Business
Accounting
Using the information in M5- 8, prepare any journal entries

Using the information in M5- 8, prepare any journal entries needed to adjust the company's books. Reconciling

Question:

Using the information in M5- 8, prepare any journal entries needed to adjust the company's books.

Transcribed Image Text:

Reconciling Item Bank Statement Company's Books a. Outstanding checks of $12,000 b. Bank sevice charge of $15 c. Deposit in transit of $2.300 d. Interest earned of $5

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 66% (6 reviews)

b Office Expenses 15 Cash 15 To record ...View the full answer

Answered By

Pharashram rai

i am highly creative, resourceful and dedicated freelancer an excellent record of successful classroom presentations and writing . I have more than 4 years experience in tutoring students especially by using my note making strategies and engineering field . Especially adept at teaching methods of maths and writing , and flexible teaching style with the willingness to work beyond the call of duty. Committed to ongoing professional development and spreading the knowledge within myself to the blooming ones to make them fly with .

4.80+ 65+ Reviews 270+ Question Solved

Related Book For book-img-for-question

Fundamentals Of Financial Accounting

ISBN: 9780073527109

3rd Edition

Authors: Fred Phillips, Robert Libby, Patricia A Libby

See More Books

Question Posted: Nov 02, 2015 05:36 AM

See More Questions

Students also viewed these Accounting questions

At most movie theaters, one employee sells tickets and another employee collects them. One night, when youre at the movies, your friend comments that this is a waste of the theaters money. Required:...
Hills Companys June 30 bank statement and the June ledger account for cash are summarized here: Required: 1. Prepare a bank reconciliation. A comparison of the checks written with the checks that...
The August bank statement and cash T- account for Martha Company follow: No deposits were in transit and no checks were outstanding at the end of July. Required: 1. Identify and list the deposits in...
U Ltd has three subsidiaries (one of which is dormant) and has the following results for the year to 31 December 2020: Compute the corporation tax liability for the year and state the date (or dates)...
An observer is traveling between two identical sources of sound (frequency 100 Hz). His speed is 10.0 m/s as he approaches one and recedes from the other. (a) What frequency tone does he hear from...
The PC Works assembles custom computers from components supplied by various manufacturers. The company is very small and its assembly shop and retail sales store are housed in a single facility in a...
The probabilities that a TV station will receive $0,1,2,3, \ldots, 8$ or at least 9 complaints after showing a controversial program are, respectively,...
The Webster National Bank is reviewing its service charges and interest-paying policies on checking accounts. The average daily balance on personal checking accounts is $550, with a standard...
February 10 Activities Beginning inventory Purchase March 13 Purchase March 15 Sales August 21 Purchase September 5 Purchase September 10 Sales Totals Units Acquired at Cost 600 units @ $45 per unit...
Hatcher Enterprises uses a chemical called Rbase in production operations at five divisions. Only six suppliers of Rbase meet Hatchers quality control standards. All six suppliers can produce Rbase...
Indicate whether the following items would be added (+) or subtracted () from the companys books or the bank statement side of a bank reconciliation. Reconciling Item Bank Statement Company's Books...
Mountain Air Company established a $ 200 petty cash fund on January 1. From January 2 through 15, payments were made from the fund, as listed below. On January 17, the fund was replenished with a...
Prove that Then show that the regions under the hyperbola over the intervals [1, 2], [2, 4], [4, 8], . . . all have the same area (Figure 3). bla 1 1 L = = dx = fi = = dx te - Ja x X dx for a, b 0.
Given her investment goals and market view, and assuming all options are based on SEK/CHF, the best strategy for Bjrk to manage the funds CHF exposure would be to buy an: A. ATM call option. B. ITM...
Based on Exhibit 1, the execution cost for purchasing the 90,000 shares of BYYP is: A. $$60$,000. B. $$82$,500. C. $$127$,500. Robert Harding is a portfolio manager at ValleyRise, a hedge fund...
To rebalance the SEK/GBP hedge, and assuming all instruments are based on SEK/ GBP, Bjrk would buy: A. GBP 7,000,000 spot. B. GBP 7,000,000 forward to December 1. C. SEK 74,812,500 forward to...
What type of algorithm should be used to purchase the XYZ shares given Hardings priority in building the XYZ position and his belief about potential price movements? A. Scheduled algorithm B. Arrival...
Identify which manager is most appropriate for Parade. Justify your response. Upon choosing a manager, Lute must allocate the funds either to a separately managed account (SMA) customized for Parade...
Graph each parabola. Give the vertex, axis of symmetry, domain, and range. f(x) = x + 4x + 3
2. In the circuit given in Figure 2, i,(t) = 5.67cos(5t)A and v (t) = 70.71 cos(5t 60) V a) Find the equivalent load impedance. State whether the load is inductive or capacitive. b) Calculate the...
Assume the average cost of computer equipment fell 20.9 percent between 2012 and 2013. Let's see whether these changes are reflected in the income statement of Computer Tycoon Inc. for the year ended...
Use the information in E13-3 to complete the following requirements. Refer to E13-3, Assume the average cost of computer equipment fell 20.9 percent between 2012 and 2013. Let's see whether these...
Assume that for the 2013 fiscal year, AstroCo reported sales revenue of $2.8 billion and cost of goods sold of $1.6 billion. Required Assuming that all sales are on credit, compute the current ratio...
LaToya Limmons is the manager of the Human Resources (HR) department and Javier Jartin is the manager of the sales department for a production company headquartered in the United States but also has...
The beam AD is fixed to a rigid wall at A and is supported by props at B and C as shown in figure 1. In sections AB and BC, the flexural rigidity is EI, but in section CD the flexural rigidity is...
What is the meaning of 'framing' and how does it impact the way we negotiate? (Your own opinion)

Medical Physics During The COVID-19 Pandemic Global Perspectives In Clinical Practice, Education And Research 1st Edition - ISBN: 0367700549 - Free Book

Study smarter with the SolutionInn App