While checking the cash accounts of OnlYyou company on Dec. 31, 2006, you find the following...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
While checking the cash accounts of OnlYyou company on Dec. 31, 2006, you find the following information: Balance per books P 67,760 Balance in checking account (outstanding checks per book of 9,876) Deposit in bank closed by Era Currency and coins accounted Petty cash fund (of which 450 is in the form of paid vouchers) Bank charges not taken up in the books Bond sinking fund 65,323 16,000 9,500 1,000 58 10,000 700 Receivable from employees Book error in recording a check, the correct amount as paid by the bank Is 890 instead of 980 as recorded in the books, or a difference of a. What is the correct cash in bank balance for OnlYyou company on Dec. 31, 2006? b. What is the correct cash on hand balance for OnlYyou company on Dec. 31, 2006? 90 While checking the cash accounts of OnlYyou company on Dec. 31, 2006, you find the following information: Balance per books P 67,760 Balance in checking account (outstanding checks per book of 9,876) Deposit in bank closed by Era Currency and coins accounted Petty cash fund (of which 450 is in the form of paid vouchers) Bank charges not taken up in the books Bond sinking fund 65,323 16,000 9,500 1,000 58 10,000 700 Receivable from employees Book error in recording a check, the correct amount as paid by the bank Is 890 instead of 980 as recorded in the books, or a difference of a. What is the correct cash in bank balance for OnlYyou company on Dec. 31, 2006? b. What is the correct cash on hand balance for OnlYyou company on Dec. 31, 2006? 90
Expert Answer:
Answer rating: 100% (QA)
answer a To calculate the correct cash in bank balance for OnlYyou company on December 31 2006 we ne... View the full 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
-
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...
-
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
-
1. Evaluate whether the following statements are true or false in relation to cash and cash equivalents: I. Demand Deposits forms part as cash just like savings and time deposit. II. Stale checks...
-
Suppose in a given area there are three power plants, each of which emits SO 2 with different intensities. The abatement cost functions for each firm j are: (a) Set up the conditions for the socially...
-
When you look up at an object in air from beneath the surface in a swimming pool, does the object appear to be the same size as when you see it directly in air? Explain.
-
Identify benefits and costs for Problem 1-21.
-
Whether hearsay evidence may be admissible under a hearsay exception?
-
A machine shop has two machines, A and B. Four jobs need to be processed through machine A first and B second. Job 1 will take one hour on machine A and three hours on machine B. Job 2 will take...
-
During the most recent board meeting, you were asked to present your analysis and recommendations on the proposal for a five-year joint venture (JV) with one of the top restaurant chains in India....
-
Determine the shear force and moment acting at point C of the beam. For the calculation use Simpsons rule to evaluate the integrals. W 2 kip/ft ' W = 1/2 (2x +x + 4) 2 ft C 2 ft 11.58 kip/ft B X
-
On February 20, 2020 he purchased an office On April 8, 2020 he Brown operates a business. building to be used in his business for $900,000. purchased equipment (7- year property) to be used in his...
-
A child's ball (a thin hollow uniform sphere) of mass 34.8 g and radius 0.141 m starts from rest and rolls without slipping down an inclined plane of vertical height 6.82 m. What is the angular speed...
-
What is output to the console? function getSum(scores) { } if (!Array.isArray(scores)) { } throw new TypeError("Array error"); if (scores.length != 2) { } throw new RangeError("Length error"); return...
-
A white light point source is placed along the optical axis of a convex lens at a distance of 0 . 4 m from the lens. The refractive indices of the lens for red and blue light are 1 . 5 2 and 1 . 5 4...
-
Evaluate the role of technology in enhancing the operations and customer experience in a petro retailing business. Discuss specific technological advancements, such as smart fuel dispensers, mobile...
-
Reprogram the following iterative function with recursion. int f(int N) int count, sum = 0; for (count = 0; count < N; count++) sum sum + count; return sum;
-
Do you believe that judicial impartiality is upheld in court settings. Research and find an article or case that backs up your claim.Do you believe that judicial impartiality is upheld in court...
-
The following selected accounts and normal balances existed at year-end. Notice that expenses exceed revenue in this period. Make the four journal entries required to close the books: Accounts...
-
During 2012, William purchases the following capital assets for use in his catering business: New passenger automobile (September 30)........................$21,500 Baking equipment (June 30)...
-
Clarita is a single taxpayer with two dependent children, ages 10 and 12. Clarita pays $3,000 in qualified child care expenses during the year. If her adjusted gross income (all from wages) for the...
-
Joan is a self-employed attorney in New York City. Joan took a trip to San Diego, CA, primarily for business, to consult with a client and take a short vacation. On the trip, Joan incurred the...
-
Determine the slope at \(C\) and displacement at \(B\). \(E I\) is constant. A a W B
-
The W10 \(\times 15\) cantilever beam is made of A-36 steel and is subjected to the loading shown. Determine the slope and displacement at its end \(B\). A 3 kip/ft -6 ft -6 ft - B
-
The W14 \(\times 30\) cantilever beam is made of A-36 steel and is subjected to the loading shown. Determine the slope and displacement at its end \(B\). 2 kip/ft A 6 ft 6 ft. B 30 kip-ft
Study smarter with the SolutionInn App