1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Igoryamba
3 years ago
14

Wright Company deposits all cash receipts on the day when they are received and it makes all cash payments by check. At the clos

e of business on May 31, 2017, its Cash account shows a $27,500 debit balance. The company’s May 31 bank statement shows $25,800 on deposit in the bank. The May 31 bank statement lists $100 in bank service charges; the company has not yet recorded the cost of these services. Outstanding checks as of May 31 total $5,600. May 31 cash receipts of $6,200 were placed in the bank’s night depository after banking hours and were not recorded on the May 31 bank statement. In reviewing the bank statement, a $400 check written by Smith Company was mistakenly drawn against Wright’s account. The bank statement shows a $600 NSF check from a customer; the company has not yet recorded this NSF check. Prepare a bank reconciliation for the company using the above information.
Business
1 answer:
sergey [27]3 years ago
3 0

Answer:

Please see solution below

Explanation:

Bank reconciliation as at June 31st.

•Bank statement balance  

$25,800

Add:

Bank service charges

$100

NSF check

$600

Wrong drawn

$400

Total        

$1,100

Adjusted bank balance

$26,900

Bank reconciliation as at June 31st.

•Cash book balance

$27,500

Add: outstanding checks

$5,600

Balance    

$34,100

Less: deposit in transit

($6,200)

Adjusted book balance

$26,900

You might be interested in
Hot and Cold Corp. makes disposable coffee and soft drink cups for use in fast-food restaurants, hospitals, convenience stores,
schepotkina [342]

Answer:

Star in BCG matrix

Explanation:

BCG matrix is a system that helps the organization to decide on product sales, investment, etc. In BCG matrix, the product is divided into four types: dog, cash cows, stars and question marks.  

stars - it is the type of product that makes high market share and growth. These produced large income but also require high investment

7 0
3 years ago
Test Pilot, Inc. reported a net operating loss of $25,000 for its tax year ended December 31, 2018. Test Pilot reported income o
aalyn [17]

Answer:

Net income after operating loss for 2019 is equal to $0 dollars and amount of net operating loss carried forward available in 2020 is equal to $5000.

Explanation:

Net loss is not deductible in the current year but can however be carried forward to the subsequent year and deducted against income in that year. Therefore the loss can only be deducted from 2019 on wards. The remainder of the net loss after deducting against 2019 income will be carried over into the subsequent  year and therefore $5000 is carried forward to the year 2020.

6 0
3 years ago
Read 2 more answers
Fin has been a new manager for a couple of weeks. over time, he realizes his team likes to socialize during meetings, which tend
iragen [17]

Answer:

create a relevant agenda for every meeting and stay on point by re-directing non-work related topics back to agenda items.

Explanation:

Fin is the manager, he might be new at the job but it is his responsibility to direct and control his subordinates. Managing isn't easy and maybe some of his staff will not like him directing and controlling what is said during the meetings, but it is his job. If he is not fit to do it, then he should have chosen another job or another career.

Every career and job has its own level of difficulty and things getting tough or difficult is no excuse. Just like a firefighter rushes into a burning house because it is his/her job, controlling the meeting is Fin's job.

7 0
3 years ago
What are some reasons people dont manage their money well for the future?
Pavlova-9 [17]

People can make poor investments, fail to add to their savings, and decide to spend their money rather than saving or investing.

3 0
3 years ago
If an employeeâs manager issued an explicit or strongly implied threat that submission to sexual demands is a condition of the e
Mrac [35]

If an employee manager issued an explicit or strongly implied threat that submission to sexual demands is a condition of the employee's job, it would be an example of quid pro quo" harassment.

Protect individuals from discrimination based on characteristics such as race, nationality, religion, and gender. These rights are guaranteed to all citizens under the due process and equal protection clauses of the United States Constitution and the laws of Congress.

The Civil Rights Act of 1964 outlawed discrimination in employment based on race, color, national origin, religion, or sex, and the Equal Employee's Opportunity Commission was appointed to investigate discrimination and enforce the bill's provisions. established a meeting.

Learn more about employees at

brainly.com/question/1190099

#SPJ4

3 0
2 years ago
Other questions:
  • A U.S. business buys new computers for its office workers from a U.S. computer manufacturer. The value of transaction would be i
    5·1 answer
  • Lisa has been asked to join the famous Jane Goodall Institute on a research project studying chimpanzees in Africa. Which qualif
    6·2 answers
  • You sell Apples and Banana. You are considering selling them together and separately. You have three types of buyers, Banana lov
    10·1 answer
  • According to the network model proposed by collins and quillian, common characteristics that different breeds of dogs share (e.g
    5·1 answer
  • An earthquake destroys a major manufacturing plant that produces sneakers. the manufacturing plant for rubber, a complementary g
    6·1 answer
  • On July 1, Jerome received $200 in dividends from Melina Corporation on which it owns less than 20% of the voting stock. Complet
    9·1 answer
  • 1. Increasing your 401k deduction will ________ your take-home pay and __________ your federal taxes in the current year.
    13·1 answer
  • Liastem, a company that manufactures machinery parts, required Computer Numerical Control (CNC) machines for production. The com
    15·1 answer
  • Wade Company estimates that it will produce 6,000 units of product IOA during the current month. Budgeted variable manufacturing
    6·1 answer
  • a pilot applies for life insurance. the insurer approves the application with a $10 additional monthly premium modification due
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!