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
Alja [10]
3 years ago
15

On July 31, 2017, Crane Company had a cash balance per books of $6, 245.00. The statement from Dakota State Bank on that date sh

owed a balance of $7, 795.80. A comparison of the bank statement with the Cash account revealed the following facts.
1. The bank service charge for July was $16.00.
2. The bank collected $1, 625.00 for Crane Company through electronic funds transfer.
3. The July 31 receipts of $1, 307.30 were not included in the bank deposits for July. These receipts were deposited by the company in a night deposit vault on July 31.
4. Company check No. 2480 issued to L Taylor, a creditor, for $384.00 that cleared the bank in July was incorrectly entered in the cash payments journal on July 10 for $348.00.
5. Checks outstanding on July 31 totaled $1, 965.10
6. On July 31, the bank statement showed an NSF charge of $680.00 for a check received by the company from W. Krueger, a customer, on account.
Prepare the bank reconciliation as of July 31.
Business
1 answer:
worty [1.4K]3 years ago
3 0

Answer and Explanation:

The preparation of the bank reconciliation is presented below:

cash balance per books $6,245.00

Less Bank Service Charge $16

Less error correction for check No.2480 $36 ($384 - $348)

Add: note receivable collected $1,625

Less: NSF check $680  

Adjusted cash book balance $7,138

bank statement balance $7,795.80

Less: Outstanding checks $1,965.10

Add: Deposits in transit $1,307.30

Adjusted bank statement bal. $7,138

You might be interested in
Dave brags to his dad that his $45,000 starting salary as a computer programmer is much higher than his dad's $28,000 starting s
ivanzaharov [21]

Answer:

Option C Incorrect; adjusting for price changes, his salary is less than his dad's salary  

Explanation:

Adjustment to price changes = (Amount received n years ago divided by Price Index n years ago) * Price Index today

Adjustment To price changes = ($28,000 / 110.8) * 180.5 = $45613.7

The amount $28,000 is worth $45,613.7 in todays value which means that if we adjust for price changes, Dave is incorrect because his salary is worth less by an amount $613.7 from his father's salary.

6 0
3 years ago
Read 2 more answers
Explain migration of population in economics.<br> pls its urgent
daser333 [38]

Answer:

Migration refers to the movement of a group of people from one geographical region (location) to another geographical destination in search of better living conditions, work or social amenities.

Explanation:

Migration refers to the movement of a group of people from one geographical region (location) to another geographical destination in search of better living conditions, work or social amenities.

Migration selectivity can be defined as the likelihood or tendency that a subset (part) of a group of people are going to move (migrate) out of a particular geographical location or area.

Some of the factors that influence migration selectivity are income level, age, education, gender etc.

One way migration affects various locations across the world such as Texas, Brazil, Paris, Rome, Stuttgart, Kyiv, etc., includes the establishment of different restaurants. For example, the establishment of KFC, McDonalds, Mr Biggs were influenced by the migration of people across European cities and as such served as tourist attraction centers, thus, positively affecting the character of these places.

6 0
3 years ago
Charleston, Inc. has Accounts Receivable of $170,000 and an Allowance for Doubtful Accounts of $11,000. If it writes-off a custo
Romashka [77]

Answer:

$159,000

Explanation:

The double entry to record the writes off balances which are the bad debts of Customers who will not pay the debt, will include debit to allowance which is decrease in the allowance and credit to accounts receivable which is also a decrease to accounts receivable:

Dr Allowance for doubtful account $1,100

Cr Accounts Receivable                           $1,100

Similarly the increase in Allowance for Doubtful Accounts of $11,000 will be treated totally opposite of the decrease in Allowance for Doubtful Accounts above:

Dr Accounts Receivable               $11,000

Cr Allowance for doubtful account    $11,000

Now, the increase in allowance is deducted from opening accounts receivables and vice versa. The treatment is given below:

Opening balance of Accounts receivables             $170,000

Accounts Receivable                                                ($1,100)

Allowance for Doubtful Debt    ($11,000 - $1,100)   <u>   $9,900 </u>

Accounts Receivable (Net)                                       $159,000

5 0
3 years ago
A change in the quantity demanded of a good is: a. represented by a shift to a new demand curve. b. represented by a movement al
Radda [10]

Answer:

It's represented by a movement along the demand curve

3 0
3 years ago
Read the thesis statement from a historical essay. Determine which type of claim the author is making (claim of fact, definition
mafiozo [28]

Answer:

im not 100% but think this is right

Explanation:

the author is making a claim of fact, because he is claiming that  provides no economic benefits.  im not sure about the second part

5 0
2 years ago
Other questions:
  • Decide which account is best for each person. Becky wants an account that will let her spend her money as much and as often as s
    12·2 answers
  • An escrow to purchase property was opened on September 1, 2005, and all instructions were placed in escrow, with closing schedul
    13·1 answer
  • A technology company that makes computers for professional use is trying to segment its customers. The company asked some profes
    7·1 answer
  • Suppose that the market for computers is dominated by a single firm, like Dell, that is able to exert influence over prices and
    13·1 answer
  • Presented below are selected ledger accounts of Coronado Corporation as of December 31, 2020. Cash $51000 Administrative expense
    9·1 answer
  • The additional benefit of producing one more roast beef sandwich at a local deli is $2. The additional cost of producing one mor
    15·1 answer
  • Keith enjoys cutting hair and he just graduated from a cosmetology program. He has opened up his own shop, but it has not grown
    14·1 answer
  • In what way would the climate in the shaded area impact that region of South America?
    5·2 answers
  • 3.2.1 Give TWO examples of an advocacy campaign​
    7·1 answer
  • Which term refers to the interest the Federal Reserve Bank (Fed) charges banks for loans? open‑market sale fractional banking re
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!