explain the solution: ACCT 223 1) * Anderson Corporation had the following information for the month ended
Fantastic news! We've Found the answer you've been seeking!
Question:
explain the solution:
Transcribed Image Text:
ACCT 223 1) * Anderson Corporation had the following information for the month ended September 30, 2023: The balance per the company's general leder at 9/30 was $100,000. The balance per the bank statement as of 9/30 was $95,000. Deposits sent to the bank after hours totaled $5,000. * Checks issued but not yet cleared the bank totaled $1,000. * * 2) * * * * The bank charged Anderson Corp. a $50 fee for administrative expenses. The bank credited Anderson Corp. $150 in interest earned on their checking account. A customer's check for $100 was returned as an NSF check. A deposit for $3,000 was made but mistakenly recorded by the bank as $2,000. Prepare a Bank Reconcilation in proper format. What is the adjusted balance? Beg. Bal. Bal. per Books Bal. per Bank Stmt. Erikson Inc. had the following information for the month ended October 31, 2023: The balance per the company's general leder at 10/31 was $75,000 The balance per the bank statement as of 10/31 was $69,000 Deposits sent to the bank but not yet processed totaled $15,000. Checks issued but not yet cleared the bank totaled $12,000. The bank charged Erikson inc. a $100 fee for general business fees. The bank credited Erikson Inc. $300 in interest earned on their checking account. A customer's check for $2,300 was returned as an NSF check The accounting clerk at Erikson's erroroneously recorded a $5,400 check as $4,500 in the general ledger. Prepare a Bank Reconcilation in proper format. What is the adjusted balance? Beg. Bal. Bal. per Books Bal. per Bank Stmt. Fill in the blank with the correct answer 3. 4. Amounts yet to be received from customers for goods and services that have been provided by the entity on credit are called. Inventory is recorded on the balance sheet at the lower of 5. Examples of would be bank reconciliations, security cameras, passwords, and dual signatures. 6 HTM, AFS, and Trading are examples of 7. Accounts receivable are reported on the balance sheet at 8. Assets prepaid for in advance of the expense being used up are called_ ACCT 223 1) * Anderson Corporation had the following information for the month ended September 30, 2023: The balance per the company's general leder at 9/30 was $100,000. The balance per the bank statement as of 9/30 was $95,000. Deposits sent to the bank after hours totaled $5,000. * Checks issued but not yet cleared the bank totaled $1,000. * * 2) * * * * The bank charged Anderson Corp. a $50 fee for administrative expenses. The bank credited Anderson Corp. $150 in interest earned on their checking account. A customer's check for $100 was returned as an NSF check. A deposit for $3,000 was made but mistakenly recorded by the bank as $2,000. Prepare a Bank Reconcilation in proper format. What is the adjusted balance? Beg. Bal. Bal. per Books Bal. per Bank Stmt. Erikson Inc. had the following information for the month ended October 31, 2023: The balance per the company's general leder at 10/31 was $75,000 The balance per the bank statement as of 10/31 was $69,000 Deposits sent to the bank but not yet processed totaled $15,000. Checks issued but not yet cleared the bank totaled $12,000. The bank charged Erikson inc. a $100 fee for general business fees. The bank credited Erikson Inc. $300 in interest earned on their checking account. A customer's check for $2,300 was returned as an NSF check The accounting clerk at Erikson's erroroneously recorded a $5,400 check as $4,500 in the general ledger. Prepare a Bank Reconcilation in proper format. What is the adjusted balance? Beg. Bal. Bal. per Books Bal. per Bank Stmt. Fill in the blank with the correct answer 3. 4. Amounts yet to be received from customers for goods and services that have been provided by the entity on credit are called. Inventory is recorded on the balance sheet at the lower of 5. Examples of would be bank reconciliations, security cameras, passwords, and dual signatures. 6 HTM, AFS, and Trading are examples of 7. Accounts receivable are reported on the balance sheet at 8. Assets prepaid for in advance of the expense being used up are called_
Expert Answer:
Related Book For
Intermediate Accounting
ISBN: 978-0470161012
9th Canadian Edition, Volume 2
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.
Posted Date:
Students also viewed these accounting questions
-
5. A population is known to be normally distributed with a mean u = 11.4 and a variance =3. If a random sample of size 16 is taken, find the probability that this sample will: a) have a sample mean...
-
The Bigfork Company is a retail company that began operations on January 1,2018. The Bigfork Company is authorized to issue 1,000,000 shares of P10 par value ordinary share and 500,000 shares of 3%,...
-
Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7200 copies. The cost of one copy of the book is $14.50....
-
On June 1, 2015, the City of Cape May authorized the construction of a police station at an expected cost of $250,000. Financing will be provided through transfers from a Special Revenue Fund. The...
-
In the trial of State of Arizona vs. Wayne James Nelson, the defendant was accused of issuing checks to a vendor that did not really exist. The amounts of the checks are listed below in order by row....
-
If you were trying to examine this issue, how would you proceed? Any suggestions for me to take next steps? same. Is that what happened? You normally wouldnt borrow money from the company, would you?
-
Your systems analysis team is close to completing a system for Meecham Feeds. Roger is quite confident that the programs that he has written for Meechams inventory system will perform as necessary,...
-
Consider the arithmetic series 7+13+19+25+31+37+43 +...and answer thequestions which follow. a) (i) T. (ii) Express Tin terms of S (2) (2) b) (i) T =........... ... S =... (2) (ii) Express T2 in...
-
Write a python program that reads a string S containing integers and prints the maximum number of toys Robert has to buy for Charlie . . Input : 5 1 2 2 4 5 1 2 2 4 Output : 3 3
-
a description of your new makeup store business addressing the inventory, furniture, customer service, design layout, and sensory marketing
-
In what ways does globalization challenge traditional notions of sovereignty and state-centric governance, as transnational actors and institutions exert increasing influence over policymaking and...
-
AT LEAST 350 words You have been hired as a consultant to Marconi to assist them in planning the execution of their Latin American strategy. They want you to help them answer the following question:...
-
How do theories of social order and social change elucidate the mechanisms through which societies establish and negotiate stability, coherence, and continuity, while also adapting to evolving...
-
Describe industry analysis, competitor analysis, customer analysis and company analysis of winners sore?
-
Designing an effective long-term intervention to strengthen needs, emotions, and cognitions, which will positively impact a real life goal. For this signature assessment you will take all that youve...
-
Comptech Ltd is a manufacturer of optical equipment. In September 2019, Ed Thompson the Chief Research Officer, attended a conference in Switzerland that focused on optical developments for the 21st...
-
Many business organizations have been concerned with providing for employee retirement since the late 1800s. During recent decades, a marked increase in this concern has resulted in the establishment...
-
On June 1, 2010, Mohawk Corp. and Shortreed Limited merged to form Livingston Inc. A total of 800,000 shares were issued to complete the merger. The new corporation uses the calendar year as its...
-
Refer to the data for Upland Limited in BE13-3. Assuming that Upland uses reversing entries, prepare the 2012 journal entry(ies). IN BE Upland Limited borrowed $40,000 on November 1, 2011, by signing...
-
Personalized medicine may be used a. to characterize types of tumors. b. to predict the outcome of certain types of cancers. c. to determine the proper dosage of drugs. d. in all of the above.
-
Tumor-suppressor genes promote cancer when a. they are overexpressed. b. they are expressed in the wrong cell type. c. their function is inactivated. d. they are expressed at the wrong stage of...
-
A mutant gene that promotes cancer when it is overexpressed is called a. a tumor-suppressor gene. b. an oncogene. c. both a and b. d. neither a nor b.
Study smarter with the SolutionInn App