The following information pertains to Ivanhoe Company. 1. Cash balance per bank, July 31, $7,482. 2....
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following information pertains to Ivanhoe Company. 1. Cash balance per bank, July 31, $7,482. 2. July bank service charge not recorded by the depositor $43. 3. Cash balance per books, July 31, $7,568. 4. Deposits in transit. July 31, $3,053. 5. $1,720 collected for Ivanhoe Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Ivanhoe Company. 6. Outstanding checks, July 31, $1,290. Journalize the adjusting entries at July 31 on the books of Ivanhoe Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 Cash July 31 (To record electronic funds transfer received by bank) Cash (To record bank service charge) 43 The following information pertains to Ivanhoe Company. 1. Cash balance per bank, July 31, $7,482. 2. July bank service charge not recorded by the depositor $43. 3. Cash balance per books, July 31, $7,568. 4. Deposits in transit. July 31, $3,053. 5. $1,720 collected for Ivanhoe Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Ivanhoe Company. 6. Outstanding checks, July 31, $1,290. Journalize the adjusting entries at July 31 on the books of Ivanhoe Company. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit July 31 Cash July 31 (To record electronic funds transfer received by bank) Cash (To record bank service charge) 43
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
Mr. Paulo Rodriguez, a fund manager of The Blackstone Group Inc. holds a portfolio with a current value of RM7.83 million. The cash index currently stands at 1,075 points. He fears that the market...
-
What are some common factors that provide opportunities for fraud?
-
What is the database model?
-
Calculate the value of Maxwell-Stefan diffusivity for ethanol water at \(40^{\circ} \mathrm{C}\) for ethanol mole fractions of \(0.0,0.2,0.3,0.4,0.7\), and 1.0 . The Fickian diffusivities are...
-
a. When a best-selling book was first released in paperback, the Hercules Bookstore chain seized a profit opportunity by setting a selling price of $9 per book (well above Hercules $5 average cost...
-
Computech Corporation is expanding rapidly and currently needs to retain all of its earnings; hence, it does not pay dividends. However, investors expect Computech to begin paying dividends,...
-
Following is partial information for the income statement of Audio Solutions Company under three different inventory costing methods, assuming the use of a periodic inventory system: Required: 1....
-
Let's learn a little more about resilience. Watch these three short clips on resilience to find out what it is, the science behind it, and how it is built....
-
Light travels at 3 * 1 0 ^ 8 meters per second. At its closest approach, the Earth is approximately 1 . 4 6 4 * 1 0 ^ 1 1 meters from the surface of the sun. How long does it take light to travel...
-
Equipment was acquired on January 1, 2025 at a cost of $168,000. The equipment was originally estimated to have a salvage value of $8,800 and an estimated life of 10 years. Depreciation has been...
-
Camp Rainbow offers overnight summer camp programs for children ages 10 to 14 every summer during June and July. Each camp session is one week and can accommodate up to 200 children. The camp is not...
-
2. AA, AAA, C and D cells all deliver the same voltage( 1.5V)when the batteries are fully charged. However,as the size of thebattery increases, the amount of current that can be deliveredbythe...
-
A company sells two different products with the following average monthly revenues and costs over the past year: Product A Sales quantity 10,000 units Price per unit $12 Contribution margin...
-
Wholesalers Ltd. deals in the sale of foodstuffs to retailers. Owing to economic depression, the firm intends to relax its credit policy to boost productivity and sales. The firms current credit...
-
Consider a latent variable modeled by \(\boldsymbol{y}_{i}^{*}=\mathbf{x}_{i}^{\prime} \boldsymbol{\beta}+\varepsilon_{i}\), with \(\varepsilon_{i} \sim \mathcal{N}[0,1]\). Suppose we observe only...
-
Consider the logit model with \(\operatorname{Pr}\left[y=1 \mid x_{1}, x_{2} ight]=\Lambda\left(\beta_{0}+\beta_{1} x_{1 i}+\beta_{2} x_{2} ight)\), where \(\Lambda(z)=e^{z} /\left(1+e^{2} ight) x\)....
-
Suppose we use an index formulation for a discrete choice model but it is felt that the latent variable is strictly positive. This is accommodated by supposing that the latent variable \(y^{*}\) has...
Study smarter with the SolutionInn App