Calculate the correct ending balance

Assignment Help Finance Basics

Reference no: EM131520085

Question: On August 31, 2012, the general ledger of The Dean Acting Academy shows a balance for cash of $7,844. Cash receipts yet to be deposited into the checking account total $3,238, and checks written by the academy but not yet processed by the bank total $1,325. The company's balance of cash does not reflect a bank service fee of $25 and interest earned on the checking account of $36. These amounts are included in the balance of cash of $5,942 reported by the bank as of the end of August.

Required: Prepare a bank reconciliation to calculate the correct ending balance of cash on August 31, 2012.

Reference no: EM131520085

Questions Cloud

Calculate the reconciled company balance for cash : Bourne Incorporated reports a cash balance at the end of the month of $2,370. A comparison of the company's cash records with the monthly bank statement.

Prepare a bank reconciliation for the correct ending balance : Spielberg Company's general ledger shows a checking account balance of $22,870 on July 31, 2012. The July cash receipts of $1,785, included in the general.

Determine the moral status of the fetus : Which theory or theories are being used by Jessica, Marco, Maria, and Dr. Wilson to determine the moral status of the fetus? Explain

What should be added to the values to address the ethics : What should be added to the values to address the ethics of the business? Explain how the concepts presented in the article could affect our company.

Calculate the correct ending balance : On August 31, 2012, the general ledger of The Dean Acting Academy shows a balance for cash of $7,844. Cash receipts yet to be deposited into the checking.

Determining the week waiting period : Georgia Braxton, a widow, has take-home pay of $770 a week. Her disability insurance coverage replaces 55 percent of her earnings after a 4-week waiting period.

Record the establishment of the petty cash fund : Halle's Berry Farm establishes a $400 petty cash fund on September 4 to pay for minor cash expenditures. The fund is replenished at the end of each month.

Create a word documnet with the strategic plan : Create a Word Documnet with the Final Strategic Plan. The Final Strategic Plan contains the elements of all the previous weeks' components instructor feedback.

What are the characteristics of insidious injuries : The article by Calhoun and Hiller on insidious injuries discusses a problem that is very difficult to eradicate in modern technological.

User Account

All Pages