What the adjusted cash balance

Assignment Help Financial Accounting
Reference no: EM132947851

Question - ABC Company shows the following information as of May 31 of the current year:

Cash balance per books 90,000

Cash balance per bank statement 283,000

Proceeds from bank loan 200,000

Customer NSF check, Php5,000 of which is redeposited during the month 20,000

Service charge 2,000

Interest from the bank loan charged by the bank 5,000

Outstanding checks, Php5,000 were outstanding since last month 50,000

Deposit in transit 30,000

Required - What the adjusted cash balance?

Reference no: EM132947851

Questions Cloud

Calculate the after-tax cost of debt using yield to maturity : The interest is paid annually at a rate of 12 percent. The firm tax rate is 40 percent. Calculate the after-tax cost of debt using yield to maturity method
What is the transfer price that Kring should charge : Assuming the management chooses the third option, what is the transfer price that Kring should charge to the unprofitable product line
What would you charge the landlord as minimum compensation : At a 8% discounting rate, what would you charge the landlord as minimum compensation to buy the lease back from you
Is this enough evidence to conclude that the oil wells : Is this enough evidence to conclude that the oil wells are not producing an average of 22.5 barrels of crude oil per day? Test at 0.01 level of significance
What the adjusted cash balance : ABC Company shows the following information as of May 31 of the current year: Cash balance per books 90,000. What the adjusted cash balance
Explain to Jake Smoke what could go wrong in the revenue : Explain to Jake Smoke what could go wrong in the revenue and receipts cycle, assuming that all staff are honest but careless and not very control aware
What amount of discount is amortized for the year ended : The effective interest method is used in amortizing discount and issue cost. What amount of discount is amortized for the year ended December 31, 2019
Australian governments regarding the sustainable energy : The German government is closing down all their nuclear power plants and will rely solely on renewable power. Are the U.S. and France missing an opportunity to
What is the balance of allowance for doubtful accounts : Cash refunds given to cash customers for sales returns and allowances- 20,000. What is the balance of allowance for doubtful accounts on December

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