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
DaniilM [7]
3 years ago
6

Nolan Company's cash account shows a $29,193 debit balance and its bank statement shows $28,152 on deposit at the close of busin

ess on June 30. Outstanding checks as of June 30 total $2,801. The June 30 bank statement lists $32 in bank service charges; the company has not yet recorded the cost of these services. In reviewing the bank statement, a $80 check written by the company was mistakenly recorded in the company’s books as $89. June 30 cash receipts of $3,853 were placed in the bank’s night depository after banking hours and were not recorded on the June 30 bank statement. The bank statement included a $34 credit for interest earned on the company’s cash in the bank. The company has not yet recorded interest earned. Prepare a bank reconciliation using the above information.
Business
1 answer:
n200080 [17]3 years ago
6 0

Answer:

Explanation:

Bank reconciliation is practice of reconciling the bank account balance in a company's book to the balance reported by the bank i order to discover and correct any discrepancy

<u>Workings</u>

<u>Bank reconciliation for Nolan  for the month of June</u>

Bank statement balance                                28,152  

Add bank deposit              3,853                    3853

                                                                        32,005

Less outstanding check   (2801)                      (2801)

                                                                         29,204

Cash book balance                                         29,193

Add back error in check (89-80)      9

Interest Earned                                 34                 43

                                                                          29,236

Less bank charges                           32                (32)

                                                                          29,204

You might be interested in
Emily receives $800 every two weeks. However, she only takes home $600 after tax deductions from her paycheck. The $800 is Emily
Elena L [17]
200$ Goes towards insurance and taxes right?
7 0
3 years ago
Read 2 more answers
Write short notes by Napier bone ​
sergey [27]

Answer:

Napier's bones is a manually-operated calculating device created by John Napier of Merchiston, Scotland for the calculation of products and quotients of numbers. The method was based on lattice multiplication, and also called 'rabdology', a word invented by Napier. Napier published his version in 1617.

3 0
3 years ago
Different bosses have the authority to run their own departments in
vovikov84 [41]
Decentralization organization? I think that is the answer.
3 0
3 years ago
Read 2 more answers
The City of West Hutchison is constructing a new road, which it estimates will cost $7.2 million. The city will finance the road
Mice21 [21]

Answer:

1.

Budgetary fund balance reserved for encumbrances (DR)  $7,200,000

Encumbrances-Capital Project (CR)  $7,200,000

2.

Cash (DR)  $1,200,000

Government Grant (CR)  $1,200,000

3.

Cash (DR)  $6,000,000

Bonds Payable (CR)  $6,000,000

Explanation:

1. The Budgetary entry for encumbrance is given as follows :  

Budgetary fund balance reserved for encumbrances (DR)  $7,200,000

Encumbrances-Capital Project (CR)  $7,200,000

2. The government grant received will be recorded as :

Cash (DR)  $1,200,000

Government Grant (CR)  $1,200,000

3. The Issuance of Bonds needs to be recorded in the journal ledger as :

Cash (DR)  $6,000,000

Bonds Payable (CR)  $6,000,000

6 0
3 years ago
Downtown Coffee Roasters is a premium cafe that is reputed for its superior customer service. The coffee shop also serves gourme
77julia77 [94]

Answer:

D.  C

Explanation:

As Downtown Coffee Roasters is a premium cafe which is reputed for its superior customer service. The coffee shop also serves gourmet food to its customers, which allows it to charge a premium price. Whereas, Budget Beans is a chain of coffee shops that charges the lowest price in the industry due to its self-service policy. However, Perky's Coffee Inc. has found a balance between these two strategic groups by using automated ordering to free up its employees to work as master baristas and bakers, thus focusing on creating excellent products. It charges a price slightly above that of Budget Beans. In this scenario, Perky's Coffee is following a  blue ocean strategy. In blue ocean strategy, organizations pursuit differentiation and low cost at the same time simultaneously which Perky's Coffee Inc. is doing here in this case. Perky's has created a totally new demand by following this strategy quite successfully and has made the competition totally and almost irrelevant.

8 0
3 years ago
Other questions:
  • True or False: If you have a Florida Learner's Driver License, you can legally operate any two or three wheel motor vehicle on F
    11·2 answers
  • What is a career fair?
    13·1 answer
  • Which four ethical norms are often used by companies to help individuals make ethical decisions
    10·2 answers
  • Pollachek Co. purchased land as a factory site for $430000. The process of tearing down two old buildings on the site and constr
    8·1 answer
  • For the cash flow series below, calculate the external rate of return, using the return on invested capital approach with an inv
    15·1 answer
  • 5. Firm Q is about to engage in a transaction with the following cash flows over a three-year period: Year 0 Year 1 Year 2 Reven
    7·1 answer
  • Simply stated, the manner in which you and other employees treat your customers and each other as you deliver your company's pro
    10·1 answer
  • ABC Mart received a $20 freight bill for merchandise it purchased with freight terms of FOB shipping point. ABC Mart uses a perp
    12·1 answer
  • a firm installs 1500 air conditioners which need to be serviced every six months. the firm can hire a team from its logistics de
    5·1 answer
  • An organization based within the eu wants to avoid many of the strict guidelines regarding the protection of data subjects. As t
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!