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GaryK [48]
3 years ago
12

If the month-end bank statement shows a balance of $54,000, outstanding checks are $15,000, a deposit of $6,000 was in transit a

t month end, and a check for $900 was erroneously charged by the bank against the account, the correct balance in the bank account at month end is:
Business
1 answer:
Karo-lina-s [1.5K]3 years ago
6 0

Answer:

The answer is $45,900

Explanation:

A bank reconciliation is the process of reconciling the balances in an entity's accounting records for a cash book account to the balance on the bank statement.

Balance as per bank --------$54,000

Add:

Deposit in transit--------------- $6,000

Error charged-----------------------$900

Subtract:

Outstanding checks are----$15,000

Correct balance----------------$45,900

Therefore, the correct balance in the bank account at month end is $45,900

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Answer:

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3 years ago
A chef who is responsible for preparation of salads, cold appetizers, and pâtés is called a
vampirchik [111]

Correct answer is C, Pantry Chef.

The area where salads, cold appetizers, pates, canapes, terrines, etc are made is called Pantry. And the person who is in charge of this area is called the Pantry Chef.

A pantry chef is responsible for the making of the above mentioned food in the pantry area.

3 0
3 years ago
Kirk Enterprises offers rug cleaning services to business clients. Below is the adjustments data for the year ended July 31.Adju
andreev551 [17]

Question Completion:

KIRK Enterprises

Trial Balance as of July 31:

Account Titles                   Debit        Credit

Cash                         36,000

Prepaid Insurance          12,000

Fees Receivable                            56,000

Supplies                         12,000

Equipment                60,000

Accumulated Depreciation               12,000

Unearned Revenue                         20,000

Accounts Payable                            32,000  

Common Stock                               84,000

Dividends                         4,000

Service Revenue                            80,000

Advertising Expense    28,000

Wage Expense             20,000      

Totals                          228,000   228,000

Required:

Using this information along with the spreadsheet below, record the adjusting entries in proper general journal form.

Answer:

Kirk Enterprises

                                        Unadjusted           Adjustments           Adjusted

                                       Trial Balance                                      Trial Balance

Account Titles               Debit     Credit    Debit   Credit       Debit       Credit

Cash                       36,000                                               36,000

Prepaid Insurance        12,000                             3,000          9,000

Fees Receivable       56,000                                              56,000

Supplies                       12,000                             4,000          8,000

Equipment              60,000                                              60,000

Accumulated Depreciation       12,000                1,000                        13,000

Unearned Revenue                  20,000     15,000                                 5,000

Accounts Payable                     32,000                                                32,000

Wages Payable                                                    2,000                         2,000

Common Stock                        84,000                                                 84,000

Dividends                       4,000                                               4,000

Service Revenue                     80,000              15,000                       95,000

Advertising Expense  28,000                                             28,000

Wage Expense           20,000                   2,000                22,000

Insurance Expense                                    3,000                  3,000

Supplies Expense                                      4,000                  4,000

Depreciation Expense                               1,000                   1,000      

Totals                       228,000 228,000 25,000 25,000 231,000  231,000

Explanation:

a) Adjustments:

Depreciation expense $1,000 Accumulated Depreciation $1,000

Wages expense $2,000 Wages payable $2,000

Supplies expense $4,000 Supplies $4,000 ($12,000 - $8,000)

Unearned revenue $15,000 Service Revenue $15,000 ($20,000 * 75%)

Insurance expense $3,000 Prepaid Insurance $3,000 ($12,000 - 9,000)

5 0
2 years ago
When preparing financial statements in a job-order costing system, finished goods flow first to the.
Rom4ik [11]

Answer:

balance sheet

Explanation:

then to the income statement

quizlet

6 0
2 years ago
Beck Corp. issued 200,000 shares of common stock when it began operations in Year 1 and issued an additional 100,000 shares in Y
Verizon [17]

Answer:

225,000 shares of Beck’s common stock were outstanding

Explanation:

The computation of the outstanding common stock shares is given below:

= Issue of shares + Additional shares - Treasury stock

= 200,000 shares + 100,000 shares - 75,000 shares

= 225,000 shares

The treasury stock decreases the balance of common stock shares so we deduct it. The convertible preferred stock is not a part of outstanding common stock shares so it is not considered in the computation part.

7 0
3 years ago
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