A company's bank statement indicated there as a cash balance of $17,630 on June 30. Other...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
A company's bank statement indicated there as a cash balance of $17,630 on June 30. Other facts: a. Outstanding checks on June 30 totaled $8,290. b. The company had received $3,000 from a customer on June 29 and deposited it in the bank the same afternoon, but it was too late for it to appear on the June 30 bank statement. c. On June 16 the bank had collected a note that was due to the company from a customer. The principal amount of the note was $5,000 and a total of $5,030 appeared on the company's June 30 bank statement. d. The bank had added $40 to the June statement for bank service charges. What is the total amount on the adjusted ending bank balance as of June 30 after the bank reconciliation is prepared? $ O X A company's bank statement indicated there as a cash balance of $17,630 on June 30. Other facts: a. Outstanding checks on June 30 totaled $8,290. b. The company had received $3,000 from a customer on June 29 and deposited it in the bank the same afternoon, but it was too late for it to appear on the June 30 bank statement. c. On June 16 the bank had collected a note that was due to the company from a customer. The principal amount of the note was $5,000 and a total of $5,030 appeared on the company's June 30 bank statement. d. The bank had added $40 to the June statement for bank service charges. What is the total amount on the adjusted ending bank balance as of June 30 after the bank reconciliation is prepared? $ O X
Expert Answer:
Answer rating: 100% (QA)
lets reconcile the companys bank statement and find the adjusted ending balance Cash bal... View the full answer
Related Book For
Intermediate Accounting principles and analysis
ISBN: 978-0471737933
2nd Edition
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
Posted Date:
Students also viewed these finance questions
-
The mass (in kg) of a soil specimen is measured to be X = 1.18 ± 0.02. After the sample is dried in an oven, the mass of the dried soil is measured to be Y = 0.85 ± 0.02. Assume that X...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
Research about the competitive and comparative advantage of the Argentina in terms of physical and human resources and how it is making use of these resources for international trade purpose. 3....
-
Explain relationships between patents and copyrights.
-
1. What forms of interpersonal power does Larry Ellison use and how does he use them? 2. How do the two faces of power relate to Larry Ellisons actions? 3. Does Larry Ellison use power ethically?...
-
Why is the anterior pituitary sometimes called the master gland?
-
Kester Electronics had a fixed factory overhead budget for 20X0 of $72 million. The company planned to make and sell 9 million units of a particular communications device. All variable manufacturing...
-
Analyze contemporary trends and issues in effective supply chain management and three resources that students can gain relevant skills and knowledge related to contemporary trends and issues...
-
Consider the unadjusted trial balance of Burrows Landscaping at December 31, 2023, and the related month-end adjustment data: The following adjustments need to be made on December 31 before the...
-
In late 2002, Albert (Al) Fiorini was becoming more and more frustrated and depressed. In September 2002, he had taken a leave of absence to return to school to earn his MBA, and he had trusted some...
-
Elon Inc. is a solar battery manufacturer. It would like to lease a specialized equipment to make the production of its batteries more efficient. Elon Inc. can lease the equipment for the term equal...
-
How do digital technologies and virtual reality platforms expand the possibilities of performance art, and what are the challenges they pose to traditional theatrical conventions?
-
You are reading a Journal that was generated by accounting software, what information should you expect to find for each transaction?
-
What are some examples of intercultural theater productions that successfully navigate cultural boundaries and challenge ethnocentric perspectives?
-
Jack earned $75,000 last year. During the year he made a charitable donation of $5,000 to the Canadian Heart and Stroke Foundation. He will be entitled to claim a non-refundable federal tax credit of?
-
Frank wonders whether corresponding angles are always congruent. For parts (a) through (d) below, use tracing paper to determine whether corresponding angles are congruent. Then, if you have enough...
-
The executor of Gina Purcells estate has recorded the following information: Assets discovered at death (at fair value): Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ....
-
Crosby Corporation is planning to issue 3,000 shares of its own $10 par value common stock for two acres of land to be used as a building site. Instructions (a) What general rule should be applied to...
-
The financial statements of General Mills, Inc. report net sales of $5,416,000,000. Accounts receivable are $277,300,000 at the beginning of the year and $337,800,000 at the end of the year. Compute...
-
Mardi Gras Company has not yet prepared a formal statement of cash flows for the 2008 fiscal year. Comparative balance sheets as of December 31, 2007 and 2008, and a statement of income and retained...
-
Action Quest Games adjusts its accounts annually. The following information is available for the year ended December 31, 2025. 1. Purchased a 1-year insurance policy on June 1 for $1,800 cash. 2....
-
With each pass of a comet about the Sun, the comets mass (a) remains virtually unchanged. (b) actually increases. (c) is appreciably reduced.
-
Why is carbon such a special atom?
Study smarter with the SolutionInn App