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6 | Total Assets | ||
7 | C | ||
8 | False. | It should be deducted from cost of land. | |
Amount $ | |||
9 | Bank balance as per books | 4,750.00 | |
Add: | |||
Interest Earned | 25.00 | ||
Less: | |||
Service Charges | 75.00 | ||
NSF check | 250.00 | ||
Reconciled Cash Balance | 4,450.00 | ||
Journal Entry | |||
Account | Debit $ | Credit $ | |
Bank | 25.00 | ||
Interest Earned | 25.00 | ||
6. In preparing a common-size (vertical) analysis of two income statements, what account or category would...
1) What is the amount of the outstanding
cheques at March 31?
2) Prepare the bank reconciliation at March 31.
(List items that increase balance as per bank &
books first.)
3) Prepare any journal entries required from the
reconciliation.
Problem 7-7A The bank portion of last month's bank reconciliation for Crane Ltd. at February 28 was as follows: CRANE LTD. Bank Reconciliation February 28 Cash balance per bank Add: Deposits in transit $18,022 3,126 21,148 Less: Outstanding cheques #3451...
what informaiton do i put in the cells ?
what would the bank reconcilation be based on the statement and the
cash statment
Presented below are the company's records and bank statemnt for April 2018. BANK STATEMENT TO: Nmm Sandler Company Fairbanks Alaska April 30, 2018 FAIRBANKS NATIONAL BANK LE Cash Blance 4/1/18 11,960.00 Deposits & Credits no. Total 9 9,655 Withdrawals & Debits n o. Total 10 6,644 Cash Blance 4/1/18 14,971.00 $ M e HK 4/ 2 E...
On January 1, Pulse Recording Studio (PRS) had the following
account balances.
Accounts Payable
$
8,200
Accounts Receivable
6,900
Accumulated Depreciation—Equipment
6,700
Cash
3,640
Cash Equivalents
1,640
Common Stock
10,400
Deferred Revenue
3,900
Equipment
30,300
Notes Payable (long-term)
12,400
Prepaid Rent
3,420
Retained Earnings
4,810
Supplies
510
The following transactions occurred during January.
Received $2,420 cash on 1/1 from customers on account for
recording services completed in December.
Wrote checks on 1/2 totaling $4,370 for amounts owed on account
at...
1) 1) Goods in transit are automatically included in inventory regardless of whether title has passed to the buyer. A) True B) False 2) 2) An advantage of FIFO is that it assigns the most recent costs to cost of goods sold, and does a better job of matching current costs with revenues on the income statement. A) True B) False 3) 3) Errors in the period-end inventory balance only affect the current period's records and financial statements. A) True...