The cash account for american medical co. at april 30 indicated a balance of $89,775. the bank statement indicated a balance of $125,160 on april 30. comparing the bank statement and the accompanying canceled checks and memos with the records revealed the following reconciling items: a. checks outstanding totaled $31,540. b. a deposit of $18,000, representing receipts of april 30, had been made too late to appear on the bank statement. c. the bank collected $24,075 on a $22,500 note, including interest of $1,575. d. a check for $1,700 returned with the statement had been incorrectly recorded by american medical co. as $170. the check was for the payment of an obligation to targhee supply co. for a purchase on account. e. a check drawn for $290 had been erroneously charged by the bank as $920. f. bank service charges for april amounted to $70. instructions 1. prepare a bank reconciliation. refer to the amount descriptions list provided for the exact wording of the answer choices for tex
Answers: 1
Other questions on the subject: Business
Business, 22.06.2019 12:40, notorius315
Evan company reports net income of $232,000 each year and declares an annual cash dividend of $100,000. the company holds net assets of $2,130,000 on january 1, 2017. on that date, shalina purchases 40 percent of evan's outstanding common stock for $1,066,000, which gives it the ability to significantly influence evan. at the purchase date, the excess of shalina’s cost over its proportionate share of evan’s book value was assigned to goodwill. on december 31, 2019, what is the investment in evan company balance (equity method) in shalina’s financial records?
Answers: 2
Business, 22.06.2019 19:30, mfkinnatz
Dollar shave club is an ecommerce start-up that delivers razors to its subscribers by mail. by doing this, dollar shave club is using a(n) to disrupt an existing market. a. innovation ecosystem b. architectural innovation c. business model innovation d. incremental innovation
Answers: 2
Business, 22.06.2019 19:40, izzyisawesome5232
The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.
Answers: 3
Business, 22.06.2019 20:30, andrejr0330jr
Exercise 7-7 martinez company reports the following financial information before adjustments. dr. cr. accounts receivable $168,900 allowance for doubtful accounts $3,200 sales revenue (all on credit) 849,300 sales returns and allowances 50,440 prepare the journal entry to record bad debt expense assuming martinez company estimates bad debts at (a) 4% of accounts receivable and (b) 4% of accounts receivable but allowance for doubtful accounts had a $1,550 debit balance. (if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when the amount is entered. do not indent manually.)
Answers: 3
Do you know the correct answer?
The cash account for american medical co. at april 30 indicated a balance of $89,775. the bank state...
Questions in other subjects:
Mathematics, 13.12.2019 00:31
Health, 13.12.2019 00:31
