Question: Ryan Patrick operates a roller skating center He has just
Ryan Patrick operates a roller skating center. He has just received the monthly bank statement at June 30 from Citizens National Bank, and the statement shows an ending balance of $750. Listed on the statement are an EFT rent collection of $409, a service charge of $7, two NSF checks totaling $120, and a $10 charge for printed checks. In reviewing his cash records, Patrick identifies outstanding checks totaling $610 and a June 30 deposit in transit of $1,765. During June, he recorded a $270 check for the salary of a part-time employee as $27. Patrick’s Cash account shows a June 30 cash balance of $1,876. How much cash does Patrick actually have at June 30, 2014?
Answer to relevant QuestionsMcIntosh Stores use point-of-sale terminals as cash registers. The register shows the amount of each sale, the cash received from the customer, and any change returned to the customer. The machine also produces a customer ...Use the data from Exercise 4-29B to make the journal entries that Donney should record on August 31 to update his Cash account. Include an explanation for each entry.In Exercise 4-29B, Joe Donney operates a roller skating ...Finnish Imports is an importer of silver, brass, and furniture items from Finland. Lois Ferguson is the general manager of Finnish Imports. Ferguson employs two other people in the business. Mandy Martin serves as the buyer ...Pepper Company made sales of $53,376 million during 2014. Cost of goods sold for the year totaled $24,437 million. At the end of 2013, Pepper’s inventory stood at $2,672 million, and Pepper ended 2014 with inventory of ...Lasley & Linderman, a partnership, had the following inventory data:Lasley and Linderman need to know the company’s gross profit percentage and rate of inventory turnover for 2014 under1. FIFO.2. LIFO.Which method ...
Post your question