Homework Answers
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correct answer is option : a debit to bank fees expenses and a credit to cash
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The entry in a firm's accounting records for the monthly service charge by the bank noted...
the entry in a firm’s accounting records for a credit customer’s check that was returned by...
the entry in a firm’s accounting records for a credit
customer’s check that was returned by the bank marked “NSF” would
include
X M MHE Reader MC Qu. 9-56 Included with its bank statement a firm... Included with its bank statement a firm may receive a credit memorandum, which could indicate 1 Multiple Choice C ) bank service charge deducted from the firm's account balance 0 C ) the bank's return of a dishonored NSF check that was sued by...
Journal entry worksheet Record the bank service charge for December and NSF check returned by bank...
Journal entry worksheet Record the bank service charge for December and NSF check returned by bank Note: Enter debits before credits. Transaction Debit Credit General Journal Bank service charges Accounts receivable (Jane Jones) 775 Exercise 7.5 Bank Reconciliation (L07-3) Shown is the information needed to prepare a bank reconciliation for Warren Electric at December 31. 1. At December 31, cash per the bank statement was $15,200, cash per the company's records was $17.500. 2. Two debit memoranda accompanied the bank...
Egrane, Inc.'s monthly bank statement showed the ending balance of cash of $14,800. The bank reconciliation...
Egrane, Inc.'s monthly bank statement showed the ending balance
of cash of $14,800. The bank reconciliation for the period showed
an adjustment for a deposit in transit of $1,200, outstanding
checks of $1,600, a NSF check of $560, bank service charges of $24
and the EFT from a customer in payment of the customer's account of
$1,200.
What journal entry should be recorded by Egrane for the NSF
check returned?
MC Qu. 5-150 Egrane, Inc.s monthly bank statement.. grane, Inc.'s...
0.66points eBookReferences Check my workCheck My Work button is now disabled Item 1 Item 1 0.66...
0.66points eBookReferences Check my workCheck My Work button is now disabled Item 1 Item 1 0.66 points On March 30, a firm's bank reconciliation statement shows a book balance of $31,640, an NSF check of $800, and a service charge of $40. The journal entry on March 30 to record these items would be: DEBIT CREDIT (A) Accounts Receivable 800 Bank Fees Expense 40 Cash 840 (B) Cash 840 Bank Fees Expense 40 NSF Expense 800 (C) Miscellaneous Expenses 840...
Harry Smith operates a roller skating center. He has just received the monthly bank statement at...
Harry Smith operates a roller skating center. He has just received the monthly bank statement at September 30 from Citizen National Bank, and the statement shows an ending balance of $730. Listed on the statement are an EFT rent collecion or s300, a service charge Of 39, h ng $120, and a $10 charge tor prin ng his cash records, Smi ce ofS3.0 cks totaling $605 and a September 30 deposit in а part September 5300 check salary employee as...
The journal entry that records the collection of cash from a customer for payment on account...
The journal entry that records the collection of cash from a customer for payment on account for a sale that was recorded previously includes a debit to: Multiple Choice Accounts Receivable and credit to Cash. Cash and credit to Accounts Payable. Cash and credit to Accounts Receivable Accounts Payable and credit to Cash.
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following...
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? a. Cash, debit; Debbi Janer, Capital, credit b. Accounts Payable, debit; Cash, credit c. Accounts Receivable, debit; Cash, credit d. Accounts Payable, debit; Accounts Receivable, credit 40. Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Account titles of liabilities often include the term "payable." c. Cash...
Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After...
Tunstall, Inc., a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December 31: Account Titles Debit / Credit {Debit[Cash $ 47,200 Accounts receivable 11,300 Supplies 580 Prepaid insurance 790 Service trucks 16,300]Debit} {Credit[Accumulated depreciation$ 7,900} {Debit[Other assets 9,260}\]} (Accounts payable 2,320)]credit[ Wages payable Income taxes payable {Credit[Note payable (3 years; 10% interest due each...
