Bentley company’s june 30 bank statement and june ledger account for cash are summarized below:
bank statement
checks deposits balance balance, june 1 $ 7,550
deposits during june $ 15,700 23,250
checks cleared during june $ 16,750 6,500
bank service charges 25 6,475 balance, june 30
6,475 cash (a) june 1 balance 7,550
june checks written 19,650 june deposits 19,000

required:

1. reconcile the bank account. a comparison of the checks written with the checks that have cleared the bank shows outstanding checks of $2,900. a deposit of $3,300 is in transit at the end of june.
2. prepare the journal entry that should be made as a result of the bank reconciliation.
3. what is the balance in the cash account after the reconciliation entries?
4. what is the total amount of cash that should be reported on the balance sheet at june 30?

Select the word from the list that best fits the definition sometimes

6. why the aggregate supply curve slopes upward in the short run in the short run, the quantity of output that firms supply can deviate from the natural level of output if the actual price level in the economy deviates from the expected price level. several theories explain how this might happen. for example, the misperceptions theory asserts that changes in the price level can temporarily mislead firms about what is happening to their output prices. consider a soybean farmer who expects a price level of 100 in the coming year. if the actual price level turns out to be 90, soybean prices will , and if the farmer mistakenly assumes that the price of soybeans declined relative to other prices of goods and services, she will respond by the quantity of soybeans supplied. if other producers in this economy mistake changes in the price level for changes in their relative prices, the unexpected decrease in the price level causes the quantity of output supplied to the natural level of output in the short run.

Kubin company’s relevant range of production is 18,000 to 22,000 units. when it produces and sells 20,000 units, its average costs per unit are as follows: average cost per unit direct materials $ 7.00 direct labor $ 4.00 variable manufacturing overhead $ 1.50 fixed manufacturing overhead $ 5.00 fixed selling expense $ 3.50 fixed administrative expense $ 2.50 sales commissions $ 1.00 variable administrative expense $ 0.50 required: 1. for financial accounting purposes, what is the total amount of product costs incurred to make 20,000 units? 2. for financial accounting purposes, what is the total amount of period costs incurred to sell 20,000 units? 3. for financial accounting purposes, what is the total amount of product costs incurred to make 22,000 units? 4. for financial accounting purposes, what is the total amount of period costs incurred to sell 18,000 units?