Answer:-
$3,731
Explanation:
The computation of the adjusted cash balance is shown below:
= Unadjusted book balance + Note collected for Larimore by bank - Bank service charges - correctly amount recorded - NSF checks
= $3,299 + $550 - $27 - $9 - $82
= $3,731
The correctly amount would be
= $98 - $89
= $9
All other transactions are related to the bank balance. So, we do not consider it
Why are you starting a zoom here? I confused
Answer:
True
Explanation:
As at the time factory rent was paid by Pepperdine company, it did notaffect toatal assets as the factory is an asset of he company as it is rented. I also doesn't affect the net income since the rent is going to included in capital for the company.
Cheers.
Answer:
Revised balance = $8000
Explanation:
Milo Company uses the percent-of-sales method to estimate uncollectibles. Net credit sales for the current year amount to $ 150 comma 000, and management estimates 4% will be uncollectible.
Milo Company's balance of Allowance for Uncollectible Accounts after adjustments, was $ 5 comma 000.
The following year, Milo Company wrote off $ 3 comma 000 of old receivables as uncollectible.
The Allowance account balance now will be:
Amount of Uncollectible Accounts for the year = 4% x $150,000 = $6000
Previous balance is $5,000 less amount written off $3000 = $2000
Revised balance = $6,000 + $2000 which is $8000
taking money from something or someone but you have to pay it back