Blossom company is a very profitable small business. it has not, however, given much consideration to internal control. for example, in an attempt to keep clerical and office expenses to a minimum, the company has combined the jobs of cashier and bookkeeper. as a result, bret turrin handles all cash receipts, keeps the accounting records, and prepares the monthly bank reconciliations.

the balance per the bank statement on october 31, 2022, was $18,368.00. outstanding checks were no. 62 for $140.00, no. 183 for $170.00, no. 284 for $253.00, no. 862 for $190.00, no. 863 for $226.00, and no. 864 for $165.00. included with the statement was a credit memorandum of $185.00 indicating the collection of a note receivable for blossom company by the bank on october 25. this memorandum has not been recorded by blossom.

the company’s ledger showed one cash account with a balance of $21,867.00. the balance included undeposited cash on hand. because of the lack of internal controls, bret took for personal use all of the undeposited receipts in excess of $3,795.00. he then prepared the following bank reconciliation in an effort to conceal his theft of cash.

cash balance per books, october 31$21,867.00
add: outstanding checks
no. 862$190.00
no. 863226.00
no. 864165.00481.00

22,348.00
less: undeposited receipts3,795.00
unadjusted balance per bank, october 3118,553.00
less: bank credit memorandum185.00
cash balance per bank statement, october 31$18,368.00
required:
prepare a correct bank reconciliation. (hint: deduct the amount of the theft from the adjusted balance per books.) (list items that increase balance as per bank & books first.)

Gino's restaurant is a popular restaurant in boston, massachusetts. the owner of the restaurant has been trying to better understand costs at the restaurant and has hired a student intern to conduct an activity-based costing study. the intern, in consultation with the owner, identified the following major activities: activity cost pool activity measure serving a party of diners number of parties served serving a diner number of diners served serving drinks number of drinks ordered some costs, such as the cost of cleaning the linens that cover the restaurant's tables, vary with the number of parties served. other costs, such as washing plates and glasses, depends on the number of diners served or the number of drinks served. data concerning these activities are shown below. serving a party serving a dinner serving drinks total total cost $47,600 $153,000 $59,800 $260,400 total activity 7,000 parties 30,000 diners 46,000 drinks prior to the activity-based costing study, the owner knew very little about the costs of the restaurant. she knew that the total cost for the month was $260,400 and that 30,000 diners had been served. therefore, the average cost per diner was $8.68.required: 1. compute the activity rates for each of the three activities 2. according to the activity-based costing system, what is the total cost of serving each of the following parties of diners? a. a party of four diners who ordered three drinks in total b. a party of two diners who do not order any drinks c. a lone diner who orders two drinks 3. convert the total costs you computed in part (1) above to costs per diner. in other words, what is the average cost per diner for serving each of the following parties: a. a party of four diners who order three drinks in total b. a party of two diner who do not order any drinks c. a lone diner who orders two drinks 4. why do the costs per diner for the three different parties differ from each other and from the overall average coast of $9.80 per diner?

Acompany recorded a check in its accounting records as $87. however, the check was actually written for $78 and it cleared the bank as $78. what adjustment is needed to the personal statement? a. decrease by $9 b. increase by $9 c. decrease by $18 d. increase by $9

How did the contribution of the goods producing sector to gdp growth change between 2010 and 2011 a. it fell by 0.3%. b. it fell by 2.3%. c. it rose by 2.3%. d. it rose by 0.6%. the answer is b