Solution-What would be the entries recorded

What would be the entries recorded

Assignment Help Accounting Basics

Reference no: EM133186727

Question - Newport Manufacturing has prepared the following bank reconciliation statement:

Cash balance per bank statement	$4,560.20
Add: Deposits in transit	3240

Less: Outstanding checks	1520
Adjusted cash balance per bank	$6,280.20

Cash balance per books	$5,790.20
Add: bank collection bill receivable	2600
Bank collection interest	130
Less: NSF check	$2,020.00
Bank service charge	220
Adjusted cash balance per books	$6,280.20

The accountant has not yet prepared the accounting entries in the book.

Required - What would be the entries recorded?

Reference no: EM133186727

Questions Cloud

What is the machine internal rate of return : The machine would cost $113,730, including freight and installation. What is the machine internal rate of return

Show how you can take advantage of this series : Assuming that you have $1,000,000 in cash, show how you can take advantage of this series of exchange rates and the profit you would make

Should birch close the plant for two months : Birch Company normally produces and sells 48,000 units of RG-6 each month. Should Birch close the plant for two months

Describe the macroeconomic impacts of covid-19 : Implement a wide variety of economic stimulus and support packages and Describe the macroeconomic impacts of Covid-19

What would be the entries recorded : The accountant has not yet prepared the accounting entries in the book. What would be the entries recorded

Network management team forming : Provide the email communication between you and your teammate for marking as well as the member details (name, student-id) of your team

Industry report and company report : The market structure of the industry by determining the concentration ratio in the industry and how market structure affects the entry into the market

What was the total actual cost of the direct materials : You find a copy of the budget which shows that materials were budgeted at $0.60/unit. What was the total actual cost of the direct materials

Prepare a perpetual inventory record for the cricket bats : Prepare a perpetual inventory record for the Cricket Bats. Then determine the amounts Cricket Central should report for ending inventory

User Account

All Pages

What would be the entries recorded

Reference no: EM133186727

Reference no: EM133186727

Questions Cloud

Reviews

Write a Review

Accounting Basics Questions & Answers

How much control does fed have over this longer real rate

Coures:- fundamental accounting principles

Accounting problems

Theory of interest - term structure of interest rates

Write a report on internal controls

Prepare the bank reconciliation for company

Cost-benefit analysis

Theory of interest

Liquidity and profitability

What is the expected risk premium on the portfolio

Simple interest and compound interest

Capm and venture capital

Assured A++ Grade

Academics

Major Subjects

Majors

Get In Touch

TERMS & POLICIES

HELP & SUPPORT