Hellllllllllllllllllllllllllp

On August 31, 2021, Cullumber Company had a cash balance per its books of $26,420. The bank statement on that date showed a bala

JulsSmile [24]

a) The preparation of the bank reconciliation statement on August 31 for Cullumber Company is as follows:

<h3>Bank Reconciliation Statement</h3>

Balance as per bank statement $16,780

Add uncredited deposits of 17,220

Check #705 overstated 36

Less uncashed checks (5,780)

Adjusted bank statement balance of $28,256

b) The preparation of the necessary adjusting entries on August 31 is as follows:

Debit Cash $2,050

Credit Accounts Receivable (EFT deposits) $2,050

Debit Accounts Receivable (R. Dubai) $197

Credit NSF charges $187

Credit Service charges $10

Debit Bank service charges $27

Credit Cash $27

<h3>What is bank reconciliation?</h3>

Bank reconciliation is the comparison of an entity's records with those of its bank, to uncover any differences between these two sets of records of bank transactions.

Bank reconciliation is carried out by the preparation of a bank reconciliation statement, which outlines the deposits, withdrawals, and other activities affecting a bank account for a specific period.

<h3>Data and Calculations:</h3>

Cash balance per books on August 31, 2021 = $26,420

Bank statement balance = $16,780

<h3>Analysis of Discrepancies:</h3>

1. Uncredited deposit = $17,220

2. EFT deposits = $2,050

3. Outstanding checks:
Check #673 = $1,230

Check #710 = $2,330

Check #712 = $2,220

Total outstanding checks = $5,780 ($1,230 + $2,330 + $2,220)

4. NSF charge = $187

Service charge = $10

5. Bank service charges = $27

6. Check #705 overstated = $36 ($173 - $137)

<h3>Adjusted Cash Account:</h3>

Balance as per Cash Book $26,420

EFT deposits $2,050

Less:

NSF charge 187

Bank service charges 27 (214)

Adjusted cash book balance $28,256

Learn more about bank reconciliation statements at brainly.com/question/15525383

6 0

3 years ago

One line divides a plane into two regions. Two lines can divide a plane into at most four regions. What is the maximum number of

melisa1 [442]

The maximum number of regions possible using eight lines will be 64 regions.

<h3>How to get the value?</h3>

From the information given, one line divides a plane into two regions, two lines can divide a plane into at most four regions. The relationship her is that the square of the number is given.

Therefore, the number of regions will be:

= 8²

= 8 × 8

= 64 regions

Learn more about division on:

brainly.com/question/1622425

#SPJ1

4 0

2 years ago

What will be the firm's quick ratio after Nelson has raised the maximum amount of short-term funds? Do not round intermediate ca

Marysya12 [62]

Based on the short-term debt that Nelson raises, the firm's quick ratio will be 1.204.

<h3>What is the firm's quick ratio?</h3><h3 />

First, find the maximum amount of short-term funds that Nelson can raise?

Assuming this amount is x, we can find it with the current ratio formula:

Current ratio = Current assets / Current liabilities

2 = (1,260,000 + x) / ( 450,000 + x)

x = $360,000

The quick ratio would therefore be:

= ( New Current assets - New inventory) / New current liabilities

= ( (1,260,000 + 360,000) - (285,000 + 360,000) ) / (450,000 + 360,000)

= 1.204

Find out more on quick ratio at brainly.com/question/13917900.

#SPJ1

5 0

2 years ago

About 3/5th of the registered voters participated in 2016 election. California has 25 million registered voters. Find the number

natka813 [3]

Given:

About 3/5th of the registered voters participated in 2016 election.

California has 25 million registered voters.

To find:

The number of registered voters who participated in 2016 election.

Solution:

We have,

Total number of registered voters = 25 million

According to the question,

$\text{Registered voters who participated}=\dfrac{3}{5}\times \text{Total number of registered voters}$

Now,

$\text{Registered voters who participated}=\dfrac{3}{5}\times 25$

$\text{Registered voters who participated}=3\times 5$

$\text{Registered voters who participated}=15$

Therefore, there are 15 millions of registered voters who participated in 2016 election.

6 0

3 years ago

Triangle MRN is created when an equilateral triangle is folded in half. Triangle N R M is shown. Angle N R M is a right angle. A

Fed [463]

Answer:

The value of x is 4.

Step-by-step explanation:

It is given that triangle MRN is created when an equilateral triangle is folded in half.

It means original equilateral is triangle MNO and NR is a perpendicular bisector (<em>A line which cuts a line segment into two equal parts at 90°</em>).

The side length of the triangle is

NO = NS + SM = 6 + 2 = 8

Since an equilateral triangle is a triangle in which all three sides are equal and NR is a perpendicular bisector, therefore

RM = MO/2 = 8/2 = 4

The value of x is 4.

7 0

3 years ago

Read 2 more answers