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uranmaximum [27]
3 years ago
7

Del gato clinic deposits all cash receipts on the day when they are received and it makes all cash payments by check. at the clo

se of business on june 30, 2015, its cash account shows a(n) $16,124 debit balance. del gato clinic’s june 30 bank statement shows $16,206 on deposit in the bank. a. outstanding checks as of june 30 total $3,091.b. the june 30 bank statement included a $45 debit memorandum for bank services. c. check no. 919, listed with the canceled checks, was correctly drawn for $689 in payment of a utility bill on june 15. del gato clinic mistakenly recorded it with a debit to utilities expense and a credit to cash in the amount of $698.d. the june 30 cash receipts of $2,973 were placed in the bank’s night depository after banking hours and were not recorded on the june 30 bank statement. prepare a bank reconciliation for del gato clinic using the above information:________.
Business
1 answer:
inna [77]3 years ago
3 0

Answer:

bank reconciliation:

bank balance $16,206

+ outstanding deposits $2,973

- outstanding checks ($3,091)

<u>- NSF checks ($0)                     </u>

adjusted bank balance $16,088

book reconciliation:

cash account balance $16,124

- bank fees ($45)

<u>+ error on check $698 - $689 = $9</u>

adjusted cash account balance $16,088

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Answer:

Explanation:

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The producer surplus is the difference between the minimum price that a producer is willing to accept and the price it actually gets. It can be found by calculating the area between the supply curve and the market price.

The producer surplus

= \frac{1}{2}\ \times\ base\ \times\ height

= \frac{1}{2}\ \times\ quantity\ \times\ price

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Because of strong demand this year, the equilibrium price and the quantity of good X are $12 and 7 million pounds, respectively.

The producer surplus

= \frac{1}{2}\ \times\ base\ \times\ height

= \frac{1}{2}\ \times\ quantity\ \times\ price

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3 years ago
Why is money management important? How would you rate your own money management?
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FromTheMoon [43]

Answer: Please find answers in explanation column.

Explanation:

a. Journal to record The issuance of the bond

Date Account Titles  Debit              Credit  

Jan. 1 Cash               $618,000  

    9%  Bonds payable                             $600,000  

      Premium on Bonds payable             $18,000

Calculation

Cash = 600,000 x 103% =$618,000

   

b. The accrual of interest and the premium amortization on December 31, 2020

Date Account Titles     Debit             Credit  

Dec. 31 Interest expense    $53,100  

Premium on Bonds payable     $900  

       Interest payable                             $54,000

Calculation

Interest = 600,000 x 9% = $54,000

Premium on bonds = 18,000 /20 = $900

Interest expense=$54,000- $900=$53,100

c.Journal to record  The payment of interest on January 1, 2021.     Date Account Titles           Debit       Credit  

Jan. 1 Interest payable        54000  

                    Cash                                     54000  

d) Journal to record The redemption of the bonds at maturity, assuming interest for the last interest period has been paid and recorded.  

Date Account Titles and Explanation Debit      Credit  

Jan. 1, 2 Bonds payable                      $600,000  

       Cash                                                            $600,000

5 0
3 years ago
Perez Corporation’s computer services department assists two operating departments in using the company’s information system eff
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Answer:

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3 years ago
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