Correct the wrong question and explain the new answer

Return to questid AB Ltd. had $3,413 in outstanding cheques at the end of July and half of that amount in deposits in transit. Bank service charges are $145 for July and there are no other reconciling items in the July bank reconciliation. Required 1: By how much the adjusted balance shown on the balance sheet is higher or lower than the trial balance? $ |-1851.50 | @ 1 - Required 2: What is the total credits on the cash account because of the Adjusting Journal entries based on the above information? $ points 3558 @ ' g 00:55:4&:} 10 1 points I 8 oo:ss:astl PT Barnum Company uses the periodic inventory system and has the following data from its December accounting records: Sales $44,000 Sales Returns & Allowances $2,420 Freight In on Inventory Purchases $400 Delivery Expense on Sales $300 Purchase Returns & Allowances $500 Purchases $18,840 Inventory December 1 $13,726 Average gross profit percentage = 25% Because of a wildcat strike by Barnum's warehouse employees that prevents an inventory count, Barnum decides to use the \"Gross Profit Method" to estimate the December 31 Inventory for purpose of generating its monthly financials. Required 1: What is the \"Cost of Merchandise Available for Sale\" for PT Barnum? $ | 32466 | @ Required 2: What is the net cost of purchases that will be used to calculate PT Barnum net income? $ (18340 | @ Required 3: What is the amount of net sales that will be used to calculate PT Barnum net income? $ | 41580 @ Required 4: What is the Cost of Goods Sold that will be used to calculate PT Barnum net income? $ | 31185 | @ Required 5: What is the Gross Profit that will be reported in PT Barnum Income Statement? $ 110395 | @ Required 6: What is the value of Ending Inventory PT Barnum will report in the Balance Sheet of December 31st? $ | 1281 @