Compare the company's general ledger to the bank statement and determine which checks are still outstanding...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Compare the company's general ledger to the bank statement and determine which checks are still outstanding (haven't cleared the bank) at the end of October. Partial Bank Statement Date 10/05 10/12 10/12 10/20 10/21 10/31 Date 10/01 10/02 10/03 10/09 10/09 10/10 10/12 10/15 10/17 10/20 10/26 10/28 10/30 10/31 Check Number 563 564 566 567 568 570 Check #563 Daily Deposit Check #564 Explanation Beginning Balance Check # 565 Check # 566 Amount Daily Deposit Check #567 Check #568 Check #569 Daily Deposit Check #570 Check #571 Daily Deposit $140 $155 $47 $323 $45 $1,200 Date 10/03 10/14 10/27 Cash General Ledger Debit 2,469 1,285 3,062 1,799 Deposit Amount $2,469 $1,285 $3,062 Credit 140 155 850 47 323 45 762 1,200 130 Balance 10,500 10,360 12,829 12,674 11,824 11,777 13,062 12,739 12,694 11,932 14,994 13,794 13,664 15,463 Compare the company's general ledger to the bank statement and determine which checks are still outstanding (haven't cleared the bank) at the end of October. Partial Bank Statement Date 10/05 10/12 10/12 10/20 10/21 10/31 Date 10/01 10/02 10/03 10/09 10/09 10/10 10/12 10/15 10/17 10/20 10/26 10/28 10/30 10/31 Check Number 563 564 566 567 568 570 Check #563 Daily Deposit Check #564 Explanation Beginning Balance Check # 565 Check # 566 Amount Daily Deposit Check #567 Check #568 Check #569 Daily Deposit Check #570 Check #571 Daily Deposit $140 $155 $47 $323 $45 $1,200 Date 10/03 10/14 10/27 Cash General Ledger Debit 2,469 1,285 3,062 1,799 Deposit Amount $2,469 $1,285 $3,062 Credit 140 155 850 47 323 45 762 1,200 130 Balance 10,500 10,360 12,829 12,674 11,824 11,777 13,062 12,739 12,694 11,932 14,994 13,794 13,664 15,463
Expert Answer:
Answer rating: 100% (QA)
To determine which checks are still outstanding havent cleared t... View the full answer
Related Book For
Financial and Managerial Accounting the basis for business decisions
ISBN: 978-1259692406
18th edition
Authors: Jan Williams, Susan Haka, Mark Bettner, Joseph Carcello
Posted Date:
Students also viewed these accounting questions
-
1. What will the annual payments be on a six-year loan of $12,500 at 13 percent interest rate? 2. You've just found the perfect home. However, in order to buy it, you'll need to take out a $15,000,...
-
Use the attached "words.txt" file to store the words along with their ranks in an AVL tree. Then provide the user the option to search for any word. If the word exists the program displays the rank...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
The rotational velocity of a spinning disk decreases from 6 rev/s to 3 rev/s in a time of 12 s. What is the rotational acceleration of the disk?
-
For the purposes of performing field-oriented control calculations on non-salient synchronous motors, write a MATLAB script that will calculate the synchronous inductance Ls and armature-to field...
-
Consider the statistical model defined by Equation (5.1) and suppose $H_{0}: \tau_{1}=\cdots=\tau_{k}=0$ is true. Show that the following are true. a. $S S_{\text {Treat }} / \sigma^{2} \sim...
-
On December 31, 2017, Brown Company issued \(\$ 750,000\) of 20 -year, eight percent bonds payable for \(\$ 621,307\), yielding an effective interest rate of ten percent. Interest is payable...
-
Treasury Stock Transactions The Stockholders Equity category of Little Joes balance sheet on January 1, 2010, appeared as follows: Common stock , $5 par, 40,000 shares issued and outstanding...
-
MMM Co., a publicly listed company reported on its Financial Position total assets of P100Million. The company maintains its debt ratio of 70% and have outstanding ordinarv shares of PIMillion as of...
-
Julie Whiteweiler made $930 this week. Only social security (fully taxable) and federal income taxes attach to her pay. Whiteweiler contributes $100 each week to her company's 401(k) plan and has $25...
-
Review the following code. State which of the functions breaks the register convention rules and what would happen if the code was run as is. How would one fix this code, this can be done by stating...
-
In each of the following situations, indicate the nature or type of non sampling risk that caused the error to occur. a. Letters were sent to accounts payable vendors for each amount recorded on the...
-
Read and compare the attestation standards and the generally accepted auditing standards, both of which are listed side by side on pages \(19-21\) in the chapter. Required: a. For the noted...
-
Nationalities of passengers on a plane. In Exercises 714, determine whether the data are qualitative or quantitative. Explain your reasoning.
-
Rank the following conditions as having the most inherent risk (as discussed in the chapter), the second most inherent risk, and so on. Give reasons for your rankings. a. The processing of charge...
-
A client who recently received a financial statement audit is somewhat confused about the meaning of the independent auditor's report. She understands that "everything is okay," but she is not...
-
Data concerning a recent period's activity in the Prep Department, the first processing department in a company that uses process costing, appear below: Equivalent units in ending work in process...
-
To help you become familiar with the accounting standards, this case is designed to take you to the FASBs Web site and have you access various publications. Access the FASBs Web site at...
-
Moon, Inc., had the following income statement figures. Sales .......................... $560,000 Cost of sales ............... (340,000) Gross margin ............... $220,000 Operating expenses...
-
The manager of a manufacturing firm received the following information related to the last periods direct materials and direct labor variances: Direct materials price variance . . . . . . . . . . . ....
-
For each of the following categories, state concisely a transaction that will have the required effect on the elements of the accounting equation. (a). Increase an asset and increase a liability....
-
Assume that a company has in its inventory units of a particular product that were purchased at several different perunit costs. When some of these units are sold, explain how the cost of goods sold...
-
Apex Corporation operates in two locations: New York and Oregon. The LIFO method is used in accounting for inventories at the New York facility and the specific identification method is used for...
-
Assume that during the first year of Hatton Corporation's operation there were numerous purchases of identical items of merchandise. However, there was no change during the year in the prices paid...
Study smarter with the SolutionInn App