5. Below are the bank columns of the cash journal of WWE and its account statement...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
5. Below are the bank columns of the cash journal of WWE and its account statement for November 2014. Cashbook (bank column only) 2014 2014 01-Nov Balance b/d 05-Nov Cash deposit 08-Nov Great Khali 12-Nov Batista 15-Nov Cash deposit 25-Nov King Buka 28-Nov Bobby Lashley ii. Date Balance b/d Description $ 19,800 5,600 5,500 2,500 6,500 1,900 1,300 Additional information: 43,100 19,950 2014 1-Nov Balance brought forward. 4-Nov Cheque withdrawal - J Ventures 5-Nov Cash deposit Account Statement 10-Nov Cheque deposit - G Khali 11-Nov Cheque withdrawal - Veg Utilities 12-Nov Cheque withdrawal - Tripple H 14-Nov Cheque deposit - Batista 15-Nov Cash deposit 02-Nov Jada Ventures 08-Nov Veg Utilities 10-Nov Tripple H 15-Nov Kurt Angle 22-Nov John Cena 28-Nov Umaga 29-Nov Undertaker 30-Nov JH Medics 30-Nov Balance c/d 18-Nov Cheque withdrawal - Kurt Angle 24-Nov Cheque withdrawal - John Cena 25-Nov Wire transfer - Randy Orton 28-Nov Mortgage payment - Papa's Property 29-Nov Pre-authorised payment - Insurance 30-Nov Monthly charge Withdrawal Deposit $ $ 3,700 4,500 3,600 2,800 4,500 2,500 1,200 10 5,600 5,500 2,500 6,500 2,100 $ 3,700 4,500 3,600 2,800 450 2,900 2,400 2,800 19,950 43,100 Balance $ 19,800 16,100 21,700 27,200 22,700 19,100 21,600 28,100 25,300 20,800 22,900 20,400 19,200 19,190 The mortgage deduction (i.e. to Papa's Property) was a mistake on the part of the bank. WWE made the final payment to Papa's Property at the end of September 2014. The amount on the cheque to John Cena is $4,500. Required: (a) Update the cashbook of WWE. (b) Prepare a statement to reconcile the cashbook balance with the bank statement balance. 5. Below are the bank columns of the cash journal of WWE and its account statement for November 2014. Cashbook (bank column only) 2014 2014 01-Nov Balance b/d 05-Nov Cash deposit 08-Nov Great Khali 12-Nov Batista 15-Nov Cash deposit 25-Nov King Buka 28-Nov Bobby Lashley ii. Date Balance b/d Description $ 19,800 5,600 5,500 2,500 6,500 1,900 1,300 Additional information: 43,100 19,950 2014 1-Nov Balance brought forward. 4-Nov Cheque withdrawal - J Ventures 5-Nov Cash deposit Account Statement 10-Nov Cheque deposit - G Khali 11-Nov Cheque withdrawal - Veg Utilities 12-Nov Cheque withdrawal - Tripple H 14-Nov Cheque deposit - Batista 15-Nov Cash deposit 02-Nov Jada Ventures 08-Nov Veg Utilities 10-Nov Tripple H 15-Nov Kurt Angle 22-Nov John Cena 28-Nov Umaga 29-Nov Undertaker 30-Nov JH Medics 30-Nov Balance c/d 18-Nov Cheque withdrawal - Kurt Angle 24-Nov Cheque withdrawal - John Cena 25-Nov Wire transfer - Randy Orton 28-Nov Mortgage payment - Papa's Property 29-Nov Pre-authorised payment - Insurance 30-Nov Monthly charge Withdrawal Deposit $ $ 3,700 4,500 3,600 2,800 4,500 2,500 1,200 10 5,600 5,500 2,500 6,500 2,100 $ 3,700 4,500 3,600 2,800 450 2,900 2,400 2,800 19,950 43,100 Balance $ 19,800 16,100 21,700 27,200 22,700 19,100 21,600 28,100 25,300 20,800 22,900 20,400 19,200 19,190 The mortgage deduction (i.e. to Papa's Property) was a mistake on the part of the bank. WWE made the final payment to Papa's Property at the end of September 2014. The amount on the cheque to John Cena is $4,500. Required: (a) Update the cashbook of WWE. (b) Prepare a statement to reconcile the cashbook balance with the bank statement balance.
