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
Deffense [45]
3 years ago
6

The following information is available to reconcile Branch Company’s book balance of cash with its bank statement cash balance a

s of July 31. On July 31, the company’s Cash account has a $25,497 debit balance, but its July bank statement shows a $26,808 cash balance. Check No. 3031 for $1,090, Check No. 3065 for $321, and Check No. 3069 for $1,858 are outstanding checks as of July 31. Check No. 3056 for July rent expense was correctly written and drawn for $1,240 but was erroneously entered in the accounting records as $1,230. The July bank statement shows the bank collected $7,000 cash on a note for Branch. Branch had not recorded this event before receiving the statement. The bank statement shows an $805 NSF check. The check had been received from a customer, Evan Shaw. Branch has not yet recorded this check as NSF. The July statement shows a $11 bank service charge. It has not yet been recorded in miscellaneous expenses because no previous notification had been received. Branch’s July 31 daily cash receipts of $8,132 were placed in the bank’s night depository on that date but do not appear on the July 31 bank statement.
Business
1 answer:
Natali5045456 [20]3 years ago
8 0

Answer:

Adjusted Balance      31,671

Explanation:

<em>CASH </em>

Balance                       25,497

Service Charge               -11

Collection in firm behalf 7,000

NSF                           -805

accounting mistake       -10

Adjusted Balance          31,671

<em>BANK </em>

Balance                   26,808

Outstanding Check   -3,269

Deposit in transit       8,132

Adjusted Balance      31,671

The goal of the reconciliation is to make up for the unknow information for each party. The bank and the firm We are goin to make jounral entries for all the infoamrition which is unknow to the firm until the bank statement is received.

You might be interested in
Which of these makes this a true statement? When determining the appropriate weights used in calculating a WACC, it should refle
rjkz [21]

Answer:

B.) The relative sizes of the total market capitalizations for each kind of security that the firm issues.

Explanation:

WACC is the weighted average cost of capital. It is used as the discount rate when evaluate projects whose risk are similar to company's risk. Calculation of WACC uses relative market values of common equity, preferred stock and debt to calculate each proportion.  Cost of equity, cost of preferred stock and aftertax cost of debt are also used. This makes choice B correct.

3 0
3 years ago
Bitstar global inc. is a soft-drink manufacturing company. kelly, the production manager, works with a human resource consultant
Ludmilka [50]
<span>machine. She uses a simulative approach to increase the effectiveness and efficiency. If Kelly is at the output stage of the process, then she is identifying the inputs utilized in the process for measuring the productivity.</span>
6 0
4 years ago
Craigmont Company's direct materials costs are $4,200,000, its direct labor costs total $8,080,000, and its factory overhead cos
USPshnik [31]

Answer:

$12,280,000.

Explanation:

All the direct costs involved in the manufacturing of a product except fixed cost is called prime cost e.g direct material, direct labor etc.

Direct Material = $4,200,000

Direct labor = $8,080,000

Total Prime cost = Direct material + Direct labor = $4,200,000 + $8,080,000 = $12,280,000

Overhead costs are not classified as the prime cost because these are indirect costs.

4 0
3 years ago
Wegmans sends deli employees to france to learn about cheese. wegmans is attempting to meet ____ needs.
Iteru [2.4K]
I would say that wedgemans is trying to meet employees needs for development of their knowledge and for in this case the privilege of going to learn about the types of cheeses and perhaps their making in another country which is an additional benefit and which will most likely encourage the employees to work more effectively and with more interest in their work.
4 0
4 years ago
A company well-known for its easy-to-cook breakfast cereals was facing stiff competition from the many players in the market. Th
MAVERICK [17]

Answer:

The answer is d) new line-extension product

Explanation:

A new line-extension product, is a variation of the original product. The company did not entirely change their product they just tweaked it; they branched out.

7 0
4 years ago
Other questions:
  • An expansion path shows
    11·1 answer
  • In the videos we watched about the sale of the Las Vegas Review Journal (LVR)), the
    11·1 answer
  • A bond currently sells for $1,050, which gives it a yield to maturity of 6%. Suppose that if the yield increases by 25 basis poi
    14·1 answer
  • The first three cars I bought all fell apart around 50,000 miles. It was called planned obsolescence and no one seemed to care u
    5·1 answer
  • You are a new project manager who has been entrusted with a project. The project has entered the Execution phase, and you as the
    13·1 answer
  • Efficiency and effectiveness (Connect, Perform)
    11·1 answer
  • If the museum employees had acted with transparency, what would they have done?
    13·1 answer
  • he fastest-growing sales trend is ________ that involves the use of online, mobile, and social media to engage customers, build
    9·1 answer
  • MB has been using proper workflow for her sales process by creating invoices, receiving payments, and recording deposits using t
    14·2 answers
  • How do you solve economic equations when they add percentages like 200% &amp; add another # with it?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!