Homework Answers
Collection float occurs when you deposit a check but not cleared/credited in your bank account more the collection float means more delay in actual receipt of cash flow.hence its not a objective of cash management.objective should be shorten the cash float
Answer is a An Important objective of cash management is to lengthen the collection float
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Which of the following is not true regarding cash management? a. An important objective of cash...
excel format Learning Objective 6 P8-33B Preparing a bank reconciliation and journal entries The May cash...
excel format
Learning Objective 6 P8-33B Preparing a bank reconciliation and journal entries The May cash records of Donald Insurance follow: 1. Adjusted Balance $17,580 Cash Payments Check No. Cash Credit 1416 $ 890 Cash Receipts Date Cash Debit May 4 $ 4,230 520 530 1,950 1,840 1417 120 1418 1419 1420 1421 1422 630 1,090 1,420 900 670 Donald's Cash account shows a balance of $17,750 at May 31. On May 31, Donald Insurance received the following bank statement:...
Please explain your answer. Thank you! Learning Objective 6 P7-27A Preparing a bank reconciliation and journal...
Please explain your answer. Thank you!
Learning Objective 6 P7-27A Preparing a bank reconciliation and journal entries The December cash records of Davidson Insurance follow: 1. Adjusted Balance $18,025 Cash Receipts Cash Payments Check No Cash Credit Date Dec. 4 9 Cash Debit $ 4,240 550 $ 810 1416 1417 180 600 1418 630 17 1419 1,900 1,860 1420 1,390 1,490 700 1421 1422 600 Davidson's Cash account shows a balance of $17,450 at December 31. On December 31, Davidson...
P8-27A Preparing a bank reconciliation and journal entries The December cash records of Davidson Insurance follow
P8-27A Preparing a bank reconciliation and journal entries The December cash records of Davidson Insurance follow Davidson's Cash account shows a balance of $17,450 at December 31. On December 31, Davidson Insurance received the following bank statement: Explanations: BC-bank collection; EFT-electronic funds transfer; NSF-nonsufficient funds checks; SC-service charge Additional data for the bank reconciliation follow: a. The EFT credit was a receipt of rent. The EFT debit was an insurance payment. b. The NSF check was received from a customer. c. The $1,400 bank collection was for a...
IL. (20') The December cash record of ABB Insurance follow: Cash Receipts- Cash Payments Check No....
IL. (20') The December cash record of ABB Insurance follow: Cash Receipts- Cash Payments Check No. Date Cash Debit Cash Credit Dec 3 S 4,150 540 560 2,190 1,870 2416 2417 2418 2419 2420 2421 2422 S 850 160 670 1,690 1,450 1,200 640 16 23 31 ABB Insurance's cash account shows a balance of $16,650 at December 31. On December 31, the received the following bank statement: Bank Statement for December Beginning Balance $14,000 Checks and other Debits Dec....
1) Which of the following is true regarding the transfer of checkable deposits in the U.S....
1) Which of the following is true regarding the transfer of checkable deposits in the U.S. payments mechanism? Select one: A. Checkable deposits can only be transferred by writing a check. B. Electronic funds transfers can no longer be used to transfer checkable deposits. C. A financial intermediary is generally unnecessary when tranferring checkable deposits. D. None of the above. 2) Which of the following sectors is always a net borrower of funds from the U.S. financial markets? Select one:...
P7-27A Preparing a bank reconciliation and journal entries The December cash records of Davidson Insurance for...
P7-27A Preparing a bank reconciliation and journal entries The December cash records of Davidson Insurance for Learning Objective 1. Adved Balance 5 Cash Receipts Date Cash Debit Dec 4 $4,240 Cash Payments Check No. $ 810 1417 Cash Credit 1416 630 1.900 1,860 1418 1419 1420 1421 1422 1,390 1,490 700 600 Davidson's Cash account shows a balance of $17.450 at December 31. On December 31. Davidson Insurance received the following bank statement NSF PIZ $ 14,100 550 9.040 Bank...
11, (20') The December cash record ofABB i Insurance follow: Date Cash Debit Check No. Cash...
11, (20') The December cash record ofABB i Insurance follow: Date Cash Debit Check No. Cash Credit Dee 3 S 4,150 2416 2417 2418 2419 2420 2421 2422 5 850 160 670 1,690 1,450 1,200 640 16 23 31 560 2,190 1,870 ce's cash account shows a balance of $16,650 at December 31. On December 31, the company ABB Insuran received the following bank statement: Bank Statement for December Beginning Balance $14,000 sits and other Credits EFT ec $ 400...
P4-48B. (Learning B. (Learning Objective 4: Prepare a bank reconciliation) The cash data of Eddy Auto-...
P4-48B. (Learning B. (Learning Objective 4: Prepare a bank reconciliation) The cash data of Eddy Auto- LOG cive for October 2018 follow: Cash Account No. 101 Date lem Jenl. Ref. Debit Credit Balance October 1 Balance CR6 CP 11 9,330 7,950 17280 7,158 10,122 Cash Payments (CP) Cash Receipts (CR) Date Cash Debit October 2 $ 2,828 597 1,652 837 360 904 2,152 Total $9,330 Cash Credit $ 1,542 1,729 1,830 Check No. 3113 3114 3115 3116 3117 3118 3119...
c. Sales tax payable of $14,400. IL. (20') The December cash record of ABB Insurance follow...
c. Sales tax payable of $14,400. IL. (20') The December cash record of ABB Insurance follow yments b Cash Receipts Check No. Cash Credit Date Cash Debit Dec 3 S 850 S 4,150 540 560 2,190 1,870 2416 2417 2418 2419 2420 2421 2422 160 670 1,690 1,450 1,200 640 16 s cash account shows a balance of $16,650 at December 31. On December 31, the compang received the following bank statement Bank Statement for December Beginning Balance $14,000 Deposits...
