Question: The Cash account of First on Alert Security Systems reported
The Cash account of First on Alert Security Systems reported a balance of $ 2,470 at December 31, 2015. There were outstanding checks totaling $ 700 and a December 31 deposit in transit of $ 100. The bank statement, which came from Park Cities Bank, listed the December 31 balance of $ 3,700. Included in the bank balance was a collection of $ 640 on account from Brendan Ballou, a First on Alert customer who pays the bank directly. The bank statement also shows a $ 30 service charge and $ 20 of interest revenue that First on Alert earned on its bank balance. Prepare First on Alert’s bank reconciliation at December 31.
Answer to relevant QuestionsReview your results from preparing First on Alert Security Systems’ bank reconciliation in Short Exercise. Journalize the company’s transactions that arise from the bank reconciliation. Include an explanation with each ...Karen’s Dance Studio created a $ 370 imprest petty cash fund. During the month, the fund custodian authorized and signed petty cash tickets as follows:Requirement 1. Make the general journal entry to create the petty cash ...Suppose that on June 1, Rockin’ Gyrations, a disc jockey service, creates a petty cash fund with an imprest balance of $ 500. During June, Michael Martell, fund custodian, signs the following petty cash tickets:On June ...This problem continues the Davis Consulting situation from Problem. Davis’s March Cash T-account from its general ledger is as follows:Davis’s bank statement dated March 31, 2015, follows:Requirements 1. Prepare the ...List the four budgeting objectives.
Post your question