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pshichka [43]
4 years ago
15

Heather is sixteen but looks much older. she goes into a jewelry store and buys a diamond bracelet with the money she has been s

aving for college. if heather realizes a year later that it was unwise to spend the money on the bracelet, she:
a. can return the bracelet, but she will only get 50 percent of what she paid for it.
b. can return the bracelet and get her money back.
c. cannot return the bracelet, because she has kept it too long.
d. can disaffirm this contract only if she has turned eighteen
Business
1 answer:
brilliants [131]4 years ago
6 0
D is the right answer I suppose
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OFFERING 20 POINTS Whitney's proposal to build 10,000 guns relied on what two important elements found in the modern manufacturi
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3 years ago
Brown Co. pays weekly salaries of $10,500 on Friday for a five-day work week ending on that day. Assuming the end of the account
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Answer:

Explanation:

The adjusting entry is shown below:

Wages Expense A/c Dr $6,300

     To Wages payable A/c $6,300

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4 0
4 years ago
The October 31 bank statement of White's Healthcare has just arrived from Stat Bank. To prepare the bank reconciliation, you gat
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Answer:

Required 1 :  Bank reconciliation

<u>Bank Reconciliation Statement</u>

Balance as per Bank Statement                    $5,170

Adjusted for error

Multi-State Freight Company                           $700

Balance as per adjusted Bank Statement    $5,870

Add Lodgements not yet credited :

White treasurer`s deposit                                 $290

Less Unpresented Cheques :

237                                                         $90

288                                                       $150

291                                                       $580

294                                                      $590

295                                                         $10

296                                                      $150   ($1,570)

Balance as per Cash Book                            $4,590

Required 2 : Journal entries

<u>Journal 1.</u>

Bank Service Charge $70 (debit)

Trade Receivables $540 (debit)

Bank $610 (credit)

<u>Journal 2.</u>

Bank $2,500 (debit)

Credit Transfer $ l,400 (credit)

Dividend Revenue $l,050 (credit)

Interest Revenue  $50 (credit)

Explanation:

The first step to prepare a bank reconciliation is to update the cash book.

Cash Book (Bank Balances)

<u>Debit  :</u>

Balance as per Cash Book                  $2,700

Credit Transfer                                     $ l,400

Dividend Revenue                                $l,050

Interest Revenue                                      $50

Totals                                                   $5,200

<u>Credit :</u>

Dishonored Cheques  ($420 + $120)   $540

Bank Service Charge                               $70

Adjusted Cash Book Balance            $4,590

Totals                                                   $5,200

The Next step is to prepare a Bank Reconciliation Statement

<u>Bank Reconciliation Statement</u>

Balance as per Bank Statement                    $5,170

Adjusted for error

Multi-State Freight Company                           $700

Balance as per adjusted Bank Statement    $5,870

Add Lodgements not yet credited :

White treasurer`s deposit                                 $290

Less Unpresented Cheques :

237                                                         $90

288                                                       $150

291                                                       $580

294                                                      $590

295                                                         $10

296                                                      $150   ($1,570)

Balance as per Cash Book                            $4,590

Journal Entries to Correct the Cash Book :

<u>Journal 1.</u>

Bank Service Charge $70 (debit)

Trade Receivables $540 (debit)

Bank $610 (credit)

<u>Journal 2.</u>

Bank $2,500 (debit)

Credit Transfer $ l,400 (credit)

Dividend Revenue $l,050 (credit)

Interest Revenue  $50 (credit)

8 0
3 years ago
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