Expert Answer:
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
Students also viewed these accounting questions
-
Batista Corporation has been incorporated for 30 years. Its current paid-in capital is shown to the right. Batista has been expanding its operations; its board of directors declared a small dividend...
-
JOURNAL DATE DESCRIPTION DEBIT CREDIT 1 12-Jan Wages & Salaries 1 2 FICA Taxes PayableOASDI 2 3 FICA Taxes PayableHI 3 4 Employees FIT Payable 4 5 Employees SIT Payable 5 6 Employees SUTA Payable 6 7...
-
For A = 3i + j k, B = i + 2j + 5k, and C = 2j 3k, find C (A B).
-
1. Conduct a SWOT analysis for HHI's proposed electronic commerce Web site. You can use the information in the case narrative, your personal knowledge of the retail hardware industry, and information...
-
Shown here are the data for y and three predictors, x1, x2, and x3. A multiple regression analysis has been done on these data; the Minitab results are given. Comment on the outcome of the analysis...
-
Select the correct statement from the following. a. A fixed cost structure offers less risk (i.e., less earnings volatility) and higher opportunity for profitability than does a variable cost...
-
PWC Corp. accounting records include the following items, listed in no particular order, at December 31, 2008 : Prepare PWC's income statement for the year ended December 31, 2008. Omit earnings per...
-
Name three efficiency criteria that might be considered when choosing a multi project scheduling system.
-
The Federal Open Market Committee (FOMC) on September 21st and 22nd, 2021. Summarize the action(s), if any, taken by the FOMC. (i.e. investment purchasing, monitoring of the federal funds rate, etc.)...
-
Yin & Yang Video has the following unadjusted trial balance as of January 31, 2010: The debit and credit totals are not equal as a result of the following errors: a. The balance of cash was...
-
The following Potential Energy (PE) curves indicate the formation of a single bond and triple bond (not necessary in that order) between two identical atoms. Curve A represents the formation of a...
-
What is the moral hazard problem, and how do insurers mitigate it?
-
What is the primary purpose of healthcare reform?
-
The factor for which it is most difficult to estimate its effect on the unemployment rate is: A. technological progress. B. the use of temporary workers. C. the nature of underemployment.
-
What are the five account types used in financial accounting?
-
What is the difference in goals between investor-owned and not for- profit businesses?
-
Questions 37 up to 43 should be answered from the following Federal Reserve Bank Balance Sheet: Assets Treasury securities held outright Table: Federal Reserve Balance Sheet. Liabilities + NW 5,397...
-
Define cultural intelligence. Cite the books or journal articles you found in Capella's library. Explain why cultural intelligence is important for HR practitioners and other organizational managers.
-
Mary paid $2,000 of state income taxes in 2012. The total sales tax she paid during 2012 was $5,500, which included $3,000 for the cost of a new car. How should Mary treat the taxes paid on her 2012...
-
Indicate whether each of the items listed below would be included (I) in or excluded (E) from gross income for the 2012 tax year. ________a. Welfare payments ________b. Commissions ________c. Hobby...
-
Ray and Maria Gomez have been married 3 years. They live at 1610 Quince Ave., McAllen, TX 78701. Ray works for Palm Oil Corporation and Maria works for the City of McAllen. Maria's Social Security...
-
List each of the six branches of AI and briefly explain each one.
-
What are the three components of an Expert System (ES) program? Explain what each component does.
-
When training a machine learning application, developers can use one of three different approaches: supervised learning, unsupervised learning, and reinforcement learning. Describe each strategy and...
Study smarter with the SolutionInn App