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
vivado [14]
3 years ago
9

Graham, Inc.'s April bank statement shows an April 30 balance of $5,120. Prior to reconciliation, its books show a cash balance

of $5,510. ThIs information pertains to Graham, Inc.: Deposits in transit $800; Checks outstanding $465; Bank service charge $10; Error in Graham's records understating cash disbursement $180; Check of another company charged erroneously against Graham's bank account $115; Bank statement shows bank collected a note receivable and interest income for Graham $250. The reconciled cash balance at April 30 on the bank reconciliation should be:
Business
1 answer:
Mars2501 [29]3 years ago
4 0

Answer:

$5,570

Explanation:

The purpose of a bank reconciliation statement is to reconcile the difference between Cash Book balance and Bank Statement balance. Also it is used to check accuracy of Cash Book and the accuracy of Bank Statement.

Graham, Inc.'s April bank reconciliation statement is prepared as :

Graham, Inc.

Bank reconciliation statement as at April 30

Balance as per Bank Statement                 $5,120

Add outstanding lodgments                         $800

Add back error at the bank                            $115

Less unpresented checks                           ($465)

Balance as per Cash Book                        $5,570

therefore,

The reconciled cash balance at April 30 on the bank reconciliation should be $5,570.

You might be interested in
Multiple Choice Is an outflow of cash from the use of a plant asset. Is applied to land. Measures the decline in market value of
azamat

Answer:

Is the process of allocating to expense the cost of plant asset.

Explanation:

Depreciation is an expense indicating a decline in the value of the capital assets due to tear and wear, obsolescence, consumption, time span, etc. It's shown on the income statement debit side. It is a non-cash item which has no effect on the cash balance.

Moreover, it is to charged over the specified number of useful life so that proper amount of the depreciation should be recorded in the books of accounts

5 0
3 years ago
When housing prices ________ as they did beginning in 2006 following the housing market bubble, most banks and other lenders tig
-Dominant- [34]

Answer:

"Fell" "Harder"

Explanation:

When housing prices fell as they did beginning in 2006 following the housing market bubble, most banks and other lenders tightened the requirement for borrowers, making it harder for potential home buyers to obtain mortgages.

6 0
3 years ago
In the video, Mike Boyle talks about establishing a work environment that motivates employees to do great work. List two or thre
Alex787 [66]

Answer:

Explanation:

the list of specific ways through which Mr. MB can establish the work environment which can motivate the employee in his gym are as follows;

Mr. MB can emphasize on the importance of creating effective work environment that motivate employees to work properly.

Mr. MB can develop strength program for employees.

Mr. MB can also introduce the proper sessions of new training technique and workout program for employees.

Education helps in the employee motivational and job enrichment in an effective way. It helps the employees by giving them opportunity to establish their skills. It also helps in enhancing their knowledge and progress through their position in the company. These knowledge and skills helps the employer gaining effective workforce. Education also provides some effective guideline that the employees or employer should follow.

4 0
3 years ago
A what is when a group of companies illegally work together and essentially create a monopoly in order to increase prices and th
ser-zykov [4K]

A cartel is when a group of companies illegally work together and essentially create a monopoly in order to increase prices and their profits.

8 0
3 years ago
At december 31, 2014 rice company had 300,000 shares of common stock and 10,000 shares of 8%, $100 par value cumulative preferre
vitfil [10]

The company has declared a 100% stock dividend on its common stock will not be considered while calculating the earnings per common shares should be.

Earnings per share = Net Income / Number of equity shares.

where Net Income = $1,520,000

Common equity shares = 300,000

Earnings per share = $1,520,000 / 300,000

Earnings per share = $5.07

Therefore, earnings per common share for year 2015 for Rice Corporation is $5.07

7 0
3 years ago
Other questions:
  • Which of these statements regarding Regal Marine is TRUE? Product design is a critical decision for the firm. Regal uses a three
    10·1 answer
  • The primary purpose of protective covenants is to help:
    5·1 answer
  • A producer of electronic parts wants to take account of both production rate and demand rate in deciding on its lot sizes. A par
    12·1 answer
  • Which of these terms best fits this definition?
    13·2 answers
  • Customer satisfaction surveys will be effective when the questions included in the survey can provide actionable results.
    12·1 answer
  • An economic system that allows indivduals to pursue their own interests without undue
    7·1 answer
  • 4. The real interest rate is 3 percent, and the nominal interest rate is 5 percent. What is the anticipated rate of inflation? 1
    14·1 answer
  • Colorado Business Tools manufactures calculators. Costs incurred in making 9,940 calculators in February included $29,350 of fix
    9·1 answer
  • Define ''limited in stock''
    6·1 answer
  • Why do you think p2p apps have become so popular?
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!