1 answer

Question 9 (of 15) Harrison Company maintains a checking account at the First National City Bank....

Question:

Question 9 (of 15) Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2016 bank statement included the following information: Balance, July 1, 2016 Deposits Checks processed Service charges NSF checks Monthly loan payment deducted directly by bank from account S 57,803 181,200 (194,310) (60) (includes $170 in interest) 4,170) 38,413 Balance, July 31, 2016 The companys general ledger account had a balance of $41,313 at the end of July. Deposits outstanding totaled $8,000 and all checks written by the company were processed by the bank except for those totaling $8,590. In addition, a $3,700 July deposit from a credit customer was recorded as a $370 debit to disbursement was incorrectly processed by the bank as a $600 disbursement cash and credit to accounts receivable, and a check correctly recorded by the company as a $60 Required 1. Prepare a bank reconciliation for the month of July e here to search 0
media%2F7e7%2F7e7ad7cf-0473-41b2-9a15-f9
media%2F63c%2F63c28a53-e211-47ab-8bc4-ce
Question 9 (of 15) Harrison Company maintains a checking account at the First National City Bank. The bank provides a bank statement along with canceled checks on the last day of each month. The July 2016 bank statement included the following information: Balance, July 1, 2016 Deposits Checks processed Service charges NSF checks Monthly loan payment deducted directly by bank from account S 57,803 181,200 (194,310) (60) (includes $170 in interest) 4,170) 38,413 Balance, July 31, 2016 The company's general ledger account had a balance of $41,313 at the end of July. Deposits outstanding totaled $8,000 and all checks written by the company were processed by the bank except for those totaling $8,590. In addition, a $3,700 July deposit from a credit customer was recorded as a $370 debit to disbursement was incorrectly processed by the bank as a $600 disbursement cash and credit to accounts receivable, and a check correctly recorded by the company as a $60 Required 1. Prepare a bank reconciliation for the month of July e here to search 0

Answers

Requirement1 Bank Reconcilation Statement for the month of July Bank balance to Corrected balance Balance as per Bank Statement (+) Deposits not processed by bank (-) Checks not processed by banks (+) Check incorrectly disbursed by bank (-) Check correctly disbursed now Corrected Cash balance 38,413 8,000 8,590 600 60 38,363 10 12 13 14 15 16 17 18 19 20 21 Book balance to Corrected balance Balance as per books (-) Service charges (-) NSF Checks (-) Loan payment directly processed by bank $ (-) Deposit incorrectly recorded by company $ (+) Deposit correctly recorded now Corrected cash balance 41,313 60 2,050 -4,170 370 3,700 38,363 23

.

