Question: At the end of April Meyer Company had a 7 890
At the end of April, Meyer Company had a $7,890 balance in its cash account, while its bank statement for April showed an ending cash balance of $7,200. The April bank statement showed $10 of interest earned by Meyer on its checking account and a $200 NSF check written by one of Meyer’s customers. Meyer’s records show a $600 deposit in transit and $100 of outstanding checks at the end of April. Prepare the bank reconciliation of Meyer Company for April.
Relevant QuestionsOn December 8, 2010, Lynch Incorporated sold $9,000 of merchandise with terms 2/10, n/EOM. On December 18, 2010, collections were made on sales originally billed for $5,000, and on December 31, 2010, additional collections ...The 2011 audit of the accounting records of the Lane Company discloses the following information:Required1. Reconstruct the journal entries that were made by Lane during 2011 to record changes in the following accounts, ...Reid & Company uses the periodic inventory system. On January 1, it had an inventory balance of $250,000.During the year, it made $613,000 of net purchases. At the end of the year, a physical inventory showed it had ending ...Using the information from RE8-10, calculate Carla Company’s cost of goods sold for January and its January 31 inventory using the LIFO method.In RE8-10, Carla Company uses the perpetual inventory system. The following ...On June 21, 2010, the Livingston Company, a U.S. company, sold merchandise on credit to a Swiss company for 25,000 francs. The company received payment for the merchandise on July 10, 2010. The exchange rates on June 21 and ...
Post your question