast the cash flow : Discuss how a rolling forecast vs. a fixed budget could help forecast cash flows and why that might be important to any organization?
The European Renaissance : Which of the following statements about the papal-imperial conflict is TRUE? The European Renaissance.
What is the percentage change in ownership : What is the amount of goodwill arising from the business combination and What is ABC's percentage ownership in 123 at acquisition
What is the undiscounted opportunity cost over ten years : What is the undiscounted opportunity cost over ten years of taking the new job instead of staying with the current job?
What is the correct way to record the journal entry : ACCT 4270 University of North Texas, Dallas wrote the check for Company B, not company A, and is not a customer or vendor to company A. What is the correct way
Explain how history is creative act : Explain the relationship between how historians use primary sources and secondary sources. Explain how a history is a creative act.
What must you invest today to receive an $18,000 annuity : BUS 210 CUNY Borough of Manhattan Community College What must you invest today to receive an $18,000 annuity for 5 years semiannually at a 10% annual rate
What information would you need for the analysis : What information would you need for the analysis? How would you use it to advise the HMO? How would you allocate your resources? Include concrete examples
What is trench warfare : What is trench warfare, and why was so much of World War I dominated by this method of fighting?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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