Question: For each of the following items indicate whether or not
For each of the following items, indicate whether or not the balance per bank should be adjusted. For each item that affects the balance per bank, indicate whether the item should be added to (+) or subtracted from (–) the balance perbank.
Answer to relevant QuestionsUse the following information to calculate the true reconciled cash balance:What is the company’s true cash balance at April30?Fried Foods Corporation accepts MasterCard® from its customers. MasterCard charges Fried Foods a fixed fee of $125 per month plus 4.25% of MasterCard sales. If Fried Foods had MasterCard sales of $600,000 during 2011, how ...Janie Johnson is having trouble with the bank reconciliation at January 31. Her reconciliation is as follows:Cash balance per books .......... $4,015Less deposits in transit .......... 590Add outstanding checks ...Using the data from E4-26A, calculate the accounts receivable turnover ratio for 2011. On average, how many days does it take Darcy’s Floor Coverings to collect its accounts receivable?In E4-26A, at the beginning of 2011, ...A company started the year with accounts receivable of $15,000 and an allowance of $(1,500). During the year, sales (all on account) were $110,000 and cash collections for sales amounted to $105,000. Also, $1,000 worth of ...
Post your question