Grant Company gathered the following reconciling information in preparing its July bank reconciliation: Cash balance per...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Grant Company gathered the following reconciling information in preparing its July bank reconciliation: Cash balance per books, 7/31........... .$4,500 Deposits-in-transit......... $ 150 Notes receivable and interest collected by bank..$ 850 Bank charge for check printing.........…..... Outstanding checks........... .$ 20 .$2,000 NSF check.......... .$ 170 The adjusted cash balance per books on July 31 is a. $5,160 b. $5,010 c. $3,310 d. $3,460 Grant Company gathered the following reconciling information in preparing its July bank reconciliation: Cash balance per books, 7/31........... .$4,500 Deposits-in-transit......... $ 150 Notes receivable and interest collected by bank..$ 850 Bank charge for check printing.........…..... Outstanding checks........... .$ 20 .$2,000 NSF check.......... .$ 170 The adjusted cash balance per books on July 31 is a. $5,160 b. $5,010 c. $3,310 d. $3,460
Expert Answer:
Related Book For
Financial Management for Decision Makers
ISBN: 978-0138011604
2nd Canadian edition
Authors: Peter Atrill, Paul Hurley
Posted Date:
Students also viewed these accounting questions
-
A manufacturing company is considering acquiring a new injection-molding machine at I cost of $120,000. Because of a rapid change in product mix, the need for this particular machine is expected to...
-
The Charleston Textile Company is considering acquiring a new knitting machine at a cost of $200,000. Because of a rapid change in fashion styles, the need for this particular machine is expected to...
-
The B.C. Port Authority is considering acquiring a new ferry at a cost of $122 million. Equal payments are to be made annually over 40 years and the implied interest rate is 5%. Required: (a)...
-
The City of Amarillo is authorized to issue $8,000,000, 3 percent regular serial bonds in 2017 for the construction of a new exit off the interstate highway within city limits. The bonds mature in...
-
Martin Driving School's 2009 balance sheet showed net fixed assets of $4.7 million, and the 2010 balance sheet showed net fixed assets of $5.3 million. The company's 2010 income statement showed a...
-
Using the data in Exercise 2: a. Find the first and third quartiles of the profit. b. Find the median profit. c. Find the upper and lower outlier boundaries. d. Are there any outliers? If so, list...
-
Conventional financial accounting suggests that environmental permits should be measured by using the historical cost principle. One alternative is that current market prices should be used instead....
-
Speedy Wheels is a wholesale distributor of bicycles. Its Inventory Manager, Ricky Sapolo, is currently reviewing the inventory policy for one popular model that is selling at the rate of 500 per...
-
4. Assume that G and T are exogenous, and C is determined by the standard. consumption function, but that investment is now endogenous and responds to income: I = b + bY. Assume c + b < 1. (a)...
-
What would be the pH of the solution obtained by mixing 5 gram of acetic acid and 7.5 gram of Sodium acetate and making the volume equal to 500 mL. Dissociation constant of acetic acid at 25C is 1.75...
-
Road Builders Ltd. was the successful bidder for a contract with a provincial government to construct a 23- kilometre highway by-pass of a large city. As a part of its preparation for the contract...
-
Corrupted by their power, the judges running the popular game show America's Next Top Mathematician have been taking bribes from many of the contestants. Each episode, a given contestant is either...
-
For many organizations, a major problem is cultural blindness. In organizations you know, what factors cause managers to remain blind to the impact of cultural diversity?
-
A tunnel through a mountain is being considered as a replacement for an existing stretch of highway in southern Mindanao. The existing road is a steep, narrow, winding two-lane highway that has been...
-
Question 2 1.0 m, 0 1 0 1.0 m q q Two 4.00 g positive point charges on 1.0-m-long threads repel each other after being equally charged and are held at an angle = 21.0. What is the charge q? Answer:
-
Suppose there is a uniformly charged, infinitely tall metal surface. The surface charge density is -4.0 x 10^-10 C/m2. An electron is 1.5 meters away from the wall and is launched directly at it with...
-
Research an article from an online source, such as The Economist, Wall Street Journal, Journal of Economic Perspectives, American Journal of Agricultural Economics, or another academic journal. The...
-
Lee Caterers Ltd. is about to make an investment in new kitchen equipment. It is considering whether to replace the existing kitchen equipment with cook/freeze or cook/chill technology. The following...
-
Prairie Computers Limited (PCL) has three projects it could implement with the following cost and NPV profiles. However, PCL has only $1 million available to spend on capital projects. Define capital...
-
You are looking at changing the credit policy on credit sales from n60 to either n30 or n45. If the collection period is decreased, you can expect decreases in average accounts receivable, the...
-
Describe the operation and characteristics of the ideal summing amplifier.
-
Describe the voltage follower. What are the advantages of using this circuit.
-
Describe the operation and characteristics of the ideal noninverting amplifier.
Study smarter with the SolutionInn App