Answer:
Bank reconciliation for Candace Co. for May 31
Amount in $ Amount in $
Balance per Bank statement 2,936
Less;
Outstanding checks (465)
Add;
Deposits in transit 655
Bank charge 50
Erroneous check to supplier <u> 18</u> <u> 723</u>
Balance per cash account <u>3,194 </u>
Explanation:
The bank reconciliation is one done between the balance per the books and balance per the bank statement. This is usually as a result of transactions known as reconciling items.
These are items that have either been recognized in books but yet to be recorded by the bank or vice versa, transactions recorded wrongly by one of the parties etc.
The outstanding checks has been deducted from the cash book hence it will be deducted from the bank statement balance in the reconciliation statement.
The bank charges is yet to be recorded in the cash books as a deduction hence it will be added back to the bank statement balance in the reconciliation statement.
The bank deposit has been recorded as an inflow in the cash balance hence it will be added to the bank balance in the reconciliation statement.
The erroneous check amount difference
= $97 - $79
= $18
This will be added to the banks balance as it has been underdeducted in the cash balance in the reconciliation statement.
Answer:
D.A large number of accounts receivable are in disputeExplanation:
Answer:
The Journal entries are as follows:
(i) 1st November, 2017
Cash A/c Dr. $58,800
Discount on notes payable A/c Dr. $1,110
To Notes payable $59,910
(To record the borrowings through notes)
(ii) 31st December, 2017
Interest expense A/c Dr. $740
To Discount on notes payable $740
(To record the adjusting entry for the interest through discount)
Workings:
Interest expense = (1,110 ÷ 3 months) × 2 months
= $740
(iii) 1st February, 2018
Interest expense A/c Dr. $370
To Discount on notes payable $370
(To record the adjusting entry for the interest through discount)
Workings:
Interest expense = (1,110 ÷ 3 months) × 1 months
= $370
(iv) 1st February, 2018
Interest payable A/c Dr. $59,910
To cash A/c $59,910
(To record the repayment of notes payable)
The correct option is b) 1.5-4. The best estimate for personal distance in Western cultures is around 1.5 to 4 feet.
<h3>What is meant by personal distance?</h3>
The term personal distance is often used to describe the physical space distance between communicating parties in western cultures. For example, when people are talking in a group setting or in a one-on-one setting, the physical distance between them that is viewed as appropriate makes up for the personal distance range.
You can learn more about personal distance from a related question here https://brainly.in/question/5605173
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