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Anon25 [30]
3 years ago
9

Rodgers Company gathered the following reconciling information in preparing its May bank reconciliation. Calculate the adjusted

cash balance per books on May 31. Cash balance per books, May 31 $5,400 Deposits in transit 375 Notes receivable and interest collected by bank 650 Bank charge for check printing 40 Outstanding checks 2,400 NSF check 140 a.$4,930 b.$5,870 c.$3,845 d.$6,245
Business
1 answer:
grin007 [14]3 years ago
3 0

Answer:

b. $5,870

Explanation:

Data given in the question

Cash balance per books, May 31 $5,400

Deposits in transit $375

Notes receivable and interest collected by bank $650

Bank charge for check printing $40

Outstanding checks $2,400

NSF check $140

The computation of the adjusted cash balance per books is shown below:

= Cash balance per books + Notes receivable and interest collected - Bank charges - NSF check

= $5,400 + $650 - $40 - $140

= $5,870

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Herman Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the product
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Answer:

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Explanation:

The accounting standard for Inventory under IFRS IAS 2 requires that inventory be recognized at cost which includes all the cost incurred to bring the item of inventory to a state or place where the item of inventory becomes available for sale.

These costs includes cost of purchase, freight, Insurance cost during transit etc.  

Subsequently, inventory is to be carried at the lower of cost or net realizable value.

The NRV is the Selling price less the cost to sell.

Given

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Costs to sell                $ 9                $ 72              $ 26

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6 0
3 years ago
You work for an auto manufacturer and distributor. How could you use information systems to
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Answer:

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