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Novay_Z [31]
3 years ago
10

A company received a bank statement with a balance of $ 6 comma 300. Reconciling items included a bookkeeper error of $ 400long

dasha $ 400 check recorded as $ 600long dashtwo outstanding checks totaling $ 820​, a service charge of $ 22​, a deposit in transit of $ 260​, and interest revenue of $ 22. What is the adjusted bank​ balance?
Business
1 answer:
larisa [96]3 years ago
6 0

Answer:

Bank adjusted balance 5,720

Explanation:

6,300

-840 outstanding check

+260 deposit in ransit

5,720 bank adjustment balance

<em><u>Notes:</u></em>

  • the bookkepper error needs to be done on books cash account
  • the service charge are included in the bank statemnt, is at adjustment to the book cash
  • the interest revenue is also 22 an adjustment for the book cash account
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Sundance Systems has the following transactions during July.
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Answer:

Jul-05 Dr Inventory $118,800

Cr Accounts Payable $118,800

Jul-08 Dr Accounts Payable $5,400

Cr Inventory $ 5,400

Jul-13 Dr Accounts Payable $ 113,400

Cr Cash $108,864

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Cr Sales revenue $ 134,400

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Cr Inventory $108,864

Explanation:

Preparation of the journal entry to Record the transactions of Sundance systems, assuming the company uses a perpetual inventory system

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Jul-08 Dr Accounts Payable $5,400

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Jul-13 Dr Accounts Payable $ 113,400

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Cr Inventory $ 4,536

(42 LCDS x $ 2700 x 4%)

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Jul-28 Dr Cost of Goods Sold $108,864

(42 LCDS x $ 2700 x 96%)

Cr Inventory $108,864

(Being to record Cost of inventory sold adjusted)

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3 years ago
. At year-end, Barr Co. had shipped $12,500 of merchandise FOB destination to Lee Co. Which company should include the $12,500 o
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3 years ago
Highway 151 Inc. can further process 2,500 pounds of Product C to produce Product M. Product C is currently selling for $36 per
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Answer:

$27,500

Explanation:

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