The following information relates to Carla Vista Limited's Cash account. The reconciled cash balance from June's...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The following information relates to Carla Vista Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $20,800. During the month of July, Carla Vista recorded cash receipts of $23,360 and cash payments of $15,370 in the general ledger Cash account. At July 31, Carla Vista Limited had an reconciled cash balance of $28,790. An examination of the company's July bank statement shows a balance of $19,569 on July 31; outstanding cheques $3,939; deposits in transit $1,759; EFT collections on account that were not yet recorded on the books $2,188; NSF cheque $1,252; NSF fee $68; and bank service charges $108. Prepare the necessary journal entries required on July 31 for Carla Vista. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) The following information relates to Carla Vista Limited's Cash account. The reconciled cash balance from June's bank reconciliation is $20,800. During the month of July, Carla Vista recorded cash receipts of $23,360 and cash payments of $15,370 in the general ledger Cash account. At July 31, Carla Vista Limited had an reconciled cash balance of $28,790. An examination of the company's July bank statement shows a balance of $19,569 on July 31; outstanding cheques $3,939; deposits in transit $1,759; EFT collections on account that were not yet recorded on the books $2,188; NSF cheque $1,252; NSF fee $68; and bank service charges $108. Prepare the necessary journal entries required on July 31 for Carla Vista. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.)
Expert Answer:
Answer rating: 100% (QA)
To prepare the necessary journal entries on July 31 for Carla Vista Limited we need to account for the items mentioned in the information Lets go thro... View the full answer
Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-1118644942
6th Canadian edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso, Barbara Trenholm, Wayne Irvine
Posted Date:
Students also viewed these accounting questions
-
State which of the following statements are TRUE? A. The air conditioning duct should have high aspect ratio for good performance B. If the air conditioning duct is diverging, then the angle of...
-
Horan Industries purchased a parcel of land next to their existing plant for $700,000, in order to expand operations. The seller was reluctant to sell initially so to persuade them, Horan offered a...
-
Two dominant genes determine black colouring of teeth; one of them is located in an autosome (A and a), and the other in X-chromosome (X and X). A daughter and a son with normal teeth colour were...
-
Which of the following is not an element of the fraud triangle? (a) Rationalization. (b) Financial pressure. (c) Segregation of duties. (d) Opportunity.
-
A 1-in.-diam, 6-in.-long transite rod (k = 0.56 Btu/(hr ft ?F), = 100 lb/cu ft, c = 0.20 Btu/(lb ?F) on the end of a 1-in.-diam wood rod at a uniform temperature of 212?F is suddenly placed into a...
-
1. What are some visible aspects of Recycline's culture that reflect the company's values and commitment to green issues? 2. What role do leaders play in shaping Recycline's organizational culture?...
-
CGI Federal, Inc., is a corporation that provides a number of services to the United States Passport Agency, included the processing of passport application. Passport applicants must submit sensitive...
-
Erickson Company sponsors a defined benefit pension plan. The corporation??s actuary provides the following information about the plan. Instructions(a) Compute the actual return on the plan assets in...
-
Let n and m be positive integers with n m 1. (a) (9 points) How many different m-word sentences can be constructed using an al- phabet of n letters where each of the letters appears exactly once? A...
-
FIGURE CP7.58 shows three hanging masses connected by massless strings over two massless, frictionless pulleys. (a) Find the acceleration constraint for this system. It is a single equation relating...
-
Find all parameters a (0, 4] for which the logistic family ga(x) = ax(1x) has an attracting 2-cycle. Conclude that there is in fact a period-doubling bifurcation at a = 3.
-
o What is the output of the following code? #include using namespace std; int main() { int a[10], i; for(i=0; i <10; i++) a[i] = 0; for(i = 0; i < 10; i++) if(i = == = 3) continue; else if(i == 8)...
-
A stock is expected to pay an annual dividend of $ 4 in one yearIf investors require a 1 0 % retum to buy the stock and expext dividends to grow at a 4 % annual rate how much is the stock worth today...
-
Assume the discount rate is 5 % What is the present value of an annual cash flow of 1 , 0 0 0 ? The first cash flow arrives in year 6 , and the final cash flow arrives in year 2 0 .
-
You plan to deposit $ 4 0 0 each year into an IRA earning 7 % interest annually. How much will you have in your account in 1 0 years?
-
How does the cultivation of transcendent leadership qualities elevate individuals beyond conventional paradigms, inspiring them to pursue noble aspirations and catalyze transformative change?
-
Goliath Banking Corp (GBC) offers an income investment product (IIP) for customers. The details for this product is as follows: 1. Customers pay $923.30402865101 to buy an IIP. 2. The IIP will pay...
-
A bar of length = 1 has one fixed and one free end and stiffness function c(x) = 1 - x. Find the displacement when subjected to a unit force. Pay careful attention to the boundary condition at the...
-
Imporia Container Ltd. is suffering from declining sales of its main product, non-biodegradable plastic cartons. The president, Benny Benson, instructs his controller, Yeoh Siew Hoon, to change...
-
Psang Inc. purchases its merchandise inventory on credit and uses a perpetual inventory system. The company commenced operations on January 1, 2015, and during 2015 purchased merchandise costing...
-
Financial decisions made by users often depend on one financial statement more than the others. Consider each of the following independent, hypothetical situations: 1. The South Face Inc. is...
-
A client who is a director of a publicly listed corporation is required by law to refrain from trading that companys stock at certain points of the year when disclosure of financial results are...
-
Consider the pairwise correlations of monthly returns of the following asset classes: Based solely on the information in the preceding table, which equity asset class is most sharply distinguished...
-
Investing the majority of the portfolio on a passive or low active risk basis while a minority of the assets is managed aggressively in smaller portfolios is best described as: A. The coresatellite...
Study smarter with the SolutionInn App