Please complete in excel P8-25A Preparing a bank reconciliation and journal entries The December cash records of Dunlap...
Please complete in excel
P8-25A Preparing a bank reconciliation and journal entries The December cash records of Dunlap Insurance follow Cash Receipts Cash Payments Cash Debit Check No. Cash Credit Date Dec. 4 S 860 $ 4,170 1416 510 1417 130 1418 530 14 650 17 1419 2,180 1,490 1420 1,440 1,850 1421 900 1422 630 Dunlap's Cash account shows a balance of $16,740 at December 31. On December 31, Dunlap Insurance received the following bank statement Bank Statement for...
excel format
Learning Objective 6 P8-33B Preparing a bank reconciliation and journal entries The May cash records of Donald Insurance follow: 1. Adjusted Balance $17,580 Cash Payments Check No. Cash Credit 1416 $ 890 Cash Receipts Date Cash Debit May 4 $ 4,230 520 530 1,950 1,840 1417 120 1418 1419 1420 1421 1422 630 1,090 1,420 900 670 Donald's Cash account shows a balance of $17,750 at May 31. On May 31, Donald Insurance received the following bank statement:...
Please explain your answer. Thank you!
Learning Objective 6 P7-27A Preparing a bank reconciliation and journal entries The December cash records of Davidson Insurance follow: 1. Adjusted Balance $18,025 Cash Receipts Cash Payments Check No Cash Credit Date Dec. 4 9 Cash Debit $ 4,240 550 $ 810 1416 1417 180 600 1418 630 17 1419 1,900 1,860 1420 1,390 1,490 700 1421 1422 600 Davidson's Cash account shows a balance of $17,450 at December 31. On December 31, Davidson...
IL. (20') The December cash record of ABB Insurance follow: Cash Receipts- Cash Payments Check No. Date Cash Debit Cash Credit Dec 3 S 4,150 540 560 2,190 1,870 2416 2417 2418 2419 2420 2421 2422 S 850 160 670 1,690 1,450 1,200 640 16 23 31 ABB Insurance's cash account shows a balance of $16,650 at December 31. On December 31, the received the following bank statement: Bank Statement for December Beginning Balance $14,000 Checks and other Debits Dec....
P7-27A Preparing a bank reconciliation and journal entries The December cash records of Davidson Insurance for Learning Objective 1. Adved Balance 5 Cash Receipts Date Cash Debit Dec 4 $4,240 Cash Payments Check No. $ 810 1417 Cash Credit 1416 630 1.900 1,860 1418 1419 1420 1421 1422 1,390 1,490 700 600 Davidson's Cash account shows a balance of $17.450 at December 31. On December 31. Davidson Insurance received the following bank statement NSF PIZ $ 14,100 550 9.040 Bank...
11, (20') The December cash record ofABB i Insurance follow: Date Cash Debit Check No. Cash Credit Dee 3 S 4,150 2416 2417 2418 2419 2420 2421 2422 5 850 160 670 1,690 1,450 1,200 640 16 23 31 560 2,190 1,870 ce's cash account shows a balance of $16,650 at December 31. On December 31, the company ABB Insuran received the following bank statement: Bank Statement for December Beginning Balance $14,000 sits and other Credits EFT ec $ 400...
P4-48B. (Learning B. (Learning Objective 4: Prepare a bank reconciliation) The cash data of Eddy Auto- LOG cive for October 2018 follow: Cash Account No. 101 Date lem Jenl. Ref. Debit Credit Balance October 1 Balance CR6 CP 11 9,330 7,950 17280 7,158 10,122 Cash Payments (CP) Cash Receipts (CR) Date Cash Debit October 2 $ 2,828 597 1,652 837 360 904 2,152 Total $9,330 Cash Credit $ 1,542 1,729 1,830 Check No. 3113 3114 3115 3116 3117 3118 3119...
c. Sales tax payable of $14,400. IL. (20') The December cash record of ABB Insurance follow yments b Cash Receipts Check No. Cash Credit Date Cash Debit Dec 3 S 850 S 4,150 540 560 2,190 1,870 2416 2417 2418 2419 2420 2421 2422 160 670 1,690 1,450 1,200 640 16 s cash account shows a balance of $16,650 at December 31. On December 31, the compang received the following bank statement Bank Statement for December Beginning Balance $14,000 Deposits...
Please complete in excel
P8-25A Preparing a bank reconciliation and journal entries The December cash records of Dunlap Insurance follow Cash Receipts Cash Payments Cash Debit Check No. Cash Credit Date Dec. 4 S 860 $ 4,170 1416 510 1417 130 1418 530 14 650 17 1419 2,180 1,490 1420 1,440 1,850 1421 900 1422 630 Dunlap's Cash account shows a balance of $16,740 at December 31. On December 31, Dunlap Insurance received the following bank statement Bank Statement for...
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