Similar Solved Questions

1 answer
Please show all work leading towards the solutions and have the solutions in the correct units....
Please show all work leading towards the solutions and have the solutions in the correct units. 4. To enhance heat transfer from a silicon chip of width W 4 mm on a side, a copper fin is brazed to the surface of the chip. The pin length and diameter are L = 20 mm and D 4 mm, respectively, and atmos...
1 answer
An enzyme enhances the rate of a reaction at pH 8, 20 °C, by a factor...
An enzyme enhances the rate of a reaction at pH 8, 20 °C, by a factor of 1.8E10. If a given quantity of enzyme catalyzes the conversion of a given quantity of substrate in 11 minutes at 20 °C and pH 8, how long (in years) would it take for the same amount of substrate to be converted to prod...
1 answer
Q1: If (u,v) = (((,,a,,a,), (1;,6,63)) = a,b – a,b, + a,b; show that (u, v)...
Q1: If (u,v) = (((,,a,,a,), (1;,6,63)) = a,b – a,b, + a,b; show that (u, v) is inner product or not. Q2: Find a basis and dimension for the Kernel and Image of linear transformation T:R — > R3 given by the formula T(x,y,z) = (x + y, x – y + x,y + 22), and show that dim(ker T) + ...
1 answer
Quantitative Problem: Sunshine Smoothies Company (SSC) manufactures and distributes smoothies. SSC is considering the development of...
Quantitative Problem: Sunshine Smoothies Company (SSC) manufactures and distributes smoothies. SSC is considering the development of a new line of high-protein energy smoothies. SSC's CFO has collected the following information regarding the proposed project, which is expected to last 3 years: &...
1 answer
Problem 7: (8 points) The length of time to failure (in hundred of hours) for a...
Problem 7: (8 points) The length of time to failure (in hundred of hours) for a transistor is a random variable Y with e.df. given by Fy) - 1 - exp{-1}, if y> 0 0, elsewhere. (a) Find the p.d.ff(s) of Y and show that it is indeed a valid p.d.f[2] (b) Find the 30 percentile of Y and interpret it (...
1 answer
1. The accountant for the Times Corporation prepared the following list from the company's accounting records...
1. The accountant for the Times Corporation prepared the following list from the company's accounting records for the year ended December 31, 2012 $ Retained earnings Cash X Accounts payable Sales revenue Cost of sales Landr Notes payable Inventory ? Prepaid expenses $ 97,000 Common stock 70,000...
1 answer
Create a spreadsheet in excel and develop a sensitivity and answer report. Use the sensitivity and...
Create a spreadsheet in excel and develop a sensitivity and answer report. Use the sensitivity and answer report to answer the questions below. Do not reuse solver. Please show your work and where you get the information: Zippy motorcycle manufacturing produces two popular pocket bikes (miniature mo...
1 answer
Portfolio Return Year-to-date, Company O had earned a -6.8 percent return. During the same time period,...
Portfolio Return Year-to-date, Company O had earned a -6.8 percent return. During the same time period, Company V earned 9.05 percent and Company M earned 2.08 percent. If you have a portfolio made up of 25 percent Company O, 60 percent Company V, and 15 percent Company M, what is your portfolio ret...
1 answer
Browse Webcam Diamond Haughton: Attempt 1 3 Question 2 (8 points) A chromosome has experienced an...
Browse Webcam Diamond Haughton: Attempt 1 3 Question 2 (8 points) A chromosome has experienced an intrachromosomal translocation that did not include the centromere. Select all of the statements below that are true. Leave any statements that are false un-selected. m 9 This could result in the chromo...
1 answer
For the purpose of the Medicare Levy Surcharge, what are reportable superannuation contributions and reportable fringe...
For the purpose of the Medicare Levy Surcharge, what are reportable superannuation contributions and reportable fringe benefits, and how do these amounts effect the calculation of the Medicare Levy Surcharge? What are the 6 types of tax ruling? Explain each one. country: Australia...
1 answer
Compound A displays the following MS, 'HNMR, and IR spectra. Compound A decolorizes a solution of...
q is for quadruplet and t is for triplet Compound A displays the following MS, 'HNMR, and IR spectra. Compound A decolorizes a solution of bromine in dichloromethane. Suggest a structure for Compound A consistent with all of the data given. Account for all of the numbered peaks in the MS, interp...
1 answer
How you think the allele frequencies are being affected by genetic drift in our simulation. Do...
How you think the allele frequencies are being affected by genetic drift in our simulation. Do you think this is speeding up or slowing down the rate of allele change? Why? Plot a graph of the H (p) allele frequency over generational time (show a minimum of three generations) showing what you would ...
1 answer
Please show the working The following data were obtained for the decomposition of N20s in CCl4....
Please show the working The following data were obtained for the decomposition of N20s in CCl4. The following data were collected. 2. 0423 753 1116 1582 1986 2343 0.35 Time/ s dN2Os/ mol dm 1.46 1.09 0.89 0.720.54 Calculate: (a) Average rate of reaction. (b) Initial instantaneous rate. (c) [N20s] at...
1 answer
Question 12 5 pts Jim sold a car and accepted a note promising cash flows of...
Question 12 5 pts Jim sold a car and accepted a note promising cash flows of $1,000 at the end of Year 1, and $2,000 at the end of Years 2, 3, and 4 as his payment. What was the effective price he received for the car, assuming an interest rate of 7.90%? Your answer should be between 4,715.00 and 6,...
1 answer
4. Recall the "means ANOVA model Y,-μί +Gj where μί-B( ) is thepopulation mean of the...
4. Recall the "means ANOVA model Y,-μί +Gj where μί-B( ) is thepopulation mean of the ith group. Now, let μ Σί.th and T-μί-μ to define the "effects" model. Here, Ti is the "effect" of the ith group. Show that Σ-n must be 0....
1 answer
Computing the expected rate o return and risk After a tumultuous period in the stock market...
Computing the expected rate o return and risk After a tumultuous period in the stock market Logan Morgan s considering an investment n on standard deviation) and return as measured by the expected rate of return? o portfolios ven the i o ation that ollows which mes ent is better based on risk as mea...
1 answer
What is the annual equivalent cost of the asset?
An asset was purchased for $52,000 with the anticipation that it would serve for 12 years and be worth $6,000 as scrap. After 5 years of operation, the asset was soldfor $18,000. The interest rate is 14%.a. What was the anticipated annual equivalent cost of the asset?b. What was the actual annual eq...