1. The debit balance in Cash Short and Over at the end of an accounting period is reported as
1. The debit balance in Cash Short and Over at the end of an accounting period is reported asa. an expense on the income statementb. income on the income statementc. an asset on the balance sheetd. a liability on the balance sheet2. Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the customer. What entry is required in the company's accounts?a. debit Notes Receivable; credit Cashb. debit Cash; credit Miscellaneous Incomec. debit...
A business purchases equipment costing $5,500. They pay $1,500 right away and charge the remaining amount....
A business purchases equipment costing $5,500. They pay $1,500 right away and charge the remaining amount. To record this transaction, the business would: Multiple Choice Debit Equipment $4,000; Credit Accounts Payable $4,000 Debit Equipment $1,500: Credit Cash $1,500 Debit Equipment $5,500; Credit Cash $1.500 and Credit Accounts Payable $4.000 Debit Equipment $5,500; Credit Accounts Payable $5,500 The total of the figures on the left side of a Cash T account is $27,800. The total of the figures on the right...
the entry in a firm’s accounting records for a credit
customer’s check that was returned by the bank marked “NSF” would
include
X M MHE Reader MC Qu. 9-56 Included with its bank statement a firm... Included with its bank statement a firm may receive a credit memorandum, which could indicate 1 Multiple Choice C ) bank service charge deducted from the firm's account balance 0 C ) the bank's return of a dishonored NSF check that was sued by...
Journal entry worksheet Record the bank service charge for December and NSF check returned by bank Note: Enter debits before credits. Transaction Debit Credit General Journal Bank service charges Accounts receivable (Jane Jones) 775 Exercise 7.5 Bank Reconciliation (L07-3) Shown is the information needed to prepare a bank reconciliation for Warren Electric at December 31. 1. At December 31, cash per the bank statement was $15,200, cash per the company's records was $17.500. 2. Two debit memoranda accompanied the bank...
Egrane, Inc.'s monthly bank statement showed the ending balance
of cash of $14,800. The bank reconciliation for the period showed
an adjustment for a deposit in transit of $1,200, outstanding
checks of $1,600, a NSF check of $560, bank service charges of $24
and the EFT from a customer in payment of the customer's account of
$1,200.
What journal entry should be recorded by Egrane for the NSF
check returned?
MC Qu. 5-150 Egrane, Inc.s monthly bank statement.. grane, Inc.'s...
Harry Smith operates a roller skating center. He has just received the monthly bank statement at September 30 from Citizen National Bank, and the statement shows an ending balance of $730. Listed on the statement are an EFT rent collecion or s300, a service charge Of 39, h ng $120, and a $10 charge tor prin ng his cash records, Smi ce ofS3.0 cks totaling $605 and a September 30 deposit in а part September 5300 check salary employee as...
The journal entry that records the collection of cash from a customer for payment on account for a sale that was recorded previously includes a debit to: Multiple Choice Accounts Receivable and credit to Cash. Cash and credit to Accounts Payable. Cash and credit to Accounts Receivable Accounts Payable and credit to Cash.
39. Cash was paid by Janer's Cleaning Service to creditors on account. Which of the following entries for Janer's Cleaning Service records this transaction? a. Cash, debit; Debbi Janer, Capital, credit b. Accounts Payable, debit; Cash, credit c. Accounts Receivable, debit; Cash, credit d. Accounts Payable, debit; Accounts Receivable, credit 40. Which of the following statements is not true about liabilities? a. Liabilities are debts owed to outsiders. b. Account titles of liabilities often include the term "payable." c. Cash...
A business purchases equipment costing $5,500. They pay $1,500 right away and charge the remaining amount. To record this transaction, the business would: Multiple Choice Debit Equipment $4,000; Credit Accounts Payable $4,000 Debit Equipment $1,500: Credit Cash $1,500 Debit Equipment $5,500; Credit Cash $1.500 and Credit Accounts Payable $4.000 Debit Equipment $5,500; Credit Accounts Payable $5,500 The total of the figures on the left side of a Cash T account is $27,800. The total of the figures on the right...
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